Macraes Mine

Macraes Mine in East Otago is New Zealand's largest gold mine,[1] and consists of a large scale opencast mine[2] opened in 1990, and a newer underground mine, opened in 2008.[3] It is situated close to the settlement of Macraes Flat and is owned by OceanaGold Corporation.

View of mine and plant, 2007
Fraser's Pit of Macraes Mine in 2008

Gold production averaged 193,000 Troy ounces/year for 2008 through 2010. Ore grades have been declining, to 1.26 grams/tonne in 2010, but recoveries have improved slightly to 81% of the gold contained in the ore, in 2010. From 1990 through 2014, gold production totaled about 4 million ounces.[4] The mine's 5 millionth ounce was poured in July 2019.[5] The company claims a gold reserve of 1.53 MM troy oz Au plus a larger subeconomic gold resource; and expects the mine to operate at least through 2021.[3][6] As of July 2019, over 5 million ounces of gold have been extracted.

The gold bearing rocks were formed by the orogenic processes that created the Otago Schist belt.[7]

References
  1. Hartley, Simon (28 June 2018). "Another 10 years for Macraes". ODT. Retrieved 14 September 2018.
  2. "New Zealand". Oceana Gold. 2008. Retrieved 29 May 2010.
  3. Macraes Mine at Oceana Gold
  4. Oceana Gold Business Review, June 2011.
  5. Rae, Sally (20 July 2019). "Going for gold and loving it". Otago Daily Times Online News. Retrieved 23 July 2019.
  6. "OceanaGold eyes Macraes mine life extension". www.mining-journal.com. 22 October 2018. Retrieved 23 July 2019.
  7. Craw, Dave. "Macraes Mine, East Otago, New Zealand,". Geology Department, University of Otago. Retrieved 30 May 2022.

Media related to Macraes Mine at Wikimedia Commons

45.3762°S 170.4504°E / -45.3762; 170.4504


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