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

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.

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. 1 2 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°22′34″S 170°27′01″E / 45.3762°S 170.4504°E / -45.3762; 170.4504


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