Gerard Bond: Oceana Gold CEO on the approval of the $8 billion Waihi North mine

The $8 billion Waihi North mine has been given the approval to go for gold, and there could be many millions of ounces out of it. 

It's been given the green light through the Government's fast track programme. 

The permit secures 350 existing jobs and creates more than 100 new roles.  

Oceana Gold Chief Executive Gerard Bond told Heather du Plessis Allan they're investing one billion dollars of capital to get things going. 

He says that will be put towards a tunnel to go under the forest park and hundreds of millions will be spent during its operation at well. 

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Episode Transcript

Speaker 1 (00:00):
So the eight billion dollar why He North mine is
going ahead. It's just gained consent via the fast Track
program to expand and continue mining for another eighteen years.
And Jared Bond is the CEO of Oceana Gold and
with us morning Jared.

Speaker 2 (00:12):
A good morning.

Speaker 1 (00:13):
Have now I heard you're describing this as one of
the world's best undeveloped gold all bodies? How much do
you reckons in there?

Speaker 2 (00:21):
Well, we booked a reserve last year of one point
two million ounces and third resources of the third of
four hundred thousand ounces. So it's like we see one
point six million ounces today or we did a year ago.
We still drill and given that the why He mined
that we presently operate over its life has produced eight

(00:41):
million ounces. And this is a similar style of all body.
You know that there could be many millions of ounces
of gold in the way pericure.

Speaker 1 (00:50):
Upon underground fantastic. So you're investing is it a billion into.

Speaker 2 (00:54):
This one billion dollars of capital to get it going?
That involves a tunnel to get to the mine from
outside the forest park, so we go under the forest
park and then as the mine is operated, we spend
hundreds of millions of dollars each year in its operation
as well.

Speaker 1 (01:12):
So you've got approval for this in about one hundred
and twelve days. Is this a good system? Do you think?

Speaker 2 (01:17):
Are you?

Speaker 1 (01:17):
Are you happy with us?

Speaker 2 (01:20):
I think New Zealand has the best development permitting system
globally presently. It's rigorous. It is difficult to get something
permitted anywhere in the world, and New Zealand is no different.
Our application was substantial. We did a lot of work.
But the great thing about this process is that it's
done in a timely way.

Speaker 1 (01:40):
Do you think that as news, you know, as the
rest of the world and investors catch on to the
fact that you guys are getting this stuff consented reasonably quickly,
that there will be increased interest in New Zealand as
a result.

Speaker 2 (01:52):
Well, New Zealand leapt up the mining attractiveness index in
an annual global survey this year, already off the basis
of that legislation being passed, and I think our success
will further solidify New Zealand as a place that you
can do business in.

Speaker 1 (02:09):
That's great. Do you think that it's I mean part
of the problem in New Zealand, though, is attitudes towards
mining and you know, traditionally and quite baked in. Do
you think that's changing.

Speaker 2 (02:20):
Well, we have tremendous support where we mine from local communities,
and I understand during the course of last year we
saw that public support for mining has improved dramatically in
New Zealand, and I think that's because people see that
we do it safely, we do it responsibly, have done
so for thirty five years and will continue to do so.

(02:40):
And this is an industry that generates real, high paying
jobs that are very, very productive. So I'd like to
think that New Zealanders would welcome the fact that they
have a robust mining industry. Yeah.

Speaker 1 (02:54):
Well, Jared, listen, beast of luck with it. I hope
you make loads and loads of cash for yourselves and
obviously the country as well. Jared bond Oceania Gold CEO.

Speaker 2 (03:01):
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