Correnso mine gets go ahead

Funding for the Newmont Waihi Gold's Correnso underground mine has been confirmed.

The company received confirmation of the funding yesterday - news that is welcomed by general manager Glen Grindlay.


The Correnso mine will be an underground mine in Waihi.

Glen says receiving final corporate approval for the significant expenditure required to get the new mine up to operational stage was both a validation of the work done by staff and the quality of the ore body.

'This is great news for our business, and our staff, but also great news for Waihi. The continuation of mining in the town will provide on-going employment for our underground staff when Trio closes in a few months.

'It will also mean that we will continue to be a significant employer in the region after our Martha open pit closes in early 2016.”

The first phase of the Correnso mine will be completed by late 2017.

Glenn estimates they would have produced 300,000 ounces of gold by this time.

'Exploration drilling for phase two is already underway.”

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