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Monday, 23rd March 2009 (859 views)

A revised plan for a gold project in northern Philippines is to be submitted next week by OceanaGold, it has emerged.

The Mines and Geosciences Bureau stated that the company will hand over a new plan of work for its Didipio copper-gold mine.

Vice president for corporate and investor relations at OceanaGold Darren Klinck said the firm is regularly reviewing the project scope and capital requirements for the Didipio mine.

"We continue to look at various possibilities for the project but it would be too premature to rule out any option at this point," he remarked.

In December last year, OceanaGold announced that it was placing the Didipio project on care and maintenance after a completing a strategic review of the site.

Chief executive Stephen Orr said that the global economic downturn led the firm to "take prudent measures in order to secure and preserve" the project.

 

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