OceanaGold delivers record yearly performance

A STELLAR fourth quarter performance has seen gold and copper miner OceanaGold report a record full year profit of US$172 million.

OceanaGold delivers record yearly performance OceanaGold delivers record yearly performance OceanaGold delivers record yearly performance OceanaGold delivers record yearly performance OceanaGold delivers record yearly performance

With the new Haile gold operation in South Carolina ramping up, $89 million of the profit came in the fourth quarter.

Earnings for the year came in at $408 million, with net debt reduced by $88 million in the fourth quarter.

OceanaGold’s revolving credit facility was down to $200 million at the end of 2017.

The full year profit could have been $18 million higher but for an impairment reported for the company’s El Salvador misstep.

The multi-national miner paid out shareholders $12 million in dividends for the full year.

The financial results came after record annual production of 574,606 ounces of gold and 18,351t of copper.