OceanaGold targets 30% production growth via expansion and acquisitions

OceanaGold has outlined a growth strategy aiming for a 30% increase in gold production by 2026. The company targets a production range of 520,000 to 590,000 ounces, driven by the Waihi North project in New Zealand and the proposed acquisition of Ausgold, which would add the Katanning Gold Project in Western Australia to its portfolio.

Key assets contributing to this output include the Haile Gold Mine in the United States, expected to provide approximately 45% of 2026 production, and the Didipio mine in the Philippines, which is projected to account for 17% of gold output and all copper production. Other contributors include the Macraes and Waihi mines in New Zealand.

Recent drilling results from Wharekirauponga in New Zealand have also bolstered resource plans, with one section reporting 97.20 grams of gold per tonne over 6.30 meters. To support increased activity, the company is evaluating raising its processing capacity from 0.80 to 1.20 million tonnes per year.

Financially, OceanaGold reported significant growth in the second quarter of 2026, with revenue reaching $647.30 million and net profit rising to $222.20 million. The company also noted generating $739 million in free cash flow over the 12 months ending June 30.