OceanaGold Corp. (OGC.AX,OGC.TO) said that on 19 April 2014 at the Macraes Open Pit, a section of the west wall failed following a heavy rainfall. The wall was being continuously monitored and there were no personnel working in the open pit at the time of the failure. Access to the underground mine was cut off, however, the underground mine itself was unaffected and all underground personnel were brought safely to the surface. There were no injuries.
The company notified the necessary authorities and has worked closely with them to investigate the incident.
The firm noted that production from the open pit has been temporarily suspended to further review the incident and develop a new plan for the operation. The company expects this review to be completed over the next few weeks.
Earthworks commenced on 21 April 2014 to re-establish a road to the underground entrance. Production from the underground operation is expected to resume by the end of the week once a safe access road has been reinstated.
The processing of ore has been unaffected and ore is being drawn from stockpiles. The company expects there to be only minimal impact on near-term production as a result of this event.
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