Few moments in a company’s history carry the weight of breaking ground on a new mine that will define its future for decades. 

For us at OceanaGold, one of those moments happened earlier this month, where we marked the beginning of development to the Wharekirauponga Underground, part of the Waihi North Project in New Zealand with a dawn blessing and ribbon cutting at the newly opened Willows portal, alongside employees, contractors and community partners. It was a moment to recognize both the significance of the land and the shared effort that brought us to this point. 

More than a Portal: why Waihi North Matters 

The Willows portal represents more than the physical entrance to an underground mine. It marks the next chapter in OceanaGold’s investment in Waihi and in New Zealand’s long-term economic future. 

“Waihi North is our largest and most meaningful medium term, major capital investment”, says Gerard Bond, our President and CEO. “We are investing around NZ$1 billion in this project, which will provide substantial gold production for years to come while also delivering high-paying jobs and contributing to economic growth for local communities and New Zealand.” 

At the heart of this development is the Wharekirauponga orebody, which Gerard describes as “one of the best undeveloped, high-grade orebodies in our industry.”  It has a mineral reserve of 1.2 million ounces of gold (as at December 31, 2025), which is the result of many years of exploration, analysis, and belief in the resource.  While the reserve is substantial for this stage of project development, significant exploration upside remains with mineralization at Wharekirauponga remaining open in all directions.  

At current reserves, Gold production at Wharekirauponga is expected to extend mining activity at Waihi to around 2040 and deliver sizeable economic benefits for the local community, the region and New Zealand as a whole. Wharekirauponga is expected to generate over NZ$8 billion in export revenue for New Zealand at current gold prices.  This is paired with a commitment to local impact—supporting jobs, local businesses, and community growth.   

A Project Built by Many 

The Waihi North Project is the product of many years of incredible teamwork. 

At the ceremony, Project Director Mick Lovely, spoke to the collective effort behind a project of this complexity. "Some people standing here today have spent many years exploring the resource and believing in the potential of the orebody. Others have spent time analysing, modelling, designing, optimising, planning and consenting every detail to help get things to this point."  

From geologists, engineers, and environmental specialists through to legal teams and community advisors, it’s the work of many over the long term – where careful planning, strong environmental standards, and community engagement have been coordinated from the very beginning – that has designed a project with principles of responsible mining at its core. 

Gerard also recognized the work of our teams, while acknowledging the opportunity the project creates for those just entering the industry.  “A mine life out to 2040, and possibly beyond, means Waihi North represents the foundation of entire careers at this site,” he said. 

Today, more than 150 people are already hard at work on site, in addition to the 670 employees and contractors we have at Waihi, all of whom have worked relentlessly to advance development since we received our fast-track permit back in December 2025. 

Looking Ahead 

The opening of the Willows Portal is just the beginning. There is still significant work ahead as we continue to develop access to the orebody and progress toward production. 

But this moment is worth pausing for. 

It represents significant perseverance, a shared commitment to responsible mining, and a clear step forward in delivering one of OceanaGold’s most important projects.  It also fulfils a commitment to the New Zealand Government that we were “shovel ready” once the project was permitted.   

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