Newmont Waihi Gold in the North Island - the country's second-largest gold producer after Otago-based Oceana Gold - has announced an underground exploration programme that could push its mine life out a further six years, beyond 2020.
Newmont's gold and silver mining in the Martha east layback in the main Martha open pit is due to close in 2014, while its underground operations, Favona and Trio, are due to close in 2011 and 2014 respectively.
Newmont Waihi Gold general manager Glen Grindlay said in a statement yesterday exploration activities had indicated "promising" deposits of gold and silver.
The historic Coromandel mining township of Waihi and wider district are reliant on Newmont for up to about 700 jobs.
"Gold mining is a significant contributor to the local and national economies through money that goes back into the community and through taxes, employment and training," Mr Grindlay said.
He said the Golden Link exploration plan was in two parts, one being a small underground exploration programme located within the Martha mining licence area and the main pit rim, the other a possible new underground mine in Waihi East, named Correnso, to replace the Favona and Trio mines.
Should the Correnso proposal proceed, deep mining would occur in blocks starting at the bottom of the ore body, 350m below the surface, and working up to the top of the ore body, about 130m below the surface.
Following consultation and further investigation, Newmont expects to lodge Resource Management Act applications for Correnso with the Hauraki District Council and Waikato Regional Council in early 2012.
