First production from Golden Point Underground at Macraes

The Macraes Operation in New Zealand's South Island has reached a significant operational milestone with the commencement of first production from its new Golden Point Underground mine in late October. This development represents a major expansion for what has been operating as one of the world's lowest-cost gold operations for over three decades.

The achievement of first production from Golden Point Underground demonstrates the continued evolution and expansion of the Macraes Operation, which has established itself as New Zealand's largest gold-producing mine since beginning commercial operations 31 years ago. The initial production milestone saw five thousand tonnes of ore extracted from the new underground operation.

This development is particularly significant for the New Zealand mining sector, as it represents the successful transition of a mature operation into underground mining, extending the operational life of this flagship gold mine. The milestone reinforces Macraes' position as a cornerstone asset in New Zealand's mining landscape and demonstrates the viability of underground expansion at established operations.

The successful commencement of underground operations at Golden Point positions Macraes for continued long-term production and maintains its status as a low-cost producer in the global gold mining sector. This achievement likely provides a template for other mature operations considering similar underground expansions to extend mine life and maintain production levels.