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OceanaGold Orders World’s Largest Flotation Cells

17 December 2007

OceanaGold Commissions World’s Largest Flotation Cells

OceanaGold Corporation today announced that it has successfully commissioned three new Outotec TankCell® 300 flotation cells at its Macraes processing facility in New Zealand. These units incorporate optimized design to achieve good froth stability in a low sulphide environment. Each TankCell® 300 has a flotation capacity of over 300m3 and is the world’s largest commercially operating flotation cell. The new installation of 300m3 tanks combined with Macraes existing Outotec 150m3 tanks has successfully replaced the site’s original two trains of column and conventional flotation cells. This represents a significant reduction in process plant footprint and the upgrade is expected to reduce maintenance and operating costs.

OceanaGold has achieved an initial increase in bulk flotation recovery of 4% which exceeds the projected recovery increase of 2.5%. Based on the projected recovery improvement payback was 16 months, but is now expected to occur sooner following final commissioning of the complete circuit. Outotec’s technical team has been working on-site at Macraes throughout the commissioning process and the flotation circuit upgrade will be complete by late-December when additional flotation cleaning capacity is commissioned. Macraes will then be able to treat 6.0 million tonnes of ore per annum.

At the beginning of 2008, OceanaGold’s Macraes processing facility will be treating all the ore and concentrate that the Company produces from its Macraes, Frasers and Reefton gold mines in New Zealand.

- ENDS -

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