Newmont Waihi Gold Ltd

What Newmont Waihi Gold Ltd does

Newmont Waihi Gold Ltd, operating as OceanaGold's Waihi Operation, is a gold and silver mining producer based in Waihi, New Zealand, currently owned by OceanaGold (New Zealand) Limited (OGNZL), a wholly-owned subsidiary of OceanaGold Corporation (TSX: OGC). The company was originally formed in 1987 around the modern Martha Mine (first gold pour May 1988), was renamed Newmont Waihi Gold Limited in 2004 after Newmont Mining Corporation took ownership in 2002, and was acquired by OceanaGold in 2015–2016. It operates an integrated mining complex comprising one open pit (Martha Open Pit) and four underground mines (Martha Underground including Rex, Correnso, Trio, and Favona), with the Waihi North Project (Wharekirauponga) and the Martha Open Pit Project in the development pipeline.

The operation's core technology stack is conventional precious-metals extraction at industrial scale: ore is processed through semi-autogenous grinding (SAG) and ball mills grinding to 80% less than 70 microns, followed by cyanide leaching, carbon adsorption, electrowinning, and smelting into doré bullion bars of approximately 20 kg each (typically 10–25% gold and 75–90% silver). Supporting infrastructure includes a 1.25 million tonnes per annum processing plant, a water treatment plant with reverse osmosis (an $11M 2008 upgrade capable of up to 26,000 m³/day discharge), engineered zoned tailings storage facilities, and rehabilitation programs delivered through the Martha Trust. The site is high-rainfall (>2,100 mm/year) and operates in close proximity to the Waihi township, necessitating extensive environmental and community engagement infrastructure.

The business model is direct commodity sales: 100% of doré production is sold to the Western Australian Mint in Perth under a single offtake arrangement for refining and subsequent sale on international commodity markets, with gold and silver credited to OceanaGold's mint account. There are no alternative distribution channels, no intermediary resellers, and pricing is set by prevailing international precious-metals markets rather than through disclosed contractual pricing. The customer base is therefore a single institutional offtaker, and revenue is exposed to global gold and silver spot prices, NZD/USD FX, and the operational continuity of the Perth refinery relationship.

Name

Newmont Waihi Gold Ltd

Legal name

OceanaGold (New Zealand) Limited

Website

https://waihigold.co.nz

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

11–50 employees

Short description

OceanaGold's Waihi Operation is a New Zealand gold and silver producer operating five mines (one open pit, four underground) in Waihi, selling all doré bullion to the Western Australian Mint for refining and international market sale.

Ownership category

akta.pro rank

Product category

Gold Mining

NAICS

Gold Ore and Silver Ore Mining (21222), Gold Ore and Silver Ore Mining (212220)

SIC

Gold And Silver Ores (1040)

akta.pro primary industry

Gold Mining (IMAKAEAA)

akta.pro secondary industries

Silver Mining (IMAKAEAB), Precious Metals Ore Processing & Beneficiation (IMAKAEAD)

Keywords

• Gold mining
• Silver mining
• Underground mining
• Open pit mining
• Doré bullion production

Headquarters

HQ city

Waihi

HQ country

New Zealand

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Others

Revenue model

1. Gold and Silver Sales: Gold and silver are extracted through cyanide leaching and produced as doré bullion bars (approximately 75-90% silver and 10-25% gold, weighing approximately 20 kg each). The doré is sold to the Western Australian Mint for refining and subsequent sale on international commodity markets. Ore processing capacity of up to 1.25 million tonnes per annum.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Newmont Waihi Gold Ltd (operating as OceanaGold Waihi Operation) explores, mines, and processes gold and silver ore from underground mines (Martha Underground, Correnso, Trio, Favona) and the Martha Open Pit in Waihi, New Zealand. Ore is processed via cyanide leaching to produce doré bullion bars (approximately 20 kg, 75-90% silver and 10-25% gold), which are sold to the Western Australian Mint for refining. The company also conducts diamond drilling exploration, manages tailings storage and water treatment infrastructure, and delivers mine site rehabilitation services.

Product overview

Newmont Waihi Gold Ltd (operating as OceanaGold Waihi Operation) is a gold and silver mining company operating multiple underground mines (Martha Underground, Correnso, Trio, Favona) and an open pit mine (Martha Open Pit) in Waihi, New Zealand. The company offers a portfolio of mining products including gold extraction via cyanide leaching, silver as a co-product, gold refining services (through the Western Australian Mint), tailings storage management, water treatment, and environmental rehabilitation. The core operations are supported by infrastructure including a processing plant (capacity 1.25 million tonnes per annum), water treatment plant with reverse osmosis, and tailings storage facilities. Current major projects include the approved Waihi North Project and the Martha Open Pit Project, which together represent the company's future mining pipeline.

Differentiator

Problem solved

Functional benefit

Products and services

• Martha Underground Mine Underground gold and silver mining operation at the Martha site, including the Rex vein, mined as part of Project Martha alongside the North Wall.
• Correnso Underground Mine Underground gold mine that began production in 2014 and continues to operate.
• Trio Underground Mine Underground gold mine that commenced production in 2012 following consents granted in 2011.
• Favona Underground Mine Underground gold mine developed in 2004 with ore extraction commencing in November 2006.
• Martha Open Pit Open pit gold and silver mining operation at the Martha Mine site, operating since 1988 with extensions approved through various project phases.
• Gold and Silver Ore Processing Extraction and production of gold and silver doré bullion via cyanide leaching, SAG/ball mill grinding, carbon adsorption, electrowinning, and smelting at a plant with capacity up to 1.25 million tonnes per annum.
• Waihi North Project Approved new underground mining project at Wharekirauponga, including underground workshop and tunneling works, representing OceanaGold's future production pipeline at Waihi.
• Martha Open Pit Project Proposed extension of Martha open pit mining to access additional ore deposits identified through major exploration campaigns.
• Mineral Exploration Services Diamond drilling and exploration activities to identify and evaluate mineral resources in the Waihi region, including drilling campaigns and assay testing.

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• OceanaGold (New Zealand) Limited (OGNZL)coreStrategic or Co-development Partner · 15 October 2015Overseas Investment Office approved sale of Waihi Gold Company Ltd to OceanaGold Corporation. Handover to OGNZL completed 1 June 2016. The Waihi operation is now part of OceanaGold's global mining portfolio.
• Waikato Regional CouncilcoreOthersRegulatory partnership for water quality monitoring and compliance. Waikato Regional Council monitors water discharge quality and sets compliance limits based on USEPA guidelines. Regular reporting and independent monitoring by the council.
• Hauraki District CouncilcoreOthersRegulatory partnership for land use consents and noise monitoring. District Council conducts independent noise monitoring and approves land use consents for mining operations.
• Department of Conservation (DoC)minorStrategic or Co-development PartnerPartnership on NZ DotterelWatch initiative focused on protecting the threatened Tuturiwhatu/NZ dotterel species. DoC received funding and a vehicle from Waihi Gold; provided ranger oversight and education programme.

Scale indicators4 records

Recent moves9 records

Expansion highlights3 records

Direct peers

• Perseus Mining: Intermediate gold producer with multi-jurisdiction operations (West Africa, Australia) producing gold doré. Comparable in production scale, multi-asset structure, and reliance on centralised processing infrastructure.
• Coeur Mining: US-listed precious metals miner producing both gold and silver doré from underground operations. Comparable as a precious-metals producer with similar doré refining route via third parties.
• B2Gold Corp: Intermediate gold producer operating multiple mines globally (Mali, Philippines, Namibia) producing doré bullion. Comparable as a mid-tier multi-asset gold producer with similar scale and processing throughput to the Waihi operation.
• Evolution Mining: Australian intermediate gold producer operating multiple underground and open pit mines feeding centralised processing plants. Highly comparable multi-mine gold production model and processing throughput profile.
• Northern Star Resources: Australian intermediate gold producer with multiple underground and open pit operations. Comparable in operating multiple mines feeding a single processing hub and producing gold doré for refining.
• Pan American Silver: Mid-tier precious metals producer with both gold and silver by-production. Comparable to Waihi's dual gold-silver doré profile and intermediate producer scale.

Broad incumbents

• Newmont Corporation: World's largest gold producer and former owner of the Waihi operation (until 2015). Direct historical operator of these assets and a benchmark for senior gold producer scale and capital intensity.
• AngloGold Ashanti: Global senior gold producer operating multiple mines across Africa, the Americas, and Australia. Comparable in producing gold doré from underground and open pit operations, but at global multi-million-ounce scale.
• Agnico Eagle Mines: Large diversified senior gold producer with multiple underground mines across Canada, Mexico, and Australia. Comparable in underground mining expertise and doré production, but at significantly larger scale.
• Barrick Gold: Global senior gold and copper producer with underground and open pit operations on multiple continents. Comparable in doré production, processing throughput, and regulatory/community management complexity.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/waihigold
• LinkedInlinkedin.com/company/oceanagold-waihi-operation

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Newmont Waihi Gold Ltd