Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Wallingford, CT – April 01, 2014: CiDRA Minerals Processing Inc. announced today the successful deployment of their SONARtrac flow technology in OceanaGold’s Didipio gold mine in the Philippines. The SONARtrac system is a non-contact and non-invasive flow meter solution which enables the accurate volumetric monitoring of slurries as well as the presence of any entrained air or gas. CiDRA and Hidromac, CiDRA’s representative for the Philippines, successfully installed the SONARtrac system on the Didipio site’s hydrocyclone feed line in March 2014, and the operation concluded without the need for any process interruption. “We are delighted to have this opportunity to support OceanaGold and improve their process optimization” said Mike Murphy, Managing Director, CiDRA Pacific Rim, “this also represents our first success in the Philippines and we are excited with our plans for growth in this region and elsewhere in Asia”. Brennan Lang, General Manager for OceanaGold’s Didipio Operations says, “ we were interested in the SONARtrac system for our operations due to its non-invasive and high reliability capabilities. We were impressed with the ease of installation, and its immediate operational value at Didipio”.
About OceanaGold:
OceanaGold Corporation is a significant multinational gold producer with a portfolio of operating, development and exploration assets. The Company’s assets are located on the South Island of New Zealand, including one of the largest gold mines in the country and in the northern Philippines. OceanaGold has built a strong business in New Zealand, operating three mines – Macraes Open Pit, Frasers Underground and the Reefton Open Pit mines. In the northern Philippines, commissioning of the high grade gold-copper Didipio Project commenced in Q4 2012, as planned. The first copper concentrate was produced in December 2012 and commercial production was declared as of April 1, 2013.
About CiDRA:
Headquartered in Wallingford, Connecticut, USA, with an increasing number of international offices, CiDRA is a trusted partner and leading supplier of highly differentiated process optimization and enhanced recovery solutions and services to many of the world’s largest industrial markets. CiDRA’s products and services are being used at more than 350 customer locations in over 35 countries.
Additional information about CiDRA and the SONARtrac system can be found at www.cidra.com.
SONARtrac is a trademark of CiDRA.
