Gold steadies as traders focus on uncertain 2025 rate path
Gold has hit successive records this year and is set to close 2024 more than 25% higher.
OceanaGold (TSX: OGC) is halting operations at its Didipio gold mine in the Philippines for 24 hours after an employee died at the site.
According to the company, the worker was found unresponsive near the paste plant and could not be revived at the on-site medical clinic.
In a press release Friday, OceanaGold said an investigation into the incident is underway.
Didipio, which began production in 2013 and is located 270 km north of Manila, has a measured and indicated resource of 1.3 million ounces of gold and 160,000 tonnes of copper.
The mine produced 26,300 ounces of gold, about 28% of the company’s total gold production, in the first quarter of 2024.
Earlier this year, the Vancouver-based miner sold 20% of its unit in Philippines through an initial public offering.
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