Macraes Mine in

East Otago East Otago is the name given to that part of Otago, in the South Island of New Zealand that lies directly to the north of Dunedin. To the south, its limit is approximately the rough hill pass of the Kilmog, 25 kilometres north of Dunedin city ce ...

New Zealand New Zealand () is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and List of islands of New Zealand, over 600 smaller islands. It is the List of isla ...

's largest gold mine, and consists of a large scale opencast mine opened in 1990, and a newer underground mine, opened in 2008.Macraes Mine
at Oceana Gold It is situated close to the settlement of Macraes Flat and is owned by

OceanaGold OceanaGold Corporation (OceanaGold), previously named Macraes Mining Company and then GRD Macraes, is a gold mining and exploration company based in Vancouver, Canada and Brisbane, Australia OceanaGold operates the Haile Gold Mine in the United ...

Corporation. Gold production averaged 193,000

Troy ounce Troy weight is a system of units of mass that originated in the Kingdom of England in the 15th century and is primarily used in the precious metals industry. The troy weight units are the grain, the pennyweight (24 grains), the troy ounce (20 p ...

s/year for 2008 through 2010. Ore grades have been declining, to 1.26 grams/tonne in 2010, but recoveries have improved slightly to 81% of the gold contained in the ore, in 2010. From 1990 through 2014, gold production totaled about 4 million ounces. The mine's 5 millionth ounce was poured in July 2019. The company claims a gold reserve of 1.53 MM troy oz Au plus a larger subeconomic gold resource; and expects the mine to operate at least through 2021. As of July 2019, over 5 million ounces of gold have been extracted. The gold bearing rocks were formed by the orogenic processes that created the Otago Schist belt.

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Macraes Mine
at Oceana Gold Buildings and structures in Otago Gold mines in New Zealand Open-pit mines Surface mines in New Zealand {{Mine-stub