OceanaGold will cut 60 jobs from its Reefton gold mine as operations at the site wind down, approximately
Last year the miner announced that it would be placing the operation in to care and maintenance two years early as the gold price fell.
The company said the mine plan will be adjusted, and pending an improvement in the gold price its Globe Progress pit will be put into care and maintenance half way through 2015.
Speaking to the Diggers and Dealers delegation in Kalgoorlie this last year OceanaGold’s managing director Michael Wilkes said for its Reefton operations to not be put into care and maintenance a gold price of $NZ2000 ($AU1755) would give the company enough cash flow to justify further investment.
As the wind down begins it has already "indicated 60 jobs will be going in the immediate future," the mine region's mayor Garry Howard said, according to Stuff.co.nz
With the site employing around 240 workers, this cut equals a quarter of the workforce at the mine.
Howard added that while the announcement has been "signalled for some time" it was still a blow for the region.
It comes after another mine in the region, Solid Energy's Stockon coal mine, will be cutting around 200 jobs.
OceanaGold was not available for comment at the time of publication.