Huge gold find in Central Otago

February 14, 2024

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In a significant find, Santana Minerals Ltd, has discovered an estimated 2.9 million ounces of gold in Central Otago, near Bendigo. This discovery is valued at over $9 billion. The gold is part of the Bendigo-Ophir Gold Project, covering a 272 sq km area.

Santana Minerals plans to apply for resource consent later this year. If the consent is given by the Government and Council, they believe it could yield between 100,000 to 150,000 ounces of gold annually, equivalent to at least $325 million each year.

The project promises to boost the local economy significantly, potentially creating many jobs. About $1 million a month is currently being spent on drilling and other services, employing about 30 people on site.

Environmental testing, feasibility studies, and community consultations, including with tangata whenua, are crucial before mining begins. Baseline environmental studies and ecological assessments are underway to ensure minimal impact on the local environment.

Support for the project comes from both the government, seen as pro-mining, and significant local landowners. This support is key to the project’s viability, considering its potential economic benefits.

The region’s rich history in gold mining dates back to the Central Otago gold rush in 1862. Santana Minerals, which acquired Matakanui Gold in 2020, is poised to add a new chapter to this history.

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