OceanaGold predicts increase in gold production

OceanaGold has predicted its gold production will climb as much as 44% in 2013.

The company says the increase will come at a cheaper production cost, as its new mine in the Philippines kicks off.

OceanaGold also operates the Macraes gold mine near Dunedin.

The Melbourne-based company said in a statement it has had a strong finish to the year.

Production in New Zealand was on track, and expected to be strong next year both here and in the Philippines.

The company's shares stood at $3.34 on the NZX this afternoon, down 3.1%.

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