MINING

Waihi North Project

OceanaGold · Waikato

OceanaGold's expansion of the Waihi gold operation, including the Wharekirauponga underground deposit north of Waihi. About NZ$1b of investment, extending Waihi mining to 2043 with production from about 2032. The Expert Panel granted final approval on 18 December 2025, the first major mining project consented under the Act.

Strongest delivery signals Data: High

Delivery Confidence Score, 0 to 100, higher is better: a ranking of how strong this project's delivery signals are, not a probability. It blends eight factors, including the election risk and policy alignment shown below.

Breakdown▾

Data current as at 16 Sept 2026, when the pipeline was last checked against its source.

Key facts

Region: Waikato
Sector: Mining
Status: Under Construction
Estimated value: $1b
Indicative completion: 2032
Funding status: Fully Funded
Lead organisation: OceanaGold
Election risk: Medium

Election risk assessment

Consented and funded gold-mine expansion at Waihi, so delivery risk is lower, but part of the works sits near conservation land and mining policy would cool under a Labour-led government.

Government priority alignment

HIGH: Aligns with the minerals strategy and was a nationally significant Fast-track approval.

Recent changes

2026-W37Major New project added: Waihi North Project (Under Construction, $1b).

Chronology

2024Waihi North referred into the fast-track process
2025Construction of the 5km services trench begins in Q3. The Expert Panel grants final approval on 18 December
2026Mining contractor mobilises, with tunnelling due to start in the first half of the year and water treatment plant works completing by Q2
2032expectedGold production expected to begin from the Wharekirauponga underground mine, with first stope ore anticipated the following year

Source

OceanaGold: Waihi North Project ↗ · Beehive: Large-scale mining on track for 2026 ↗ · RNZ / Beehive (Waihi North fast-track approval, 2026) ↗

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