From NZResources:

Newmont introduces Correnso as a Waihi mine of the future

Simon Hartley — 24 August 2011
Newmont Waihi Gold has announced an underground exploration programme which could push its mine life out a further six years beyond 2020.
At present Newmont's gold and silver mining in the Martha east layback in the main Martha open pit is due to close in 2014, while its underground operations; Favona and Trio, are due to close in respectively 2011 and 2014.
Newmont Waihi Gold general manager, Glen Grindlay, said yesterday that the ongoing exploration activities had indicated "promising" deposits of gold and silver.
The historic mining township of Waihi and wider district are reliant on Newmont for up to about 700 jobs.
"Gold mining is a significant contributor to the local and national economies through money that goes back into the community and through taxes, employment and training," Grindlay said.
The Golden Link exploration programmes was in two parts: one being a small underground exploration quest located entirely within the existing Martha mining licence area and the main pit rim, while a potential new underground mine in Waihi East, named Correnso, could possibly replace the Favona and Trio underground mines.
Should the Correnso proposal proceed, deep underground mining would occur in blocks starting at the bottom of the ore body, 350m below the surface, and working up to the top of the ore body, at about 130m below the surface.
Following consultation and further investigation, Newmont expects to lodge Resource Management Act applications for the Correnso mine with the Hauraki District Council and Waikato Regional Council in early 2012.
NZResources.com comment: Yesterday's announcement to give longevity to the Waihi district is a credit to Newmont Waihi as the company made a decision to retain rather than sell the relatively small Waihi operations soon after acquiring it and Australian mining assets from Normandy Mining.
For more than a decade the company ploughed about $9 M annually into exploration that first outlined Favona and then Trio. One other regional project that may provide future grist for the mill is the joint venture with Glass Earth Gold on WKP West, north of Waihi.
*Simon Hartley is senior business reporter for the Otago Daily Times.