Mining company OceanaGold has gained approval from the Overseas Investment Office to purchase the Waihi mines from Newmont Mining Corporation.

OceanaGold managing director and chief executive officer Mick Wilkes says the company is pleased to receive the office's approval and expects the deal to be completed by October 30.

Waihi Mines. Photo: File

He adds that the company looks forward to integrating the Waihi operation into its business.

'The Waihi operation represents a strong strategic fit with our existing business and we are excited to welcome this high quality asset and its talented team into OceanaGold.

'We look forward to working with employees, contractors and local stakeholders to add further value to this unique operation by extending mine life and seeking out operational efficiencies.”

In June of this year OceanaGold announced it had purchased the Waihi mine from Newmont for US$101 million (NZD $143m) in cash plus a US$5m (NZD$7m) contingent payment.