The modern OceanaGold Macraes goldmine is one and a half kilometres along Macraes Road northeast of the town. It started operation in 1989. Initially, the mine location was a hill, but it is now the largest gold mine pit in NZ, producing around 120,000 ounces annually. The pit is about 200 metres deep, and the mine has also been extended to underground mining.
As you drive towards the mine, there is a public entrance with access to a viewpoint. This provides an excellent view across the main pit.