2 CANADIAN MINING COMPANIES TO EXPAND  PH OPERATIONS

CANADA-based OceanaGold Corp. is carrying out a US$1.9 billion expansion plan that is set to reinforce the Philippine mining ecosystem following its productive meeting with President Ferdinand R. Marcos Jr. to extend the operational life of the Didipio Gold-Copper Mine until 2037.

Leveraging crucial VAT-related incentives under the CREATE MORE Act to enhance capital efficiency, the company’s project balances resource optimization with a minimized environmental footprint across Nueva Vizcaya and Quirino.

Also on the sidelines of his Canada Official Visit, President Marcos had a one-on-one meeting Friday with the executives of B2Gold Corp., another Canadian mining company, and Philippine-based Filminera Resources Corp. to discuss planned expenditures of approximately US$14-million relating to the solar plant expansion of the Masbate Gold Project and exploration programs.

B2Gold Corp. and Filminera Resources Corp. jointly operate the Masbate Gold Project.

In addition, B2Gold has provided the President a letter that commits the company, subject to further agreement between the parties, to provide technical and exploration expertise to evaluate opportunities to extend the mine life of the Masbate Gold Project.

B2Gold executives updated the President on new exploration initiatives being advanced in the Philippines through the B2Gold Philippines Exploration Office.

The company put up the office following its positive experience in its Philippine operation, with B2Gold executives disclosing that the Masbate Gold Project generated over P10 billion in taxes paid to local and national governments in 2025, “thus making the company the largest tax payer in the whole of Bicol.”

Masbate Gold Project’s extensive tax contributions helped raise its host town of Aroroy from a lower-income 4th-class to a thriving 1st-class municipality, translating into superior public infrastructure alongside robust educational assistance and training programs for local scholars.

Trade Secretary Maria Cristina Aldeguer-Roque said in an interview that the President’s meeting with the Canadian mining companies is about their expansion initiatives in the Philippines.

“They reiterated their expansion plans and they’re very happy with the new policies. Kasi may mga bagong policies na… but of course, they’re really hoping that we could shorten pa rin the time. Merong mga policies na, I mean, merong mga processes na mahaba pa ‘yung time,” Roque said.

“They already discussed with Secretary (Juan Miguel) Cuna and they already agreed to really work closely together to really strengthen the mining industry in the Philippines,” Roque added.

The Trade Secretary also said the Canadian companies assured the President that they will continue to expand and they will continue to strengthen their Philippine operations.