Canada's OceanaGold plans $1.9-B expansion in PH

MANILA, Philippines — Canada-based mining companies announced plans to expand their operations in the Philippines during a high-level roundtable discussion on critical minerals and energy with President Ferdinand Marcos Jr. on Friday (Canadian time).

The Presidential Communications Office (PCO) said in a press release that OceanaGold Corp., a gold mining and exploration company, plans to invest $1.9 billion to expand its operations in the Philippines.

According to the PCO, the expansion aims to extend the operational life of the Didipio Gold-Copper Minein Kasibu, Nueva Vizcaya, through 2037.

READ: Marcos arrival in Canada

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The President expressed that the expansion is expected to bring “lasting benefits to Nueva Vizcaya, Quirino and the communities that have long been part of the project’s success,”

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The project also leverages the Enhanced Fiscal Regime for Large-Scale Metallic Mining Act, as well as the CREATE MORE Act to improve capital efficiency, optimizing resource development while minimizing the environmental footprint across Nueva Vizcaya and Quirino, PCO said.

READ: Marcos begins 4-day Vancouver visit to boost Philippines-Canada ties

Furthermore, Marcos also discussed planned expenditures with executives of Canadian-based B2Gold Corp., and Philippine-based Filminera Resources Corp., joint operators of the Masbate Gold Project.

Approximately $14 million is set to support the solar plant expansion of the Masbate Gold Project, as well as new exploration initiatives, according to PCO.

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In 2025, the Masbate Gold Project generated more than P10 billion in taxes paid to local and national governments, thereby being recognized as the top taxpayer in the Bicol region, PCO highlighted.

Trade Secretary Maria Cristina Aldeguer-Roque said the executives and the President also discussed with Environment Secretary Juan Miguel Cuna and agreed “to really work closely together to really strengthen the mining industry in the Philippines.”

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The President also witnessed the signing of the memorandum of understanding between the Philippine Chamber of Commerce and Industry and the Business Council of Canada, aimed at attracting investments and bolstering economic development.

Meanwhile, during roundtable discussions with businesses on digital economy, Marcos Jr., alongside Roque and Finance Secretary Frederick Go, also met with executives of NQX, Vancouver-based contact center provider, to discuss a $10.3-million expansion program.

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The three-year business expansion plan is set to scale its high-tech customer experience and software engineering operations in the country, according to PCO. /jpv