OceanaGold (Philippines), Inc. (OGPI) has remitted an additional ₱466.86 million to the Philippine government as part of its obligations under the Financial or Technical Assistance Agreement (FTAA) for Calendar Year 2024.
The payment made to the Mines and Geosciences Bureau (MGB) covers 60% of OGPI’s net revenue from mining operations, per Section 11.5 of the FTAA Contract. This second tranche of Additional Government Share (AGS) brings OGPI’s total government remittances over two years to approximately ₱1.6 billion.
The ceremonial turnover occurred on April 30, 2025, at the Office of the Director, MGB Central Office, in the presence of DENR Assistant Secretary for Mining Concerns and concurrent MGB OIC-Director Engr. Michael V. Cabalda; Engr. Manuel M. Binuya of the Mining Tenement Management Division; and Engr. Edgar C. Madera of the Mineral Economics, Information and Publication Division.
Engr. Cabalda emphasized the role of responsible mining in national development. “OceanaGold’s consistent contributions affirm that responsible mining can be a catalyst for nation-building. These remittances ensure the Filipino people benefit from our mineral resources while fostering a stable environment for responsible investment,” he said.
Joan Adaci-Cattiling, OGPI President, said the remittance reflects the company’s commitment to transparency and economic growth. In 2024, OGPI has also invested ₱203 million in community development projects in Nueva Vizcaya and Quirino Provinces, where the Didipio Mine operates.
OGPI’s Didipio Mine is an underground gold-copper project between the provinces of Nueva Vizcaya and Quirino. OGPI first entered an FTAA with the Philippine government in 1994. The agreement was renewed in July 2021.
Engr. Cabalda reiterated the agency’s call for transparent use of mining revenues. “We will continue to advocate for the equitable allocation of these funds for the benefit of all communities and ecosystems involved,” he said.
OGPI President Joan Adaci-Cattiling and MGB OIC Engr. Michael V. Cabalda review the letter to DENR on the ₱466.86M AGS remittance for 2024.
Adaci-Cattiling and Cabalda present the symbolic cheque for the ₱466.86M Additional Government Share turned over on April 23, 2024.
By: Mineral Economics, Information and Publication Division