A US$1.9-billion investment is expected to extend the life of the Didipio Gold-Copper Mine while supporting jobs, local economic growth, and responsible mining in the Philippines.
The Office of the President said the investment was discussed during a meeting between President Ferdinand Marcos Jr. and executives of OceanaGold Corporation in Vancouver, Canada.
The funding will support the continued operations of the Didipio mine in Nueva Vizcaya and Quirino until 2037, ensuring the long-term development of one of the country’s major mining projects.
The project is expected to benefit from the Enhanced Fiscal Regime for Large-Scale Metallic Mining Act and the CREATE MORE Act, which seek to improve capital efficiency, attract investments, and promote responsible resource development.
The government said the investment will help optimize the development of the Didipio mine while reducing its environmental footprint and sustaining employment and economic activity in host communities.
The initiative is part of the Marcos administration’s broader push to draw investments that support sustainable economic growth while advancing safe and environmentally responsible mining practices.