The USD1.958 billion investment pledge from Canadian mining firm OceanaGold Corporation to extend its operations at the Didipio Gold-Copper Mine beyond 2035 will boost growth in Nueva Vizcaya and CARAGA Region.
Trade and Industry (DTI) Secretary Cristina A. Roque said OceanaGold’s investment pledge was discussed during the recent working visit of President Marcos Jr. to Canada.
Roque said the expansion project is expected to generate approximately 2,500 direct and indirect jobs for Filipinos. The investment will also support mine optimization, underground development, exploration, and reserve expansion at the Didipio Mine in Nueva Vizcaya, as well as selected exploration prospects in the CARAGA Region.
Secretary Roque welcomed the development, noting that the expansion highlights the country’s rising status as a preferred hub for sustainable global capital. She emphasized that the government remains dedicated to maintaining an attractive economic climate that creates local employment.
The proposed exploration and underground development activities are listed under the 2026–2028 Strategic Investment Priority Plan (SIPP) and may qualify for incentives under applicable laws, consistent with the government’s efforts to attract high-quality, job-generating investments.
The project also positions the Philippines as a key player in the global green transition. The copper and gold extracted from Didipio are critical raw materials for renewable energy technologies, electrification, and advanced manufacturing.
For Investment czar and Finance Secretary Frederick D. Go, OceanaGold’s planned expansion demonstrates growing investor confidence in the Philippines’ reform agenda and reinforces the country’s position as a competitive destination for responsible mining investments.
“The expansion of OceanaGold’s operations affirms that our reforms are creating the right conditions for long-term, high-quality investments. The Enhanced Fiscal Regime for Large-Scale Metallic Mining Act and the CREATE MORE Act are strengthening the Philippines’ competitiveness, while ensuring that responsible mining contributes to economic growth, quality job creation, and sustainable development,” said Secretary Frederick Go.
“As global demand for critical minerals continues to rise, the Philippines is well positioned to become a reliable supplier of the resources needed to power the clean energy transition.”
To date, OceanaGold has invested more than USD1.95 billion in the Philippines through the Didipio Mine. Its operations currently support around 1,700 to 2,000 direct employees and contractors, with more than 90 percent of its workforce composed of Filipino nationals.
Since 2013, the company has contributed approximately PHP27.56 billion in taxes, additional government share, and regulatory fees, while investing PHP4.43 billion in community development programs across its host communities.
The DTI reaffirmed its commitment to partnering with OceanaGold to ensure the project advances responsible mining practices while driving long-term economic growth.
