Following highly productive meetings between President Ferdinand R. Marcos Jr. and top Canadian mining executives, the Philippine mining ecosystem is poised for a massive transformation.
Leading global firms OceanaGold Corp. and B2Gold Corp. have reaffirmed their long-term commitment to the country, announcing multi-billion-dollar expansion plans, green energy initiatives, and continued support for local economies.
Canada-based OceanaGold Corp. is moving forward with a landmark US$1.9 billion expansion plan, significantly reinforcing the nation’s mining sector. The announcement follows a successful meeting with President Marcos Jr., securing the operational life of the Didipio Gold-Copper Mine through 2037.
Leveraging crucial VAT-related incentives under the newly enacted CREATE MORE Act to enhance capital efficiency, OceanaGold’s project is engineered to balance intense resource optimization with a strictly minimized environmental footprint across the provinces of Nueva Vizcaya and Quirino.
On the sidelines of the President’s official visit, one-on-one discussions were also held with executives from B2Gold Corp. and its local partner, Philippine-based Filminera Resources Corp. The joint operators of the Masbate Gold Project outlined approximately US$14 million in planned expenditures dedicated to:
-
A major solar plant expansion to power the Masbate Gold Project with renewable energy.
-
Aggressive new exploration programs managed by the newly established B2Gold Philippines Exploration Office.
Furthermore, B2Gold formalized its commitment by presenting President Marcos with a letter of intent to provide specialized technical and exploration expertise aimed at extending the mine life of the Masbate Project, subject to future agreements.
The tangible benefits of these partnerships are already evident in Bicol. B2Gold and Filminera executives disclosed that the Masbate Gold Project generated over PhP10 billion in taxes paid to local and national governments in 2025 alone, officially making the venture the largest taxpayer in the entire Bicol region.
This massive fiscal contribution has served as a powerful economic engine, successfully elevating the host town of Aroroy from a lower-income 4th-class municipality to a thriving 1st-class municipality. The revenue has directly translated into superior public infrastructure, robust educational assistance, and specialized training programs for local scholars.
Trade Secretary Maria Cristina Aldeguer-Roque noted that the Canadian firms expressed strong enthusiasm for the administration’s economic direction while advocating for continuous procedural improvements.
“They reiterated their expansion plans and they’re very happy with the new policies,” Secretary Roque stated, while acknowledging feedback regarding regulatory timelines. “Of course, they’re really hoping that we could shorten the time for certain long processes. They have already discussed this with Environment Undersecretary Juan Miguel Cuna, and they have agreed to work closely together to truly strengthen the mining industry in the Philippines.”
The Department of Trade and Industry (DTI) and the Department of Environment and Natural Resources (DENR) are actively collaborating with industry stakeholders to accelerate regulatory timelines, ensuring that the Philippines remains a premier, competitive, and responsible destination for global mining capital.
