Vancouver, Canada – Two Canadian mining companies announced plans to expand their operations in the Philippines after separate meetings with President Ferdinand Marcos Jr. on the sidelines of his official visit to Canada.
In a statement, officials said the discussions focused on planned investments, mine expansion and exploration projects.
OceanaGold Corp. said it is pursuing a US$1.9 billion (about ₱106 billion) expansion of the Didipio Gold-Copper Mine in Nueva Vizcaya and Quirino. The company said the project is intended to extend the mine’s operating life until 2037.
Marcos also met with executives of B2Gold Corp. and Filminera Resources Corp., which jointly operate the Masbate Gold Project.
The companies discussed plans to invest about US$14 million (about ₱784 million) in expanding the project’s solar power facility and carrying out additional exploration activities.
B2Gold also submitted a letter expressing its intention, subject to further agreement, to provide technical and exploration expertise to evaluate opportunities to extend the life of the Masbate Gold Project.
Company executives also briefed Marcos on exploration work being undertaken through B2Gold’s Philippines Exploration Office.
According to the company, the Masbate Gold Project paid more than ₱10 billion in local and national taxes in 2025.
Trade Secretary Cristina Roque said the mining firms reaffirmed their plans to expand in the Philippines and expressed support for recent government policy reforms.
She said the companies also raised concerns about the length of some permitting and regulatory processes.
“They reiterated their expansion plans and they’re very happy with the new policies,” Roque added in a statement.
She said the companies have begun discussions with Environment Secretary Juan Miguel Cuna on ways to streamline procedures and strengthen the mining industry.
