OceanaGold’s gov’t payout surges P2.14B
The payment was formally turned over to the Department of Environment and Natural Resources this week, bringing the company’s total Additional Government Share remittances since 2023 to P3.74 billion as the rebound translated into higher fiscal returns under its Financial or Technical Assistance Agreement.
Canada-listed OceanaGold Corporation is a multinational mid-tier gold and copper producer with significant operations in the Philippines, New Zealand, and the United States. Founded in 1989, it operates four main mines — including the Didipio Mine in Nueva Vizcaya, Cagayan Valley, in the Philippines.
Photograph courtesy of Philippine Resource Journal
OceanaGold (Philippines) Inc., the major gold and copper producer operating the Didipio Mine in Nueva Vizcaya, Cagayan Valley, as a subsidiary of the Canadian-listed OceanaGold Corporation, has significantly increased its cash contribution to the Philippine government, remitting P2.14 billion in Additional Government Share (AGS) last year, driven by improved operations and strong commodity prices.
The payment was formally turned over to the Department of Environment and Natural Resources (DENR) this week, bringing the company’s total AGS remittances since 2023 to P3.74 billion as the rebound translated into higher fiscal returns under its Financial or Technical Assistance Agreement.
Greater value for the Philippine government
“The increase in our Additional Government Share reflects how strong operational performance translates into greater value for the government and the Filipino people,” said Atty. Joan Adaci-Cattiling, president and general manager for Social Performance and External Affairs, over the weekend.
“As our operations perform well, so does our contribution to the government’s fiscal space to support national priorities,” she added
The company also paid P1.78 billion in production taxes, P2.81 billion in income tax, and P506.9 million in local business taxes in 2025. These payments reflect the scale of its contributions to both national and local governments.
Likewise, it has allocated over P4.43 billion to community programs covering livelihood, agriculture, education, health, and infrastructure, linking OceanaGold’s financial performance to broader social impact.
Responsible mining’s contribution to national development
“This demonstrates that mining done responsibly generates meaningful contributions to national development while ensuring direct benefits on the lives and livelihoods of the host and neighboring communities,” DENR Secretary Juan Miguel Cuna said.
“This additional government share reflects compliance with our regulatory framework, adherence to contractual obligations, and a recognition that the state and its people are rightful partners in the utilization of our mineral resources,” Cuna stressed.
Under the FTAA, the government is entitled to 60 percent of net revenues, while OceanaGold retains 40 percent. Taxes and fees are deducted from the state’s share. Any remaining balance is released as an additional government share.