Daily TribuneOceanaGold Corp. will invest $1.9B for the expansion of its Didipio Gold-Copper Mine until 2037; likewise, B2Gold Corp., with Philippine partner Filminera Resources Corp., eyes a $14 million expansion of the solar plant in its Masbate Gold Project.
PRESIDENT Ferdinand R. Marcos Jr. shakes hands with Gerard Bond, president and CEO of OceanaGold Corporation in Vancouver during his official visit to Canada on Friday, 3 July 2026. The Canadian company plans to invest $1.9 billion in expanding the operations of its Didipio Gold-Copper Mine in the Philippines until 2037.
PHOTOGRAPH courtesy of PCO
The four-day official visit to Canada by President Ferdinand Marcos Jr. has yielded positive results, including assurances of investments in the Philippines by Canadian firms.
In a statement on Saturday, Malacañang said Canada-based OceanaGold Corp, following a productive meeting between the President and top representatives of the company, will implement a $1.9 billion expansion plan that will reinforce the Philippine mining ecosystem through an extension of the operational life of Oceana’s Didipio Gold-Copper Mine until 2037.
Lured by the eased perks for foreign investors stipulated in the CREATE MORE Act, this project by OceanaGold balances resource optimization with a minimized environmental footprint across Nueva Vizcaya and Quirino provinces.
B2Gold’s Masbate Gold Project
Also on the sidelines of his official visit to Canada, President Marcos had a one-on-one meeting Friday with the executives of B2Gold Corp., another Canadian mining company, and Philippine-based Filminera Resources Corp. to discuss planned expenditures of approximately $14 million relating to the solar plant expansion of their Masbate Gold Project and exploration programs.
B2Gold Corp. and Filminera Resources Corp. have a presence in the Philippines through their joint operation of said Masbate Gold Project.
In addition, B2Gold has provided the President a letter that commits the company, subject to further agreement between the parties, to provide technical and exploration expertise to evaluate opportunities in extending the mine life of the project.
B2Gold executives updated the President on new exploration initiatives being advanced in the Philippines through the B2Gold Philippines Exploration Office.
Largest Bicol province taxpayer
The company opened the office following its positive experience in its Philippine operation, with B2Gold executives disclosing that their Masbate gold project had generated over P10 billion in taxes paid to local and national governments in 2025, thus making the company the biggest taxpayer in Bicol province.
Masbate Gold Project’s extensive tax contributions helped raise its host town of Aroroy from a lower-income 4th-class to a thriving 1st-class municipality, translating into superior public infrastructure alongside robust educational assistance and training programs for local scholars.
Phl expansion initiatives
Trade Secretary Maria Cristina Aldeguer-Roque said that the President’s meeting with the Canadian mining companies is about their expansion initiatives in the Philippines.
“They reiterated their expansion plans and said they’re very happy with the new policies. Kasi may mga bagong policies na… but they’re really hoping we could shorten the time, I mean, there are processes that take a long time,” she said.
“They already discussed with Secretary (Juan Miguel) Cuna, and they already agreed to really work closely together to really strengthen the mining industry in the Philippines,” Roque added.
