OceanaGold (Philippines) Inc. (OGP) has remitted P466.86 million to the Bureau of the Treasury as government share in its mining operations for fiscal year 2024, the Mines and Geosciences Bureau (MGB) said.
The remittance raises OGP’s total AGS contribution of P1.6 billion the past two years under the terms of its financial or technical assistance agreement (FTAA) at the Didipio gold-copper mine in Nueva Vizcaya and Quirino.
MGB director Michael Cabalda lauded the contributions, calling OGP a “reliable partner” in nation-building through responsible mining. OGP president Joan Adaci-Cattiling said the firm’s AGS payments exemplify the economic benefits of sustainable mining practices.
In addition to the AGS, OGP paid P870 million in excise taxes and P512 million in local taxes and fees last year. The FTAA mandates a 60-40 revenue split favoring the government, with the AGS determined after tax and fee deductions.
OGP spent P525 million to develop the mines in 2024, including projects under its social development and management program.
The company targets mining 105,000 ounces of gold and 15,000 tons of copper from Didipio this year.
