OceanaGold (Philippines), Inc. said the Bangko Sentral ng Pilipinas has renewed its 3-year agreement to buy gold from the listed mining company.
The renewed agreement, effective through March 2028, ensures that OceanaGold will offer at least 25 percent of its annual gold doré production to the central bank.
Atty. Joan Adaci-Cattiling, OceanaGold President and General Manager for External Affairs and Social Performance, highlighted the broader economic role of the partnership. “This demonstrates our steadfast and continued commitment as a partner for economic development and sustaining overall growth amid global uncertainties,” she said.
Doré, an unrefined alloy of gold and other metals, is a key component of BSP’s strategy to bolster gross international reserves. The renewed pact follows the initial agreement executed in May 2022, under which the listed mining company supplied a substantial portion of its output—9,453 ounces in 2022 and 12,865 ounces in 2023.
Even after the agreement lapsed in May 2024, OceanaGold continued to support BSP’s gold-buying initiative, selling 5,356 ounces under the central bank’s guidelines out of a total 6,628 ounces sold that year.
The continuation of this partnership aligns with the company’s obligations under its Financial or Technical Assistance Agreement with the Philippine government. More importantly, it reflects the company’s stated purpose of “mining gold for a better future,” reinforcing the integration of responsible mining and nation-building.
