OceanaGold (Philippines) Inc. (OGP), a publicly listed mining firm, reported a 14.4 percent year-on-year decline in net income to US$22 million for the first half of 2025, down from US$25.7 million in the same period last year.
In a disclosure to the Philippine Stock Exchange, the company cited an 8.7 percent decrease in gold production — from 49,400 ounces in H1 2024 to 45,100 ounces this year — as a contributing factor to the earnings decline.
Copper production for the period, however, rose by 22.4 percent to 7,100 tons, up from 5,800 tons in the previous year.
Revenue for the first half of 2025 increased to US$175.5 million from US$160.9 million in H1 2024.
“For the second half of the year, our priority is to deliver on our guidance while investing in the growth potential of our business and continuing to generate strong free cash flow and returns for our shareholders,” said OGP president Joan Adaci-Cattiling.
OGP operates the Didipio gold-copper mine, which straddles Nueva Vizcaya and Quirino. The company projects gold production of 85,000 to 105,000 ounces and copper output of 13,000 to 15,000 tons.
