OceanaGold (Philippines) Inc. (OGP) said its updated technical reports show that the Didipio gold and copper mine will operate until 2037.
In a disclosure to the Philippine Stock Exchange on Monday, the company said the updated mine plan is expected to generate strong cash flow. The plan is based on 2025 mineral reserves and does not yet include additional potential resources, which could further extend the mine’s life.
The Didipio mine is located across Nueva Vizcaya and Quirino. Despite the update, OGP said its production guidance for the year remains unchanged.
The company projects the mine to produce 85,000 to 105,000 ounces of gold and 13,000 to 15,000 metric tons of copper this year. It has allocated US$65 million in capital spending for upgrades, plant improvements, and mine maintenance.
For 2025, OGP reported a 152.5 percent increase in net income to US$76.5 million, driven by higher gold and copper prices. Revenues rose 27.9 percent to US$438.8 million.
Gold production fell 6.5 percent to 90,700 ounces due to severe weather affecting mine access, while copper output increased 8.1 percent to 13,300 metric tons.
