A planned USD1.9-billion investment by OceanaGold to extend the life of the Didipio Gold-Copper Mine through 2037 is shaping up as more than a mining expansion—it is emerging as an early test of whether the Philippines’ recent fiscal reforms can unlock a new wave of responsible resource investments.
The investment was discussed during President Ferdinand R. Marcos Jr.’s meeting with OceanaGold executives in Vancouver, where both sides reaffirmed their commitment to the long-term development of the Didipio Mine.
For Nueva Vizcaya and Quirino, the project promises continued employment, stronger demand for local suppliers, and sustained economic activity anchored on one of the country’s largest gold and copper operations. Extending the mine’s lifespan also provides greater certainty for businesses and communities that depend on its operations.
Equally significant is the signal it sends to global investors.
Government officials said the investment will capitalize on the Enhanced Fiscal Regime for Large-Scale Metallic Mining Act and the CREATE MORE Act, reforms aimed at making the Philippines a more competitive destination for capital-intensive projects through a more predictable tax regime and improved investment incentives.
Mining has long been one of the country’s most polarizing industries, balancing vast mineral wealth against environmental concerns. The Didipio expansion highlights the administration’s bid to reframe the sector around responsible mining—one that attracts capital while demanding higher environmental, social, and governance standards.
OceanaGold said it will continue adopting responsible mining practices, minimize the project’s environmental footprint, and maintain close engagement with host communities.
If successfully executed, the investment could strengthen the case that regulatory stability, coupled with stricter sustainability commitments, can encourage long-term investments without sidelining environmental accountability.
For the Marcos administration, the Didipio expansion is not just about extracting more gold and copper. It is about proving that responsible mining can generate jobs, fuel regional growth, and restore investor confidence in one of the Philippines’ most underdeveloped economic sectors.
