Listed mining firm OceanaGold (Philippines) Inc. (OGPI) reported a 95.1 percent rise in its net income for the first nine months of 2026, reaching $95.6 million from just $49 million in the same period last year. Revenues also climbed 36.9 percent to $434.4 million, up from $317.2 million in the first nine months of 2025. While gold and copper output dipped during the period, the company noted that stronger metal prices more than made up for lower production volumes. Gold output stood at 64,500 ounces, down 3.6 percent year on year, while copper production fell 8.8 percent to 9,300 metric tons.
During the third quarter, OGPI maintained steady operations and generated $51 million in free cash flow, enabling the declaration of another healthy dividend for shareholders, according to company president Atty. Joan Adaci-Cattiling. The firm also continues to move forward with key growth initiatives, including ramping up underground mining activities, accelerating exploration drilling, and completing an advanced drilling program at its True Blue prospect, with ongoing technical studies to update its mineral resource estimates. OGPI operates the Didipio gold and copper mine spanning Nueva Vizcaya and Quirino provinces, and earlier this year set its full-year production guidance at 85,000 to 105,000 ounces of gold and 13,000 to 15,000 metric tons of copper. The strong financial performance underscores the company’s robust profitability and ability to deliver shareholder value even amid lower output, supported by favorable market conditions and disciplined operational management.
