OceanaGold (Philippines), Inc. (“OGPI” or the “Company”) is one of the leading producers of gold and copper in the Philippines, and is a subsidiary of OceanaGold Corporation (“OGC”).
The Company operates the Didipio gold and copper mine located in the northern Luzon region of the Philippines (the “Didipio Mine”), approximately 270 km north-northeast of Metro Manila. The Didipio Mine is operated by the Company under a Financial or Technical Assistance Agreement (“FTAA”) with the Government, which grants the Company title, exploration and mining rights within a fixed fiscal regime. The FTAA was executed in 1994, and was renewed on July 14, 2021 for an additional 25-year period commencing on June 19, 2019.
Commercial production at the Didipio Mine was declared on April 1, 2013. The open pit mine was completed to final design in May 2017 after five years of mining. The underground project commenced in March 2015 with the construction of the underground portal. The mining operations at the Didipio Mine currently consist of sourcing ore from the underground mine and from its surface ore stockpile. The ore is then processed through the Company’s processing plant, which operates at approximately 4.0 Mtpa producing both gold doré and copper concentrate.
As part of OceanaGold, the Company adheres to OGC’s approach to responsible mining, guided by an overarching “Responsible Mining Framework.” The framework defines how OGC strives to operate every day, at every level of its business, to manage potential economic, environmental and social impacts and risks, while leveraging the potential to enhance the positive outcomes for all its stakeholders.