VANCOUVER, Canada — Canadian mining firm B2Gold Corp. is planning to invest approximately $14 million for the solar plant expansion at the Masbate Gold Project and ongoing exploration programs, Malacañang said Friday (Saturday in Manila).
The commitment was made during President Ferdinand Marcos Jr.'s meeting with executives of B2Gold Corporation and Filminera Resources Corporation on the sidelines of his official visit to Canada.
During the meeting, B2Gold briefed Marcos about its plan, which is subject to further agreement between the parties, to provide technical and exploration expertise to assess opportunities for extending the operational life of the Masbate Gold Project, the Presidential Communications Office (PCO) said.
The PCO said the B2Gold executives also updated the President on new exploration initiatives through the B2Gold Philippines Exploration Office, established following the company's positive experience operating in the Philippines and reflecting its continued confidence in the country's mining sector.
The Masbate Gold Project is a major open-pit gold mining operation in the Philippines jointly operated by B2Gold subsidiary Philippine Gold Processing and Refining Corp. and Philippine firm Filminera.
In 2025, the Masbate Gold Project generated more than P10 billion in taxes for local and national governments.