BAYOMBONG, Nueva Vizcaya — A $1.9-billion investment is expected to extend operations at the Didipio Gold-Copper Mine in Northern Luzon through 2037, with government and company officials saying the project will focus on job retention, local economic growth and safer mining.
OceanaGold Philippines Inc. (OGP) executives said they have met with President Ferdinand Marcos Jr. in Vancouver, Canada, to discuss the long-term plan for the world-class mine, which straddles the provinces of Nueva Vizcaya and Quirino.
OGP executives said the meeting resulted in a commitment to continue and expand operations at Didipio in the mineral-deposit-rich upland town of Kasibu in this province, one of the country’s largest metallic mining projects.
Supporting communities
Under the new investment plan, the life of the Didipio mine will be extended by more than a decade. Company officials said the additional capital will go toward mine development, processing efficiency, workforce support and community programs in host and neighboring areas.
The project is expected to sustain thousands of direct and indirect jobs in the two provinces. For communities that rely on mining-related employment, the extension provides continuity for livelihoods that would have ended earlier without the new investment.
Policy support
The investment will draw on two key laws: the Enhanced Fiscal Regime for Large-Scale Metallic Mining Act and the Create More Act.
Government officials said the measures are designed to improve capital efficiency, provide fiscal predictability for large projects and encourage responsible resource development.
By using the updated fiscal framework, OceanaGold aims to optimize resource extraction and processing while keeping costs competitive.
The goal, according to both the company and the government, is to balance resource development with environmental management.
Focus on responsible mining
OGP executives also said that the extended operation will incorporate practices intended to minimize environmental footprint across the mine site and surrounding areas, including water management, waste handling and rehabilitation planning aligned with national standards.”
The Didipio mine has been a major contributor to exports and local revenues since it began commercial production in 2013.
With the extension to 2037, officials said the project can continue supporting skills training, supplier networks and social development programs in Nueva Vizcaya and Quirino.
Marcos described the investment as a signal of confidence in the Philippines as a mining jurisdiction that is open to large-scale, responsible development.
For OceanaGold, the commitment locks in a long-term presence in the country and provides a clear timeline for planning, hiring and community investments.
With the new funding in place, officials said work to implement the mine-life extension is expected to ramp up in the coming months, with both government and company teams coordinating on permitting, monitoring and local development initiatives tied to the project.