Higher revenues continue to bolster economic development and environmental protection programs
OceanaGold (Philippines), Inc. (OGP) remitted PHP 506.9 million in local business taxes (LBT) to three municipalities in Nueva Vizcaya and Quirino for 2026—a 20.2% increase from the PHP 421.9 million paid the previous year. The higher remittances were driven by the company’s improved financial performance in 2025.
Of the total LBT paid, PHP 253.5 million went to Kasibu in Nueva Vizcaya, while PHP 152.1 million and PHP 101.4 million were remitted to Nagtipunan and Cabarroguis in Quirino, respectively.
“We believe that as we grow, our host municipalities grow with us. This is one of the direct and immediate benefits of responsible resource development,” said Atty. Joan Adaci-Cattiling, OGP President and General Manager for External Affairs and Social Performance. “With this increased local business tax contribution, we hope to support the development projects of our host municipalities.”
Under an existing memorandum of agreement with OGP, the beneficiary municipalities have committed a portion of their LBT collections to environmental initiatives. Kasibu set aside PHP 10 million, while Cabarroguis and Nagtipunan each allocated PHP 5 million for environmental management, protection, and conservation programs.
OGP’s sustained contributions have helped maintain the classification of Kasibu, Nagtipunan, and Cabarroguis as first-class municipalities, a status awarded to local government units with an average annual income of PHP 200 million or more. This classification underscores the growing fiscal capacity of these LGUs, enabling them to expand public services and invest in long-term development.
“We thank our partner communities and local leaders for their continued support—dakkel ti panagyaman mi kadakayo amin (we are very grateful to all of you),” Adaci-Cattiling added. “Our strong partnership allows us to continue delivering programs and contributions that meaningfully benefit our communities.”
OGP’s LBT remittances have shown a consistent upward trend in recent years: PHP 421.9 million in 2025 and PHP 326.2 million in 2024, buoyed largely by favorable gold prices and strong operational performance.
OceanaGold (Philippines), Inc., a corporation organized and existing under Philippine law, operates the Didipio gold-copper mine in Luzon under a Financial or Technical Assistance Agreement. The company is committed to safely and responsibly maximizing the generation of free cash flow from its operations and delivering strong returns for its shareholders.
