The Philippines and Canada have strengthened their cooperation on critical minerals and responsible mining through a new bilateral agreement, while President Ferdinand R. Marcos Jr.'s official visit to Canada also secured new investment commitments that could extend the life of two of the country's largest gold mining operations.
Environment Secretary Juan Miguel Cuna and Canadian Minister of Foreign Affairs Anita Anand signed a Joint Declaration of Intent (JDI) on Energy and Natural Resources in Vancouver, witnessed by President Marcos and Canadian Prime Minister Mark Carney.
The declaration establishes a framework for cooperation on critical minerals development, responsible mining, clean energy, and environmental stewardship as global demand for minerals essential to the energy transition continues to rise.
Cuna said the Philippines possesses significant untapped mineral potential, with an estimated 9 million hectares of the country's 30 million hectares believed to contain mineral deposits that have yet to be explored.
He said Canada has long been recognized as a global leader in responsible mining and advanced mining technologies, making it an important partner as the Philippines seeks to modernize its mining industry.
Building on discussions held during this year's Prospectors and Developers Association of Canada conference in Toronto, the two countries have identified several priority areas for collaboration. These include developing a digital mining governance platform to improve permitting and compliance monitoring, strengthening mine waste and tailings management through Canadian technical expertise, and advancing critical mineral mapping using geoscience and artificial intelligence to accelerate exploration.
According to Cuna, the Joint Declaration of Intent provides the formal framework for implementing these initiatives and expanding long-term cooperation between the two countries.
OceanaGold extends Didipio mine
On the sidelines of his official visit, Marcos also met with executives of Canadian mining companies to discuss new investments in the Philippines.
OceanaGold Corp. committed approximately USD1.9 billion to extend the operational life of the Didipio Gold-Copper Mine through 2037.
The investment is expected to support continued employment, strengthen local economic activity, and sustain responsible mining operations in Nueva Vizcaya and Quirino.
According to the government, the project will leverage the Enhanced Fiscal Regime for Large-Scale Metallic Mining Act and the CREATE MORE Act to improve capital efficiency while minimizing its environmental footprint.
B2Gold expands Masbate operations
Marcos also met with executives of B2Gold Corp. and Filminera Resources Corp., who announced plans to invest approximately USD14 million to expand the Masbate Gold Project through additional exploration activities and a larger solar power facility.
According to the Presidential Communications Office, the investment will support the expansion of the mine's renewable energy capacity while funding ongoing exploration programs.
B2Gold also briefed the President on plans, subject to further agreement between the parties, to provide technical and exploration expertise to evaluate opportunities for extending the operational life of the Masbate Gold Project.
The company likewise presented new exploration initiatives through the B2Gold Philippines Exploration Office, which it established following its positive operating experience in the country.
The investment commitment reflects the Canadian miner's continued confidence in the Philippine mining industry.
The Masbate Gold Project, jointly operated by B2Gold subsidiary Philippine Gold Processing and Refining Corp. and Philippine company Filminera Resources Corp., is one of the country's largest open-pit gold mining operations.
In 2025, the project generated more than PHP10 billion in taxes for local and national governments.
According to the Presidential Communications Office, these tax revenues helped transform the host municipality of Aroroy in Masbate from a fourth-class municipality into a first-class municipality, supporting investments in public infrastructure, educational assistance, and scholarship and skills training programs.
In a social media post following the meeting, Marcos said the Masbate Gold Project has already generated billions of pesos in taxes that have improved infrastructure, expanded educational opportunities, and strengthened local livelihoods.
He said the government would continue pursuing investments that place Filipino communities at the center of resource development.
The Canada partnership and the new investment commitments underscore the Marcos administration's strategy of positioning the Philippines as a reliable supplier of critical minerals while promoting responsible mining practices, stronger environmental governance, and sustainable investments to support the global energy transition.
