Oceanagold provides update on Philippines operations
OceanaGold Corporation wishes to inform that reports stating the Company has halted operation is untrue and the Didipio Mine continues to operate. The Company lodged its application for renewal of its Financial or Technical Assistance Agreement (“FTAA”) with the Philippine Government in March 2018.
The Company received confirmation on June 20, 2019 from the regulatory authority, the Mines and Geosciences Bureau (“MGB”) that the Didipio operation is permitted to continue operations pending the confirmation of the FTAA renewal by the Government. The Company is committed to operating in accordance with the law and will always comply with its responsibilities under its contract with the Philippine government.
The Didipio mine has delivered significant socio-economic benefits to the Barangay of Didipio, neighbouring communities, the provinces of Nueva Vizcaya and Quirino and the Philippines. It directly employs 1,500 workers of which approximately 95% are Philippine nationals including over 50% from the local communities and several thousand additional livelihood opportunities/indirect jobs through partnerships with cooperatives and social development organisations.