• Philippine Resources

OceanaGold reports around PHP40B contribution to local economy

Didipio, Nueva Vizcaya–OceanaGold Philippines, Inc. (OGPI) recently released data on its local economy contributions from its years of commercial production. 

The company has given a total of P39.5-billion in the form of taxes, employment, agricultural and social development support to the region. For Nueva Vizcaya and Quirino, it has remitted close to 780-million pesos from a combination of 580-million in local business and 210-million in real property taxes.

Didipio– a  barangay of about 4,000 people, which has hosted OGPI’s mining operation –is the primary recipient of the company’s tax remittances. 

 “The various programs that we have implemented in the region are geared towards building the capability of our people and empowering them so that even after we operate in the area, the host and neighboring communities will continue to thrive economically. Our main focus is sustainable and inclusive development, aiming to leave a long-lasting positive legacy for our communities,” David Way, OGPI’s General Manager, says.

In human development alone, OGPI has trained and hired a number of community members, employing 1,500 staff and contractors, and spending PhP 2.5 billion for employee wages. 

Apart from the employment spend, OGPI has invested approximately P170 million on employees, community and pre-employment training; provided 2,000 additional livelihood opportunities through partnerships with cooperatives and social development organizations; and allowed for On-the-Job-Training (OJT) placements at the Didipio Mine. OGPI also has partnerships with the Nueva Vizcaya State University (NVSU), Quirino State University (QSU), Isabela State University (ISU), Saint Mary’s University (SMU), Saint Louis University (SLU), Ifugao State University (IFSU) and University of the Philippines (UP) to provide 246 scholarships in the provinces of Nueva Vizcaya and Quirino.

Read more: https://business.inquirer.net/274836/oceanagold-reports-around-php40b-contribution-to-local-economy#ixzz5tzK2GEs9


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