OCEANAGOLD (Philippines) Inc. (OGP) said it remitted P466.86 million in additional government share (AGS) for fiscal year 2024, in compliance with its financial or technical assistance agreement (FTAA).
The latest payment brings OGP’s total AGS remittance over the past two years to nearly P1.6 billion, said company president and general manager for external affairs and social performance Joan Catiling.
“We are proud to continue contributing to the Philippine Government and supporting nation-building with our mining operations. This significant contribution reflects the substantial economic benefits that responsible mining can bring,” she said.
The second AGS payment was remitted to the Department of Environment and Natural Resources (DENR) and the Mines and Geosciences Bureau (MGB) during a turnover ceremony on April 30, 2025, at the MGB Central Office.
“OceanaGold’s substantial contribution to the national treasury highlights how responsible mining drives nation-building and enables Filipinos to benefit from the country’s mineral wealth. We thank OGP for its consistent compliance and dedication to responsible operations,” said MGB director Michael Cabalda.
The 2024 AGS remittance is in addition to P870 million in excise taxes and P512 million in local taxes and fees paid by the company in the same year.
Under its FTAA, the Philippine government receives 60 percent of the net revenue from the Didipio gold-copper mine in Luzon, with OGP entitled to 40 percent.
Taxes and fees paid are deducted from the government’s share to compute the AGS.
The company allocated P220 million under its Social Development and Management Program (SDMP) to fund education, healthcare, livelihoods, and infrastructure in host and neighboring barangays in 2024.
Additional investments included P203 million through the Community Development Fund and P102 million via the Provincial Development Fund in Nueva Vizcaya and Quirino.
