Junior Mining Weekly

Oceanagold Corp. says that reports stating the company has halted operation are untrue and the Didipio mine continues to operate.

The company lodged its application for renewal of its financial or technical assistance agreement with the Philippine government in March, 2018. The company received confirmation on June 20, 2019, from the regulatory authority, the Mines and Geosciences Bureau, 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 per cent are Philippine nationals including over 50 per cent from the local communities and several thousand additional livelihood opportunities/indirect jobs through partnerships with co-operatives and social development organizations.

About Oceanagold Corp.

Oceanagold is a mid-tier, high-margin, multinational gold producer with assets located in the Philippines, New Zealand and the United States. The company’s assets encompass the Didipio gold-copper mine located on the island of Luzon in the Philippines. On the North Island of New Zealand, the company operates the high-grade Waihi gold mine while on the South Island of New Zealand, the company operates the largest gold mine in the country at the Macraes goldfield which is made up of a series of open-pit mines and the Frasers underground mine. In the U.S., the company operates the Haile gold mine, a top-tier, long-life, high-margin asset located in South Carolina.