This indicates its financial strength and commitment to shareholder returns, and OceanaGold declared a $25 million dividend for the quarter $0.0110 per share, or approximately ₱0.624/share), bringing total dividends since its May 2024 IPO to $111 million.

For her part, Atty. Joan Adaci-Cattiling, President of OceanaGold Philippines, emphasized that the results highlight both operational excellence and the Company’s contribution to national development.

“We are delivering strong results while operating safely and responsibly. Beyond generating Free Cash Flow and shareholder returns, we are proud that 34% of our second quarter gold doré production was sold to the Bangko Sentral ng Pilipinas, directly supporting the country’s international reserves.”

Gold production in Q2 was 19% higher than the previous quarter, driven by improved underground ore grades and expanded mine access. OceanaGold remains on track to meet its 2025 production guidance of 85,000–105,000 ounces of gold and 13,000–15,000 tonnes of copper.

The company continues to build on its reputation as a trusted partner in the Philippine mining industry, by balancing operational growth with its responsibility to shareholders, local communities, and the national economy.

Listed company OceanaGold (Philippines), Inc. (OGP) and Bangko Sentral ng Pilipinas (BSP) have renewed their gold buying agreement for another three years.

“We continue to support the Philippine economy by prioritizing BSP and their gross international reserves through this renewed agreement. This demonstrates our steadfast and continued commitment as a partner for economic development and sustaining overall growth amid global uncertainties,” Atty. Joan Adaci-Cattiling, OGP President and General Manager for External Affairs and Social Performance, said.

Under the renewed agreement, which will run from March 2025 to March 2028, OGP will continue to offer for purchase not less than 25% of its annual gold doré production to the BSP. Doré is an alloy or solid mixture of gold and other metals like silver. The initial agreement between OGP and BSP was executed in May 2022.

“Beyond compliance with our Financial or Technical Assistance Agreement (FTAA) with the Philippine Government, we view this agreement as part of our purpose of mining gold for a better future,” Atty. Adaci-Cattiling said.

In 2024, OGP sold a total of 6,628 ounces of gold doré or 29% of its gold doré production to the BSP, of which 5,356 ounces were sold under the BSP’s gold buying guidelines after the expiration of the purchase agreement in May 2024.

OGP sold 9,453 and 12,865 ounces of gold doré to the BSP in 2022 and 2023, respectively, representing 28% and 27% of its total gold doré production for the respective year.

OGP remitted an LBT of PHP198.9M to Kasibu town in Nueva Vizcaya, and paid ₱119.3M and ₱79.6M to the municipalities of Nagtipunan and Cabarroguis in Quirino, respectively. 

This year, Kasibu and Cabarroguis joined Nagtipunan as first-class municipalities based on their respective average annual incomes for the last three years. First class municipalities are those earning an average of ₱200 million or more annually, based on Republic Act number 11964 or the Automatic Income Classification of Local Government Units Act.

Atty. Joan Adaci-Cattiling, OGP President and General Manager of External Affairs and Social Performance, expressed her appreciation to the officials for their support of the Company’s Didipio Mine. 

“We are all working for the continuing operations of the mine so that we are able to continue giving benefits to our communities, agyaman kami (thank you),” she said.

Peter Sharpe, OGP Chairman of the Board, said that the Company is sharing its success with local communities through its taxes and other benefits.

“We are a part of the community and it is pleasing to share our success with the broader community. This is a partnership, a relationship…this is an example where we are giving back as much as we can,” he said. 

OGP paid a total LBT of ₱421.9M and ₱326.2M to the three municipalities in 2024 and 2023, respectively.  

Kasibu Mayor Romeo Tayaban acknowledged the impact of OGP’s tax contributions on local development.

“We, the people of Kasibu, are grateful for OceanaGold’s tax payments, which have significantly helped improve the lives of our residents. Our local government is focused on enhancing infrastructure, particularly road networks, to facilitate economic activities in various barangays,” he stated in Ilocano.

Similarly, Cabarroguis Vice Mayor Francisco Dulnuan, Jr., speaking on behalf of Mayor Avelino Agustin, Jr., emphasized the importance of OGP’s continued operations.

“We hope that the mine continues its operations, as it enables us to extend further support to our constituents,” he remarked in Ilocano.

Nagtipunan Mayor Noel Lim noted that the municipality successfully completed its public market and funded various social and environmental projects through the 2024 LBT payment from OGP.

“The local business tax payments from Didipio Mine have been a tremendous help to every municipality,” he said.

The municipalities also pledged, through their respective memorandum of agreement (MOA) with OGP, to allocate no less than PHP5 million from their own LBT share to fund projects

Undeniably, the Filipinos’ rich, colorful and diverse fashion heritage is only appreciated during cultural shows as modern fashion and designer’s clothes become the trend and choice of people, especially those living in the bustling cities across the Philippines.

But there are still advocates who promote Filipino indigenous creativity and unparalleled passion in their creations amid the decline of appreciation of our uniquely own local textiles and couture and most of them are showcased outside the Philippines such as beauty pageants and designed by our talented couturier in collaboration with other indigenous textile weavers in the country.

While our streets and public places are overwhelmed with fast fashion – low-priced stylish clothing based on current trends bought from retail stores. But with the emergence of the nostalgia trend in today’s generation, people are now embracing back slow fashion as consumers value sustainability and quality.

With the rise of slow fashion, traditional loom weavers can take advantage of changing consumer behavior.

Traditional loom-weaving methods, practiced for centuries by indigenous peoples (IPs), is a sustainable approach to fashion as it opts to use locally sourced materials. Made with utmost care and precision, woven pieces reflect the hard work of its weaver.

With close to 17 million indigenous peoples in the Philippines, we are rich with cultural expressions. But the United Nations Office for Project Services also point out that they are among the most disadvantage peoples. Protecting indigenous culture and promoting the handloom weaving industry need public, private, and civil society interventions.

In Barangay Capisaan in the upland town of Kasibu in Nueva Vizcaya, Alayan Pag-asa Abot-Palad Association of Women are trying to keep their Ifugao-Twali culture alive through weaving. They are among the pilot beneficiaries of the Loom Weaving Industry program of the Department of Trade Industry – Nueva Vizcaya (Region 2) in 2014.

Among the women weavers’ association’s products is the famous Ifugao shawl crafted in a chain rib weave with embroidered seams. These shawls are worn in various ways including as a skirt or as a scarf.

If you prefer a full attire, the Twali-Ifugao weavers also make skirts paying homage to ancestral woven patterns.

To increase their economic viability, Barangay Capisaan, Municipality of Kasibu, the Didipio Mine of OceanaGold (Philippines), Inc and DTI Region 2 have forged the Mun-Abol (Maximizing Network and Unveiling Natural Talents through Acceleration of Business Opportunities and Livelihood) Project to strengthen the industry through upskilling, training and capital equipment financed through the Didipio Mine’s IP Culture Revitalization Program. The project’s name, “Mun-Abol” is an Ifugao term meaning “to weave.”

With an established front store named Mun-Abol Capisaan Weaving, the project supports 16 women weavers, most of whom are mothers, with an additional source of income.

Barangay Capisaan is among the 11 communities supported by the Didipio Mine’s social development and management program.

“The Mun-Abol Project is more than just a social enterprise; it’s a vibrant tapestry of culture, creativity, and community empowerment. Rooted in the rich traditions of Indigenous People, this project weaves together threads of heritage and innovation to support the orange economy and revitalize creative culture,” Vincent Flores, Didipio Mine Community Development Supervisor, said. Apart from its contribution in the Mun-Abol Project, OceanaGold (Philippines), Inc. also established a scholarship program for college students from various indigenous communities in Nueva Vizcaya and Quirino, and sponsors community trainings of indigenous dances for the youth keeping the culture alive.

“This project increases our livelihood sources while transferring our knowledge of weaving to the next generation,” Capisaan Barangay Captain Patrick Batulon said.

So, if you ever come visit Nueva Vizcaya, be sure to visit Mun-Abol Capisaan Weaving’s shop in Kasibu or you can just send them a message on Facebook

The mine, straddling the provinces of Nueva Vizcaya and Quirino, produced a total of approximately 138,500 ounces (oz) of gold, higher than the approximately 113,200 oz produced in 2022.

Meanwhile, copper production decreased only by 1% from approximately 14,400 metric tons (mt) in 2022 to approximately 14,200 mt in 2023.

“We are glad to have exceeded the top end of our 2023 production guidance ranging from 125,000 to 135,000 oz of gold and 12,000 to 14,000 mt of copper. Our performance signifies not only the mine’s productivity but also the talent, dedication, and hard work of our employees,” Atty. Joan Adaci-Cattiling, Didipio Mine president and external affairs and social performance general manager said.

The increase in gold production has been partly due to higher-grade breccia stopes being mined in the fourth quarter, which was facilitated by the crown pillar strengthening project’s completion. The project strengthened the bottom of the Mine’s ground surface directly above the underground mine, allowing for safer underground mining activities.

With production complemented by strong gold sales and a 9% increase in average gold prices per ounce from US$1,811 to US$1,974 and a 1% increase in copper prices per pound from US$3.82 to US$3.87 in the period of 2022 to 2023, the Didipio Mine has also increased the amount of production taxes paid to the Philippine government from US$15.2 million (PhP 836 million) in 2022 to US$26.3 million (PhP 1.46 billion). Furthermore, the Didipio Mine is also set to remit an additional government share of US$20.3 million (PhP 1.1 billion) pursuant to its Financial or Technical Assistance Agreement that entitles the Philippine government to 60% of the net revenue (less costs, taxes, duties, fees and other expenses paid or accrued by OceanaGold (Philippines), Inc.).

For 2024, the Didipio Mine aims to produce around 120,000 to 135,000 oz of gold and 12,000 to 14,000 mt of copper.

Atty. Joan Adaci-Cattiling, Didipio Mine President and General Manager for External Affairs and Social Performance, said that the award is a testament to the company’s commitment to having not only a safe working environment for its workers, but also protecting communities and the environment.

“This award is a validation of our responsible mining operations, that we ensure that our workers work and go home to their families safe and sound every day; while making sure that our host and neighboring communities, as well as the environment, are protected,” Atty. Adaci-Cattiling added.

The Didipo Mine implements technologies such as remote and semi-auto bogging that ensure not only productivity but more importantly, eliminates the exposure of underground operators to open stopes. Other safety features inside the Didipio Mine include self-rescuers, refuge chambers, escapeways, and tracking of personnel.

David Bickerton, Didipio Mine GM for Operations, added that the award is a collective effort of all mine employees and contractors.

“Part of our values is care, and we try to demonstrate this trait every day. We look out for each other, and we continuously encourage everyone to call out unsafe acts and behavior no matter who the person is, and then learn and apply the lessons that the situation gives,” Mr. Bickerton said.

“Part of our responsible mining operations is continuous improvement, and this award only motivates us more to sustain and even surpass the high standard we have achieved,” Atty. Adaci-Cattiling added.

Meanwhile, Charles Pangalina, one of Didipio Mine’s production drillers, was also named the Best Miner – Underground.

“Mr. Pangalina is an inspiration and example to us all. Safety starts with each one of us, and combine that with our operational systems, then we can achieve the right safety mindset,” Mr. Bickerton said.

The ANMSEC is an annual gathering dedicated to the country’s mining industry. It is organized by the Philippine Mine Safety and Environment Association (PMSEA) together with the Department of Environment and Natural Resources – Mines and Geosciences Bureau (DENR-MGB).