Oceana Gold Philippines Inc. (OGPI) has made a significant contribution to local development by remitting Php 48.5 million to the provincial government of Nueva Vizcaya as part of the Provincial Development Fund (PDF) for the year 2025. The cheque was personally handed over by Ms. Desiree D. Baldevino, External Affairs and Social Performance Manager of OGPI, to Governor Atty. Jose V. Gambito, and was subsequently remitted to the Provincial Treasury Office.
This remittance is part of the broader Financial Technical Assistance Agreement (FTAA) that OceanaGold maintains with the government. Under this agreement, the company is obligated to remit various funds, including the Social Development and Management Program Fund and the Community Development Fund, which are instrumental in supporting development initiatives in the provinces of Nueva Vizcaya and Quirino, where OceanaGold operates.
Governor Gambito expressed his gratitude for the timely remittance, noting how important these funds are for local development projects. He stated that the money will support his key programs, especially the “Free Wifi Ti Umili” initiative, which will be expanded to include public elementary and secondary schools. This expansion aims to improve internet access and provide better learning opportunities for students throughout the province.
In addition to the PDF, Ms. Baldevino announced that OGPI has also allocated a total of Php 69 million for the 2025 Community Development Fund, with ongoing implementation benefiting 23 barangays outside the municipality of Kasibu, each receiving Php 3 million. This significant investment underscores OceanaGold’s commitment to enhancing the welfare of local communities and promoting sustainable development.
According to Provincial Treasurer Rhoda S. Moreno, since the resumption of OGPI’s mining operations in Barangay Didipio in 2021, the provincial government has already received a total of Php 151 million in PDF. This substantial amount reflects the ongoing partnership between OceanaGold and the provincial government, aimed at supporting community development and infrastructure projects.
The allocation of the Provincial Development Fund is determined by a calculation outlined in the FTAA, ensuring that the provincial government receives its fair share of net revenue after accounting for taxes and fees. This fiscal regime not only guarantees transparency but also reinforces the commitment of OceanaGold to contribute to the socio-economic development of the areas affected by its operations.The Provincial Development Fund aims to provide long-term benefits for local communities, promoting sustainable development and enhancing the quality of life for residents in Nueva Vizcaya and Quirino. /RMI
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