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PH renews OceanaGold FTAA, to list in PSE


Published July 15, 2021, 8:50 AM
Two years after its Financial or Technical Assistance Agreement (FTAA) with the Philippine government expired, Australian-Canadian miner OceanaGold Corporation (OceanaGold) is now allowed to resume the operations of its gold-copper mining project in the country until 2044.
This is on condition that, among others, the company will sell a portion of its Philippine operating subsidiary, OceanaGold Philippines Inc. (OGPI), to the public within the next three years.
In a statement, OceanaGold advised its stakeholders that the Philippine government has already renewed its FTAA for the Didipio gold-copper mining project in Nueva Vizcaya for an additional 25-year period, beginning June 19, 2019. ....

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Gov't finalizes FTAA renewal for Oceanagold – Manila Bulletin


MGB Director Wilfredo Moncano (Photo credit: https://region1.mgb.gov.ph/)
Mines and Geosciences Bureau (MGB) Director Wilfredo Moncano told Business Bulletin that discussions on this matter already concluded and that the new FTAA now awaits the signature of Environment Secretary Roy Cimatu.
After that, the FTAA will be forwarded to the Office of the President (OP) for President Rodrigo Duterte’s signature.
FTAA is a contract that allows a foreign-owned mining firm to operate in the Philippines as well as explore and utilize the country’s mineral resources.
The deal also gives the government a pre-determined share in the mining project. ....

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Gov't finalizing terms for OceanaGold's FTAA renewal – Manila Bulletin


Published February 3, 2021, 11:41 AM
Australian-Canadian miner OceanaGold Corporation (OceanaGold) and the Philippine government are now finalizing the terms of their updated Financial and Technical Assistance Agreement (FTAA) for the resumption of the operations of the Didipio gold and copper mine in Nueva Vizcaya.
In a regulatory filing with the Toronto Stock Exchange and Australian Securities Exchange, OceanaGold disclosed that it had multiple meetings with Philippine government officials in December to finalize the terms of the FTAA renewal.
It also said the renewal is expected to be endorsed to the Office of the President for approval.
“The Company will continue to engage with government officials and will work with stakeholders for a safe restart of operations at Didipio,” OceanaGold said. ....

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