Canadian mining firm B2Gold Corporation is expanding its operations in the Philippines due to its confidence in the country's robust policies and skilled workforce, the Department of Trade and Industry (DTI) stated.
In a statement on Thursday, Dec. 12, the DTI noted that Trade Secretary Cristina A. Roque and B2Gold representatives recently met to discuss the mining firm's expansion plans in the country.
Roque held a meeting with B2Gold Vice President Neil Reeder, Senior Vice President of Engineering and Project Evaluations Dennis Stansbury, Australia-Asia Exploration Manager Tony Field, and Filminera Resources Corporation President Cris Acosta.
According to the DTI, B2Gold’s plans include establishing B2Gold Philippines Exploration Corporation, which was incorporated earlier this year.
"B2Gold’s decision to expand its operations here reflects the confidence that global investors have in the robust policies, strategic reforms, and highly skilled workforce championed under the leadership of President Ferdinand R. Marcos Jr.," Roque said.
"We warmly welcome this development as it highlights the Philippines’ commitment to building partnerships that promote sustainable economic growth and inclusive regional development,” she added.
B2Gold's commitment to the Philippines stems from its successful mining project in Aroroy, Masbate, which began in 2013.
The company has prioritized responsible and sustainable mining practices, including mangrove reforestation, ocean rehabilitation, and the cultivation of endangered plant species. These efforts have contributed to significant environmental improvements in the region.
In addition to environmental stewardship, B2Gold has invested in skills and livelihood training programs for local residents and currently employs nearly 2,000 workers.
"B2Gold representatives also underscored the Philippines’ vital role in the company’s success due to its strategic location, logistical advantages, and skilled workers, which enabled the mine to achieve six consecutive years of operation without workplace injuries or accidents," the DTI statement noted.
The company's investment has contributed to Aroroy's economic development, elevating it from a fourth-class to a first-class municipality.
Secretary Roque expressed her support for B2Gold's expansion and informed the company representatives about the administration's efforts to attract foreign investment.
She highlighted initiatives such as fiscal and non-fiscal incentives under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, the Board of Investment’s (BOI) Green Lanes, and targeted campaigns by Investment Promotion Agencies.