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Manila Bulletin devider Business devider Trade & Industry devider OceanaGold hikes Didipio mine's community dev't fund

OceanaGold hikes Didipio mine's community dev't fund

Published Feb 5, 2024 07:32 am

Didipio Gold-Copper Mine, owned by OceanaGold Corporation’s local subsidiary OceanaGold Philippines Inc., is increasing its Community Development Fund (CDF) budget to P169 million this year.

In a press statement, the firm said this is a 24 percent increase from their 2023 allocation of P136 million and will benefit 52 barangays in the provinces of Nueva Vizcaya and Quirino.

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“We have expanded the CDF coverage to 52 barangays in 2024 from 44 last year. This is proof of our commitment of mining gold for a better future for our communities in Nueva Vizcaya and Quirino,” Didipio Mine President and External Affairs and Social Performance General Manager Atty. Joan Adaci-Cattiling.

Didipio Mine’s CDF proceeds now includes the municipalities of Bambang, Bayombong, Solano, Dupax Del Sur, Bagabag and Diadi in Nueva Vizcaya, and Saguday and Nagtipunan in Quirino, in addition to their original beneficiaries in Kasibu and Dupax del Norte in Nueva Vizcaya and Aglipay, Cabarroguis, Diffun and Maddela in Quirino.

“We are grateful that the Didipio Mine has included us in their initiatives, even though we are not directly within the SDMP barangays. We eagerly look forward to exploring more partnership opportunities with the Didipio Mine,” Municipality of Solano Sangguniang Bayan Member Regie Valino-Valdez said.

To determine the projects for CDF implementation, the Didipio Mine is hosting a series of Technical Working Group (TWG) meetings with stakeholders.

The TWG is chaired by the Mining and Geosciences Bureau (MGB) Region 2. Among its members are representatives from the Commission on Human Rights, National Commission on Indigenous Peoples (NCIP), and representatives from the different municipalities.

“These consultations with the communities under the guidance of the MGB, CHR, and the NCIP ensure that we are on the right track by listening to the proposals of our beneficiaries, allowing us to provide the appropriate multi-sectoral support to our communities,” Adaci-Cattiling added.

Last year, the P136 million-CDF was utilized for the construction of multipurpose buildings, concrete and all-season farm-to-market roads, village roads, health centers, canals and flood river control systems, water systems, school buildings and facilities, hanging bridges and the CDF-Indigenous peoples scholarship program, among others.

The CDF was first implemented in 2022 and is considered as a “one of a kind” component of the Didipio Mine’s Financial or Technical Assistance Addendum and Renewal Agreement.

Aside from the CDF, Didipio Mine also provides the following funding under its FTAA: Social Development and Management Program Fund, the Provincial Development Fund, and its Corporate Social Responsibility initiatives.

The SDMP is sourced from 1.5 percent of the Mine’s Annual Operating Cost, while the CDF and PDF account for 1.5 percent of its gross mining revenues from the preceding calendar year.

Related Tags

OceanaGold Philippines Inc. (OGPI) OceanaGold Corporation Didipio Mine
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