OceanaGold delineates about the contribution of PHP40B to the local economy

OceanaGold

Didipio, Nueva Vizcaya – OceanaGold Philippines, Inc. (OGPI) recently published information on its contributions to the local economy from its years of commercial manufacturing.

The firm has provided the region with a total of P39.5 billion in the form of taxes, jobs, agricultural and social development assistance. It has remitted nearly 780-million pesos from a combination of 580-million in local business and 210-million in real estate taxes for Nueva Vizcaya and Quirino.

The numerous programs they have introduced in the region are oriented towards building their people’s capacity and empowering them so that even after they work in the area, the host and adjacent communities will continue to flourish economically. They added that the primary focus is sustainable and inclusive growth with the aim of leaving a long-lasting beneficial heritage to their community.

OGPI has educated and recruited a number of community members in human development alone, employing 1,500 employees and contractors, and spending 2.5 billion PhP on worker salaries.

In addition to the employment expenditure, OGPI spent roughly P170 million in employee, community and pre-employment training ; supplied 2,000 extra livelihood possibilities through partnerships with cooperatives and social development organisations ; and permitted on – the-job training (OJT) placements at the Didipio Mine.

OGPI also has partnerships with Nueva Vizcaya State University (NVSU), Quirino State University (QSU), Isabela State University (ISU), Saint Mary’s University (SMU), Saint Louis University (SLU), Ifugao State University (IFSU) and Philippine University (UP) to provide 246 scholarships in the provinces of Nueva Vizcaya and Quirino.

The Mines and Geosciences Bureau’s latest publicly accessible information reveals that the mining sector has contributed approximately 26 billion in a quarter alone. The mining industry’s production value is computed at PhP 109.5 billion with a growth of about 5.3 percent, proving there is more that can be gained in the industry, for operators and host communities alike.

OGPI is committed to the greatest mining values as it develops with its partner group.

 

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