OceanaGold Allocates P768 Million for Didipio Mine Rehabilitation

MANILA, Philippines — Australian-Canadian mining firm OceanaGold Philippines Inc. (OGPI) has allocated more than P700 million for the rehabilitation of its Didipio mine in Nueva Vizcaya. In a statement yesterday, the company said it has earmarked P768.43 million under its Final Mine Rehabilitation and Decommissioning Plan (FMRDP), with about P551.4 million already deposited in a trust fund. OGPI added that the fund would continue to grow in accordance with its required annual provisioning schedule. “As our operations continue in the years to come, we are already investing in rehabilitation and closure planning to help ensure positive and sustainable outcomes for the environment and our host communities well into the future,” OGPI president Joan Adaci-Cattiling said. The Didipio mine currently operates within 340-hectare out of the 975-hectare approved mining permit area under its Financial or Technical Assistance Agreement. The company noted that about 100 hectares will be undergoing progressive rehabilitation during operations, while more than 55 hectares have already been rehabilitated as of last year. It added that the remaining area will be rehabilitated in phases, while about 221 hectares will undergo final rehabilitation by the end of the mine’s operating life in 2037. About 58 hectares, composed of the open pit and other mine cap facilities will be used for post-mining community use rather than revegetation. The company said that the proposal will undergo technical assessment to ensure that they are safe and suitable for the specific area. Its FMRDP is reviewed and updated every two years to reflect the company’s rehabilitation progress, mining plan updates, new technical information, inputs from stakeholders and other government requirements.