OceanaGold remits P1.1B additional share to government

By Leander C. Domingo

Apr 23, 2024 9:11 pm

The Mines and Geosciences Bureau of the Department of Environment and Natural Resources has received P1.1 billion from OceanaGold Philippines, Inc. (OGPI) as its payment for additional government share, maintaining the government's 60% stake in the mining firm's net revenue.

OGPI remitted $20.3 million (P1.1 billion) to the Philippine government for the first time, pursuant to the terms of its Financial or Technical Assistance Agreement (FTAA) on April 23, 2024.

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