Canadian Mining firm B2Gold plans to expand operations in PHL — DTI
By Justine Irish D. Tabile | Business World | 13 December 2024 12:02AM
B2GOLD.COM
CANADIAN gold mining company B2Gold Corp. plans to expand its operations in the Philippines, according to the Trade department.
In a statement, the Department of Trade and Industry (DTI) said that it met with officials of B2Gold and its local partner, Filminera Resources Corp., to discuss B2Gold’s plans to expand in the Philippines and its project in Aroroy, Masbate.
“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,” said DTI Secretary Ma. Cristina A. Roque.
“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.
The company is currently operating a gold mine in Masbate, which is about to reach its end of life. The company acquired its stake in the Masbate mine through a merger with CGA Mining Ltd. back in 2013.
“In mining, for you to determine if you can continue mining and expand or look for additional sites to mine, you need to have extensive research and analysis,” said Mario C. Tani, commercial counselor and trade commissioner at the Philippine Consulate General of Toronto, Canada, in a Viber message on Thursday.
“Usually, this entails a lot of hiring of local geologists and spending,” he added.
According to the Trade department, the opening of the company’s exploration office was formally announced during the Team Canada Trade Mission last week.
B2Gold has cited the country’s strategic location and skilled workers as among the reasons for the company’s success in the Philippines, as well as six consecutive years of operation without workplace injuries or accidents.
“B2Gold has invested in expanding skills and livelihood training programs for local residents while providing employment to nearly 2,000 direct and contract workers,” the DTI said.
“These efforts have contributed to Aroroy’s development from a fourth-class to a first-class municipality,” it added.
Source: Business World
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