THE Department of Trade and Industry (DTI) announced Canadian gold mining company B2Gold Corp. will expand its operations in the Philippines as part of its future exploration plans.
The DTI did not disclose the specific plans but B2Gold holds interest in the Masbate Gold Project (MGP) through indirectly owned subsidiaries.
The DTI said the mine site is about to reach its end of life and would need extensive research and analysis to support its plans to expand and look for additional sites
B2Gold representatives in a courtesy visit to Trade Secretary Cristina Roque cited the Philippines’ vital role in the company’s success due to its strategic location, logistical advantages, and skilled workers, which enabled the mine to achieve six consecutive years of operation without workplace injuries or accidents.
The DTI said company executives disclosed plans to open its exploration office in 2025 at the Team Canada Trade Mission held December 3.
The DTI said since beginning operation in 2013, B2Gold has consistently demonstrated its practice to responsible and sustainable mining at its main project site in Aroroy, Masbate.
The DTI said B2Gold has invested in expanding skills and livelihood training programs for local residents while providing employment to nearly 2,000 direct and contract workers. These efforts have contributed to Aroroy’s development from a fourth-class to a first-class municipality.
The company also highlighted its environmental stewardship through initiatives such as mangrove reforestation, ocean rehabilitation via reef restoration, the establishment of nurseries for endangered plant species, and the cultivation of fruit-bearing trees.
B2Gold has a 40 percent interest in Filminera Resources Corp. nand a 100 percent interest in Philippine Gold Processing & Refining Corp.
B2Gold acquired its interest in Masbate through its acquisition of CGA Mining Limited in January 2013.
In its website, B2Gold said the Masbate Mine is expected to produce between 175,000 and 195,000 ounces of gold in 2024.
For 2024, Masbate is expected to process 7.9 million tons of ore at an average grade of 0.93 g/t with a process gold recovery of 76 percent. Mill feed will be a blend of mined fresh ore and low-grade ore stockpiles.
