Canadian gold producer B2Gold has expressed intention to expand its mining operations here in the Philippines, the Department of Finance (DOF) said yesterday.
In a Facebook post, the DOF said the economic team jumpstarted its investor roadshow engagements in Toronto, with B2Gold, an international senior gold producer headquartered in Vancouver.
B2Gold currently has an operating gold mine in Masbate, Philippines through its acquisition of CGA Mining Ltd in 2013.
According to the DOF, B2Gold’s vice president for government relations Neil Reeder, previously Canada’s ambassador to the Philippines, shared the company’s success in Masbate, citing their well-educated Filipino workforce, excellent relations with the Philippine government, sustainable mining efforts and positive economic impact in the mine site.
Finance secretary Benjamin Diokno for his part discussed the mining industry’s huge potential to contribute to the global supply chain, as the Philippines is one of the world’s largest repositories of nickel, copper, gold, chromium and iron.
According to B2Gold’s website, the Masbate Mine is expected to produce between 170,000 and 190,000 ounces of gold this year.
