Canadian miner pours fresh ₱850M into PH expansion, extends Masbate Gold Project

The investment is seen to protect 2,000 jobs, create up to 2,000 more, fund exploration in Mindanao, and double the Masbate mine’s solar capacity.

Canadian mining firm B2Gold Corporation is pouring another ₱850 million into its Philippine operations, a move expected to protect 2,000 existing jobs, create up to 2,000 more, and keep one of the country’s biggest gold mines running longer.

The Department of Trade and Industry (DTI) said the fresh investment will support the expansion of the Masbate Gold Project while giving a boost to communities that rely on the mining industry for jobs, local business, and economic activity.

The project is also expected to extend the mine’s operating life, allowing it to continue producing roughly 200,000 ounces of gold annually while supporting suppliers and helping sustain mineral exports.

The investment package includes ₱400 million for mineral exploration in Mindanao, including Surigao, and ₱450 million to double the Masbate mine’s solar facility from 10 to 20 megawatts with battery storage. The renewable energy expansion is expected to reduce reliance on conventional power while helping lower operating costs over time.

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