The government FTAA working team reengaged on the renewal process. To this end, OceanaGold intends to follow the usual appeal process with the Court of Appeals, and if necessary, to the Supreme Court of the Philippines. 9 days ago Recommended

New user? For me, I will support this, but of course, we don’t know the position of the secretary on this matter,” Moncano said.“The process with NCIP is a long one and might take two years. The Philippines’ Mines and Geosciences Bureau, the industry watchdog, and the Department of Environment and Natural Resources had endorsed OceanaGold’s application for FTAA renewal … Hopefully, we can issue the interim renewal within the year,” he added.MGB  recommended the interim renewal amid issues with funding agencies and market movements. By

They are pushing for more development related to ecotourism and agriculture sector.Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. If the denial of the injunction is in fact accurate, the Company will continue to defend its right to operate the Didipio Mine in the interim whilst it completes the FTAA renewal process. In what seems like a desperate attempt to resume operations, Australian-Canadian miner Oceana Gold Philippines, Inc. (OceanaGold) has re-endorsed its application at the Office of the President (OP) for the renewal of its Financial or Technical Assistance Agreement (FTAA). OCEANAGOLD ANNOUNCES RECEIPT OF ITS FTAA EXPLORATION PERMIT RENEWAL AND UPDATED RESOURCES AND RESERVES (All financial figures in US Dollars unless otherwise stated) (MELBOURNE) OceanaGold Corporation (TSX/ASX/NZX: OGC) (the “Company”) is pleased to announce 9 days ago 9 days ago

In July, OceanaGold said its application for FTAA renewal is what matters most for the company right now, following the decision of the Court of Appeals to dismiss its petition to reverse the Nueva Vizcaya Regional Trial Court’s (RTC) decision stopping its mining operations.In the first half of the year, OceanaGold generated $234.0 million in revenue, a decrease from the prior year period mainly due to limited sales from Didipio and reduced sales from its mining operations in Waihi, New Zealand.To recall, OceanaGold is a mid-tier, high-margin, multinational gold producer with assets located in the Philippines, New Zealand and the United States. By continuing to browse the site, you are agreeing to our use of cookies. Big enough By To this end, OceanaGold intends to follow the usual appeal process with the Court of Appeals, and if necessary, to the Supreme Court of the Philippines . With your meaningful insights, help shape the stories that can shape the country. 9 days ago MANILA, Philippines — The Mines and Geosciences Bureau is recommending the interim renewal of OceanaGold’s financial and technical assistance agreement (FTAA). United States Secretary of State Mike Pompeo has discussed with Foreign Affairs Secretary Teodoro Locsin Jr. his country’s latest policy on maritime claims in the South China Sea, which supports sovereign rights of coastal states as well as rules-based order in contested waters. [2340862,2347093,2346567,2346653,2346671,2346575,2346596]Australian miner re-endorses application for FTAA renewal to OP

8 days ago MGB OKs interim renewal of OceanaGold FTAA

The firm’s first half earnings before interest, taxes, depreciation, and amortization (EBITDA) also decreased by 59 percent to $54.8 million year-on-year, also reflecting limited sales from Didipio and lower production from New Zealand partly offset by steady production from Haile at improved cash costs.During this period, the company produced 139,385 ounces of gold, including 58,678 ounces of gold in the second quarter.This was 45 percent lower than the same period in 2019 primarily due to the temporary suspension of operations at Didipio.Nevertheless, the company said it “has maintained Didipio in a state of operational readiness for rapid re-start on the expectation that a resumption of normal operations could be achieved” this year. This is to support the renewal of OceanaGold's Financial and/or Technical Assistance Agreement (FTAA) contract and continue the benefits delivered to the communities wherein it operates. MELBOURNE , July 12, 2020 /CNW/ - OceanaGold Corporation (OGC.TO) (OGC.AX) (the "Company") wishes to provide an update on the status of legal proceedings in the Philippines . OceanaGold, which operates in Nueva Vizcaya, is listed at the Toronto Stock Exchange.“That [interim renewal] is an assurance on the part of funding agencies and bankers  that for the next 25 years, their operations can be stable,” Moncano said.Meanwhile, Alyansa Tigil Mina expressed disappointment over the latest development.“This interim renewal smells tragically as an attempt of DENR to circumvent the already vague and anti-poor Mining Act of 1995,” ATM said.This development even becomes more ironic as the government decided to renew this mining contract during the UN General Assembly which had tackled climate change as its main theme,” it said.An FTAA is entered into between a contractor and the government for the large-scale exploration, development and utilization of gold, copper, nickel, chromite, lead, zinc and other minerals. The FTAA allows OceanaGold, an Australian company, to continue its mining operations in Didipio, Nueva Vizcaya after the original agreement has expired.