Canada-based B2Gold Corp plans to invest $14mn in its Philippine operations to expand a solar power facility and fund geological exploration at the Masbate Gold Project, the Presidential Communications Office (PCO) announced on July 4. Executives from the Vancouver-headquartered miner and its local partner, Filminera Resources Corp, presented the strategy to President Ferdinand Marcos Jr. during his official visit to Canada, The Manila Times reports.
The commitment highlights growing international confidence in the Philippine extractive industry, a sector increasingly vital for generating local employment and funding regional public infrastructure amid national economic modernisation efforts.
B2Gold plans to provide technical and exploration expertise to assess options for extending the operational life of the open-pit gold mine, the PCO said, noting the plan requires a formal agreement between the involved parties. The company also launched new exploration initiatives through the recently established B2Gold Philippines Exploration Office following positive operational experiences in the archipelago.
The venture generated more than PHP10bn in local and national taxes in 2025, according to the PCO. The mining site is co-operated by local firm Filminera Resources Corp and Philippine Gold Processing and Refining Corp, which is a subsidiary of B2Gold.
Tax contributions from the site elevated the host municipality of Aroroy from a fourth-class low-income district to a first-class municipality, Marcos Jr. stated in a social media post. The fiscal revenues funded local public infrastructure, educational grants, and vocational training schemes for regional students.
'The project has already generated billions of pesos in taxes that have helped improve infrastructure, educational opportunities and local livelihoods,' said President Ferdinand Marcos Jr. 'That is the standard we will continue to uphold. We will continue to pursue investments that invest in our people first.'
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