Vancouver: Canadian mining company B2Gold Corp. is planning to invest approximately USD14 million for the expansion of its Masbate Gold Project and new exploration initiatives.
According to Philippines News Agency, the planned investment was discussed during President Ferdinand R. Marcos Jr.'s meeting with executives of B2Gold and Filminera Resource Corp. at the Fairmont Pacific Rim. The meeting, which took place on the sidelines of Marcos's Official Visit to Canada, focused on the companies' investment for the solar plant expansion at the Masbate Gold Project and ongoing exploration programs.
During the meeting, B2Gold briefed Marcos about its plan, which is subject to further agreement between the parties, to provide technical and exploration expertise to assess opportunities for extending the operational life of the Masbate Gold Project. This initiative underscores the Canadian company's commitment to enhancing its operations in the Philippines.
The PCO noted that the Canadian gold producer also presented its new exploration initiatives through the B2Gold Philippines Exploration Office, which was established following the company's positive experience operating in the Philippines. This development is indicative of B2Gold's ongoing confidence in the Philippine mining industry and its potential for growth.
The Masbate Gold Project is a major open-pit gold mining operation in the Philippines, jointly operated by B2Gold subsidiary Philippine Gold Processing and Refining Corp. and Philippine firm Filminera. In 2025, the project generated more than PHP10 billion in taxes for local and national governments, showcasing its significant economic impact.
The extensive tax contributions from the Masbate Gold Project have helped elevate its host town, Aroroy, from a lower-income fourth-class municipality to a thriving first-class municipality. This transformation has resulted in improved public infrastructure, educational assistance, and training programs for local scholars, further demonstrating the project's importance to the region.
