Marcos bags $2B in Canadian investment pledges

The Philippines has secured nearly $2 billion in investment commitments from Canadian businesses as President Marcos capped his official visit to Canada today (Philippine time).

- By HELEN FLORES

Marcos attended separate roundtable discussions with Canadian mining and IT-BPM executives at the Fairmont Pacific Rim yesterday.

“The Philippines is certainly open for business, ready for partnerships and committed to create long-term value to responsible resource development and sustainable growth,” Marcos told business leaders who attended the discussion.

Canada-based OceanaGold Corp. is undertaking a $1.9-billion expansion plan to extend the operational life of the Didipio Gold-Copper Mine at Kasibu, Nueva Vizcaya until 2037.

Marcos also held a one-on-one meeting with executives of B2Gold Corp. and Philippine-based Filminera Resources Corp. to discuss planned expenditures of approximately $14 million for the solar plant expansion of the Masbate Gold Project and exploration programs. The two companies jointly operate the Masbate Gold Project.

The President also met with executives of NQX to discuss the company’s three-year, $10.3-million expansion program to scale its high-tech customer experience and software engineering operations.