The Market Herald - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • The Philippines Court of Appeals in Manila has set a date for OceanaGold’s application for a Writ of Preliminary Injunction
  • Since July 1 2019, local government units from the Province of Nueva Vizcaya have impeded access to and from the company’s Didipio Mine
  • OceanaGold says it is committed to working with the government during this process

The Philippines Court of Appeals in Manila has set Wednesday, September 18 2019 as the hearing date for OceanaGold’s application for a Writ of Preliminary Injunction.

Since July 1 2019, local government units from the Province of Nueva Vizcaya have impeded access to and from the company’s Didipio Mine site.

OceanaGold is heading to court as part of its appeal against the Nueva Vizcaya Provincial Court ruling, denying its request to end the “unlawful” restraint of operations at Didipio.

According to the company, the Local Government Code of 1991 (Republic Act No. 7160) does not grant the power or authority to the Provincial Governor or any local government officer to restrain any aspect of the Didipio operation.

OceanaGold President and CEO Mick Wilkes states the company is maintaining transparency and will work with the Philippine regulatory authorities.

“While this process is taking some time, we will always operate in line with our values and commitment to responsible mining, and this means working transparently with the Philippine regulatory authorities to maximise the speed of the renewal,” Mick said.

The company continues to work with the National Government to finalise the renewal of the FTAA and remains open to engaging with the Provincial government.

“I would like to recognise our world-class Philippine workforce of 1500 workers who have remained focused on safety and preserving optionality at site during this uncertain time,” Mike continued.

Didipio is a high-grade underground copper and gold mine, located on the island of Luzon in the Philippines.

OGC by the numbers
More From The Market Herald
The Market Herald Video

TMH Market Close: ASX200 finishes up 0.4pc as Plenti soars on NAB EV loan deal

The ASX200 has closed up about .4 of a per cent, with just energy, IT, industrials…
The Market Herald Video

VHM commences public exhibition for Goschen REE and mineral sands project

VHM (ASX:VHM) has announced that its Goschen project Environment Effects Statement (EES) will be placed on…
The Market Herald Video

TMH Market Update: Australian retail turnover dips 0.2pc in October

The ASX200 has continued to gather early gains and is up nearly half a per cent…

Plenti shares rocket as small loan provider teams up with NAB

Plenti (ASX:PLT) shareholders are having a fantastic day. The catalyst? The listed small loan provider has…