VANCOUVER, Canada — Canadian mining firm B2Gold Corp. is planning to invest approximately $14 million for the solar plant expansion at the Masbate Gold Project and ongoing exploration programs, Malacañang said on Friday (Saturday in Manila).
The commitment was made during President Ferdinand Marcos Jr.'s meeting with executives of B2Gold and Filminera Resources Corp. on the sidelines of his official visit to Canada.
During the meeting, the Vancouver-based mining firm briefed Marcos about its plan, which is subject to further agreement between the concerned parties, to provide technical and exploration expertise to assess opportunities for extending the operational life of the Masbate Gold Project, the Presidential Communications Office (PCO) said.
The PCO said the B2Gold executives also updated the President on new exploration initiatives through the B2Gold Philippines Exploration Office, established following the company's positive experience operating in the Philippines and reflecting its continued confidence in the country's mining sector.
"The project has already generated billions of pesos in taxes that have helped improve infrastructure, educational opportunities and local livelihoods," Marcos said in a Facebook post.
"That is the standard we will continue to uphold. We will continue to pursue investments that invest in our people first," he added.
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 Masbate Gold Project generated more than P10 billion in taxes for local and national governments.
The PCO said the project’s extensive tax contributions helped elevate its host town, Aroroy, from a lower-income fourth-class municipality to a thriving first-class municipality, resulting in improved public infrastructure, educational assistance, and training programs for local scholars.
