BSP governor meets officers of OceanaGold

1 of 2

Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla underscored the central bank’s commitment to responsible gold sourcing and sound reserve management.

He made this declaration at the courtesy call by OceanaGold President and Chief Executive Officer Gerard Bond at the BSP (on 9 June 2023) where he offered to increase its gold sales to the BSP.

The BSP and OceanaGold Philippines, Inc. (OGPI) signed an agreement in May 2022 which states that OGPI will offer at least 25 percent of its annual gold production to the BSP at fair market prices. OGPI operates the Didipio Mine in the Nueva Vizcaya-Quirino area, under a Financial or Technical Assistance Agreement with the Philippine government.

The BSP buys gold from both small- and large-scale miners operating in the Philippines. Its gold holdings form part of the country’s gross international reserves, which support economic activities and serve as buffer against potential adverse impact on the economy.

In photo are, from left: OGPI’s  Financial Accounting Superintendent Hesther T. Bahiwag, Manager Karina P. Dulinayan,  President Joan D. Adaci-Cattiling, and CEO Gerard Bond with  BSP Governor Felipe M. Medalla, Senior Assistant Governor Edna C. Villa, Deputy Governor Mamerto E. Tangonan, Managing Director Rosabel B. Guerrero, Deputy Governor Bernadette Romulo-Puyat, Currency and Securities Production Department Officer-in-Charge Sarah Severina C. Curtis, and Mint and Refinery Operations Director Erizelle N. Linaban.