OceanaGold allots P100 M for community projects

MANILA, Philippines - Mining company OceanaGold has allocated P100 million or an equivalent of 1.5 percent of the company’s annual operating cost for community projects to support its corporate social responsibility (CSR) commitment.

Chito Gozar, OceanaGold SVP for communicatiions and external affairs, said community projects that will be given priority access to the fund pool include human resources development and institutional building; enterprise development and networking; infrastructure development and support; access to health services, health facilities and health professionals; access to education and other educational support programs; protection and respect of socio cultural values; and sports.

He said OceanaGold has initiated the establishment of a cooperative in each of the 10 barangays around its mine site in Didipio, Nueva Vizcaya to ensure efficient management and implementation of various community development projects. The move is part of the company’s continuing program to equip with sufficient technical skill and know-how local stakeholders involved in community improvement activities.

OceanaGold has so far granted a total P1.168 million of livelihood fund assistance to community cooperatives of Brgy. Wangal and Capisan in Kalibu, and Brgy. Tucud in Cabarroguis. The cooperatives established were mandated to focus on disciplines of general merchandizing, micro-financing, food terminal, farm supply merchandizing and credit lending.

“Establishing a cooperative per barangay is the best mechanism to address the needs of our communities through credit lending, capacity building and other socio-economic innovations which promote sustainability and self-sufficiency growth,” Gozar said.

He explained in establishing cooperatives, OceanaGold provides technical and financial assistance to each of the barangays which then undergoes pre-membership education seminars and a five-year strategic planning workshop. OceanaGold has now helped establish six barangay cooperatives and four more are currently being set up with more than 500 registered members already benefited.

“We are envisaging each of the barangay cooperative to become a very successful community enterprise such as the Didipio Community Development Corp. which OceanaGold also helped establish in partnership with its host community and which is now worth $2.8 million,” Gozar noted.