RE:RE:RE:RE:RE:RE:RE:RE:Be readyI find it useful to go to the annual Sustainability report to find how much OceanaGold pays for royalties, rates and taxes to governments. The 2021 report is not yet available, but the following figures (in million US$) are from the 2018, 2019 and 2020 reports.
Haile: 2018: $4.0, 2019: $2.4 2020: $2.4
Didpio: 2018: $26.7, 2019: $17.5, 2020: $5.8
Wahi: 2018: $4.0, 2019: $16.1, 2020: $4.6
Macraes: 2018: $2.3, 2019: $4.8, 2020: $24.2
The 2020 report gives a breakdown between income taxes, royalties and other payments. For that year (in which Didipio was in lockdown), the report shows that Didipio paid almost zero income tax, but maintained a $5.8 million payment for community development in Quirino province.
The FTAA says
“Under the terms of the FTAA, Didipio’s net revenue (as defined in the FTAA) is shared with the Philippine Government. The Government’s share, which includes all taxes and royalties paid, is 60% and OceanaGold is entitled to 40%. The FTAA includes a defined five-year recovery period during which time OceanaGold can recoup the capital investment made to develop and construct the mine. During the recovery period and on an ongoing basis, OceanaGold pays taxes, royalties, and other fees.”
Commercial production as an open pit started in 2013. Thus, the recovery period would have been up in 2018. Nonetheless, it appears that OceanaGold was making sizeable payments in 2018 and 2019.