BAYOMBONG, Nueva Vizcaya—Recognizing the challenge of economic sustainability through cooperatives, Asia-Pacific miner OceanaGold spent more than P5 million last year from its Social Development Management funds to support “enterprise development and agricultural credit projects.”
Thirteen cooperatives were established after the success of the multi-million enterprise Didipio Community Development Corp. or DiCorp in Barangay Didipio, Kasibu Nueva Vizcaya. Barangay Didipio is the community hosting OceanaGold’s Didipio Mine. These cooperatives will be focused on helping to ensure the sustainability of the livelihood programs beyond the life of the Didipio mine.
DiCorp was established through the assistance of OceanaGold. The main goal is to train residents achieve a self-sufficient local economy during the mine’s operation and after the mine is exhausted and eventually closed.
Owned and managed by long-time residents of Didipio, the corporation now employs over 300 employees, generated P932 million in gross revenue from long-term Didipio mine contracts from 2011 to 2016. DiCorp has been awarded by BIR as one of the top tax payers in Nueva Vizcaya.