OceanaGold Provides Update on its Philippines Operations

OceanaGold (TSX:OGC) has received a letter from the Department of Environment and Natural Resources along with the Didipio Audit Report outlining the findings and recommendations from the recently completed audit of its Didipio Operations.
As quoted in the press release:

According to the DENR letter, the Company has the opportunity to address the findings and recommendations contained within the Audit Report within seven days of receipt.
The Company notes that, of the findings and recommendations outlined in the Audit Report, a number of them were discussed as a matter of routine with the DENR audit team during the DENR close out meeting following the completion of the audit in August. The findings in the Audit Report relate mostly to a need to further educate a broader group of stakeholders on specific aspects of the operations. The vast majority of recommendations relate to the need to further expand the Company’s Information, Education and Communication (“IEC”) program. Furthermore, the “findings” on the Didipio operations publicised during the DENR press conference on 26 September 2016, were not included as findings outlined in the Audit Report.
The Audit Report states that the Company “has extended more than what is required by law…” and “was found to be complying its permitting requirements set forth by different Philippine Environmental Laws…Moreover its operations are being governed by an Environmental Management System that is ISO 14001:2004 compliant…” The Audit Report goes on to say that the area of Didipio, “has to deal with illegal artisanal small scale mining activities that contribute to the degradation of the immediate environment and waterbodies…” and includes a recommendation to government agencies to stop these illegal operations.

Click here to read the full press release.