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OceanaGold: Closes in on FTAA renewal, causing share price jump | Fintech InShorts: Latest fintech news, analysis by experts

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OceanaGold: Closes in on FTAA renewal, causing share price jump

By Steve Sam

December 8, 2020

OceanaGold (OGC) has revealed its close to getting its Financial or Technical Assistance Agreement (FTAA) renewed for its Didipio Mine in the Philippines
Obtaining the FTAA is crucial as it will allow the company to begin mining again after local government officials and anti-mining protesters blocked access to the site
The Philippine Government has advised Oceana that the FTAA is close to completion after the President’s office personally intervened
The company said it has also received support from the local community to begin mining again, including those within the Indigenous Community
An estimated 1500 workers have affected by the protests, including almost 500 permanent lay-offs
Shares in OGC have surged a stunning 31.6 percent following today’s announcement, trading at $2.50 each

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