OceanaGold Philippines Sees 206% Profit Jump on Higher Gold Prices

OceanaGold (Philippines) reported a significant increase in its first-half profit, jumping 206% to $67.4 million as higher gold prices more than offset lower production.

The company's revenue climbed 63% to $285.3 million, despite gold and copper output declining by 7% and 17%, respectively.

OceanaGold President Joan Adaci-Cattiling stated that the company maintained safe and responsible production in line with its guidance and declared another healthy quarterly dividend for shareholders.