This study investigates the experience of a gold mining community two decades after corporate mining activities ceased and were replaced by informal subcontract small‐scale mining in Itogon, Philippines. Drawing on David Harvey’s accumulation by dispossession and Daanish Mustafa’s hazardscape, we consider the lasting effects, from 1903, of dispossession upon the establishment of the first commercial mines in the Philippines as experienced by traditional miners in Itogon. Despite the closure of mining operations, mineral lands remain privately owned, resulting in the persistence of legal land dispossession among local small‐scale gold miners. Mining activities still continue as small‐scale miners are able to access abandoned mines through subcontract mining. Subcontract mining has changed the source of capital that funds mining activities from mining corporation to rent‐seeking small‐scale mining financiers, but the new economic relations still benefit from the capitalist logic of low natural resources and labour value. We argue that the production of hazardscapes is a consequence of accumulation by dispossession through (1) processes of expropriation of mineral lands and the consequent creation of free labour among local miners; (2) the externalisation environmental cost as an accumulation strategy that results in the production of socionatural hazards; and (3) exploitation of those who labour and who are made to work in precarious work environment while contributing to the production of hazardscapes.