The Chamber of Mines of the Philippines (COMP) on Thursday hailed the passage of the Enhanced Fiscal Regime for Large-Scale Metallic Mining Act, saying it provides the industry with the predictability and consistency needed to attract long-term investment.
In a statement, the chamber said the new framework “establishes a stable, transparent and competitive fiscal environment for the Philippine mining industry.”
“We recognize that increased taxation is inevitable. We also see the importance of what this law provides: predictability and consistency in the fiscal framework, which are essential for long-term planning and investment,” COMP said.
The law imposes a royalty on mining operations while ensuring the government and host communities receive a fairer share of revenues during periods of high commodity prices, and allows tax relief when prices are low.
COMP noted the system aligns the Philippines with global mining jurisdictions, boosting competitiveness at a time when demand for critical minerals is rising worldwide.
“This policy milestone comes at a pivotal moment as the Philippines seeks to position itself as a reliable source of essential minerals for the global energy transition,” COMP added, crediting Congress and President Ferdinand Marcos Jr. for enacting the “long-overdue reform.”
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., echoed the view, calling the measure “a welcome development” that reflects global best practices. “This reform has been pushed for many years already to simplify taxation and give a fair share to the government,” he said.
The new regime comes as the mining sector posts stronger numbers. The Mines and Geosciences Bureau reported this week that metallic mineral production rose 15.1 percent in the first half of 2025 to P135.62 billion, from P117.78 billion in the same period last year, driven largely by gold, silver and copper.
COMP chairman Michael Toledo said the industry remains “cautiously optimistic” about sustaining the momentum in the second half, though he warned that external factors such as global market volatility, economic shifts, and weather disruptions could temper gains.
