Local mining groups have expressed support for the bicameral conference committee’s reconciled version of the mining fiscal reform bill pending in Congress.
The Chamber of Mines of the Philippines (COMP) said in a statement on Wednesday the version of the bill backed by the mining groups has proposed a shift to a tax regime based on profit margins and windfall earnings.
“While a tax increase is inevitable, we believe this progressive and responsive approach allows the government to benefit more when global commodity prices rise, without placing undue burden on miners during market downturns,” COMP chairman Michael Toledo said.
Toledo also called this version of the bill “realistic” for removing the proposed raw ore export ban.
“This framework offers a win-win outcome: it ensures fairer and more sustainable government revenues, encourages both local and foreign investment, and strengthens the Philippines’ role in the global clean energy supply chain. Just as important, this bill promotes inclusive development. When properly regulated, increased mining will boost regional economies, provide funding for host communities, and support local governments,” he added.
The COMP expressed hope President Ferdinand Marcos Jr. would immediately sign the reconciled version of the bill into law, after its ratification in Congress.
In a separate message, the Philippine Nickel Industry Association (PNIA) also expressed optimism with the revised version of the mining fiscal reform bill.
“PNIA welcomes the bicameral committee’s decision to remove the raw ore export ban provision from the final version of the mining fiscal regime bill. This is a prudent and forward-looking step that protects jobs, upholds investor confidence, and reflects a more realistic understanding of the challenges surrounding domestic mineral processing,” the group said.
The PNIA agreed with the need for a “calibrated increase” in mining taxation to ensure fair government revenue and public benefit.
“PNIA shares the national aspiration to build a robust value-added processing sector in the Philippines. However, the path to achieving this requires more than regulatory mandates. It demands the resolution of persistent structural issues such as high energy costs, weak infrastructure, policy uncertainty, and permitting delays, which continue to deter large-scale investments in mineral processing,” the group pointed out.
The COMP is currently the country’s largest group of mining, quarrying, and mineral-processing companies.
The PNIA, on the other hand, is an organization formed to promote and develop the nickel mining industry in the country.
