PRESIDENT Ferdinand “Bongbong” Marcos Jr., the Philippines is revitalizing its mining sector by aligning economic ambitions with environmental stewardship. The administration is implementing strategic reforms to harness the country’s mineral wealth responsibly, ensuring that economic development does not compromise ecological integrity.
A cornerstone of this initiative is the proposed Rationalization of the Mining Fiscal Regime. “This crucial bill is fundamental to creating a fair and equitable mining environment for everyone involved,” Marcos said emphasizing the necessity of this legislation.
The bill aims to simplify the fiscal framework governing mining operations, thereby attracting investments and ensuring that local communities benefit from mining activities.
In response to the global shift towards clean energy, the administration is focusing on enhancing domestic mineral processing capabilities. President Marcos highlighted the country’s potential, noting, “As the world transitions to clean energy, the demand for critical minerals is surging. Our country’s abundant resources place us in a prime position to lead the way.”
By investing in infrastructure and technology for local mineral processing, the Philippines aims to strengthen its position in the global supply chain for essential minerals.
Environmental protection remains a central tenet of the administration’s mining policy. The Department of Environment and Natural Resources (DENR) has been tasked with bolstering regulatory measures to ensure that mining operations adhere to stringent safety and environmental standards. President Marcos has affirmed this commitment, stating, “We do not want some of the incidents that we saw in the past few years to happen again.”
This directive underscores the government’s dedication to responsible mining practices that safeguard both the environment and local communities.
The administration’s balanced approach is designed to attract both local and foreign investments, generate employment opportunities, and stimulate regional development. By reinforcing regulatory frameworks and promoting sustainable practices, the government aims to position the Philippines as a key player in the global market for critical minerals, particularly those vital for renewable energy technologies and electric vehicles.
PBBM’s administration is actively revitalizing the Philippine mining industry through comprehensive policy reforms and a steadfast commitment to environmental protection, reflecting a strategic vision to responsibly harness the country’s mineral resources, contributing to economic growth while ensuring ecological sustainability.
