Amid the push to ensure the sustainable and responsible extraction of the Philippines’ mineral resources, the country confronts the challenge of attracting investment opportunities into its capital-intensive mining sector.
In a recent report by Philippine Star, the Department of Environment and Natural Resources (DENR) Secretary Maria Antonia Yulo-Loyzaga emphasized the need for investments in value-added processing on top of exporting raw ore.
To achieve this, DENR Undersecretary Carlos Primo David is advocating for government-led exploration, a policy on small-scale mining, and a reevaluation of the social development and management program (SDMP) of mining companies, which is vital for community development.
The DENR plans to intensify government-led exploration of critical minerals, with technical assistance from foreign partners such as the Australian Government and the US Geological Survey.
The Mines and Geosciences Bureau (MGB) will also promote mineral processing, particularly for laterite deposits, emphasizing nickel, iron, cobalt, and rare earth minerals. These strategies aim to maximize the value of the country’s mineral resources and cater to energy transition, economic development, and global demand for critical minerals.
Environment Secretary Loyzaga underscores the importance of nickel in attracting new investments in processing, emphasizing that minerals are essential for energy transition.
Furthermore, the DENR plans to streamline the process and serve requests efficiently once digitization is achieved, aligning with the industry’s desire for a more efficient permitting process.
The department’s efforts seek to strike a balance between the country’s economic development and environmental protection while catering to global demand for critical minerals.
