The Chamber of Mines of the Philippines (COMP) said recent reforms under the Marcos administration have positioned the country among the world’s top 20 most attractive mining destinations, boosting investor confidence through policy stability and streamlined processes, Manila Bulletin reports.
Citing the Fraser Institute’s 2024 Annual Survey of Mining Companies, COMP noted that the Philippines climbed to 16th out of 82 jurisdictions in investment attractiveness. The country also ranked 25th in policy perception and ninth out of 58 highly endowed jurisdictions in best practices mineral potential.
The results mark a dramatic turnaround from 2023, when the Philippines ranked 72nd in investment attractiveness, 79th in policy perception, and 41st in best practices mineral potential.
“Under President Ferdinand R. Marcos Jr., the Philippine government has sent a clear and consistent message: responsible mining is welcome and needed as a catalyst for rural development and the clean energy transition,” said COMP Chairman Michael Toledo.
COMP attributed the improvement to the government’s whole-of-government approach in streamlining the permitting process for mining applications and providing greater regulatory predictability.
“This remarkable improvement in our investment attractiveness ranking shows that steady reforms under the Marcos administration are paying off, especially in creating greater policy stability and making it easier to do business for responsible miners,” Toledo said.
He added that the impending passage of the Mining Fiscal Regime bill—listed as a priority measure by the administration—is expected to lift the country’s ranking further in next year’s survey.
The measure seeks to establish a more equitable fiscal framework for large-scale mining operations, featuring a five-tier margin-based royalty system and a windfall profit mechanism. COMP was among the groups that welcomed the removal of a proposed ban on the export of raw minerals from the bill.
“The forthcoming Mining Fiscal Regime bill promises to lock in even more predictability and strengthen the Philippines’ reputation as a reliable destination for long-term mineral investments,” Toledo said.
COMP emphasized that aligning with global mining standards not only reinforces investor trust but also supports the country’s clean energy transition by ensuring sustainable resource development.
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