Philippines Poised for Critical Minerals Boom with New Executive Order

ABORLAN, Palawan—The Philippine mining industry is seen entering a "sweet spot" for investment with the recent signing of Executive Order No. 122, which aims to boost the critical minerals sector. DMCI Mining Corp. expressed optimism that the order will streamline regulations and expedite the permitting process. Signed last month, EO 122 directs the Department of Environment and Natural Resources, through the Mines and Geosciences Bureau (MGB), to establish a comprehensive framework for the industry. "We are very happy that he (President Marcos) still considers the mining industry as a true indicator of development," said DMCI Mining president Tulsi Das Reyes. He added that the EO "can help hasten [permits], it will only be for the better of everyone because everyone’s in exploration mode. Everyone has MPSAs (mineral production sharing agreements) that are not moving." The EO seeks to accelerate the privatization of government-owned mining assets, streamline and digitalize permitting processes, and offer incentives for processing and downstream industries. The MGB is currently auditing all existing MPSAs and exploration permits, adopting a "use it or lose it" policy for dormant areas. Reyes expects copper, nickel, gold, and iron ore to be among the critical minerals identified under the EO. These resources are vital for renewable energy technologies and electronics manufacturing, suggesting an increased role for the Philippines in global supply chains. The push to develop critical minerals comes as the Philippines navigates geopolitical tensions in the South China Sea and seeks to bolster its economic growth. While the development of these resources could contribute to economic diversification and job creation, it also highlights the need for careful environmental stewardship and community engagement.