MINING
With an estimated US$ 1.4 trillion in mineral reserves, especially gold, copper, nickel, aluminum, and chromite, the mining potential of Philippines is one of largest in the world. According to the Mines and Geosciences Bureau (MGB), the archipelago is second in the world in gold and third in copper resources. The country is ranked top five in the world for overall mineral reserves, covering an estimated nine million hectares, although less than 2% has received mining permits.
Background
The Philippine mining industry is fortunate to have, aside from the country's substantial mineral resources, a regulatory framework favorable and attractive to investment. After stagnating for almost a quarter century, the mining sector of the economy is making a comeback following a Supreme Court decision in 2005 affirming the Philippine Mining Act of 1995 (RA 7942). [ Read This Chapter ]Recommendations
The prevalent external perceptions are of corruption, Church intervention on mining issues, and inconsistent policy. These perceptions deter new investors. [ Read This Chapter ]
News Updates
Overhaul of mining policies pushed
22 May, 2019 at 11:23
The country’s premier think-tank has urged the government to review its mining policies after its study showed that the current legal framework of the mining sector had too many inconsistencies that gave way to corrupt practices and continued to hinder the industry’s growth.
Open-pit mining investment could have shored up...
15 March, 2019 at 10:00
An independent think-tank said investment frozen by the open-pit mining ban could have sustained the Philippines through the recent drop in Foreign Direct Investment (FDI), which fell 4.4% in 2018.
[OPINION] China’s peaceful rise revisited
6 December, 2018 at 10:26
President Xi Jinping had hoped that the APEC Leaders Summit would be the validation of China’s soft power as the new champion of globalization and free trade…
Philippines still compelling for miners, but mineral...
30 October, 2018 at 15:00
The Philippines will remain a compelling case for miners at least until the end of President Rodrigo R. Duterte’s term in 2022 despite an increasingly trying regulatory environment, according to Fitch Solution’s Philippines Mining Report.
House panel OKs bill establishing fiscal regime...
9 October, 2018 at 10:43
A House of Representatives committee on Monday approved a bill establishing the fiscal regime for the mining industry.
Gloria Arroyo eyes steep tax on open...
21 September, 2018 at 15:00
Speaker Gloria Macapagal Arroyo is firm in supporting the policy agenda of President Rodrigo Duterte to prohibit open-pit mining in the country as stated in his third State of the Nation Address (SONA).
Time to repeal the law on mining...
19 September, 2018 at 15:00
President Rodrigo Roa Duterte on Monday, September 17, stressed that it is time to seriously look into the perils caused by the mining industry in the country.
TWG created to study proposals to rationalize...
19 September, 2018 at 13:19
The House Committee on Ways and Means chaired by Rep. Estrellita Suansing (1st District, Nueva Ecija) today created a technical working group (TWG) that will study the bills pertaining to the…
‘Saddened’ Palace defends government green policies
10 August, 2018 at 17:00
Malacañang was saddened by the lower-than-expected economic growth in the second quarter but claimed there is nothing alarming about it.
Imposition of royalty on all mining operations...
7 August, 2018 at 12:00
The government plans to slap royalty on all mining operations under the proposed tax package 2 Plus.
Duterte to issue EO soon banning open-pit...
30 July, 2018 at 15:00
Malacañang on Thursday said President Duterte would ban open-pit mining soon through an executive order.
28 May, 2018 at 09:56
Legislative franchises for mining operations a must House of Representatives | May 24, 2018 The House committees on legislative franchises
Work on new mining taxes begins
13 February, 2018 at 10:00
The government is moving closer to lifting the ban on new mining projects as the interagency Mining Industry Coordinating Council (MICC) works out a new tax regime for the mineral industry…
Government wants more than just taxes from...
8 February, 2018 at 17:00
The government is now putting finishing touches to a road map that will promote fair revenue-sharing between the government and its mining contractors
Finance dep’t to submit another tax reform...
24 January, 2018 at 10:56
The Department of Finance (DoF) will submit to Congress another tranche of the second tax reform package by the end of the month that will impose more levies on tobacco, mining and coal…
Mining tax change has just begun —...
3 January, 2018 at 14:00
The doubling of a mining levy under the first of up to five planned tax reform packages enacted last week will not preclude further changes to the sector’s fiscal regime, an official of the Department of Finance (DoF) has said.
