President Ferdinand “Bongbong” Marcos Jr. has signed an executive order aimed at unlocking the Philippines’ critical minerals potential, but the policy is also drawing debate over how much access foreign investors should have to the country’s resources.
Executive Order No. 122 establishes a Unified National Policy Framework for Developing the Critical Minerals Industry, with the goal of strengthening exploration, expanding local processing, attracting investments, and ensuring sustainable mining.
Unlocking New Mineral Resources
The Department of Environment and Natural Resources (DENR) said the Philippines has at least 9 million hectares of prospective areas that may hold valuable mineral resources.
The EO directs the DENR to identify and evaluate new critical mineral deposits, particularly those needed for clean energy, digital transformation, and infrastructure development. Freed-up mining areas may also be considered for declaration as critical mineral reservations.
The government also wants to move beyond raw ore exports by encouraging local mineral refining, battery production, and other downstream industries.
Should Foreign Companies Be Allowed In?
The new policy raises an important question: Should foreign companies be given greater access to the Philippines’ critical minerals?
The International League of Peoples’ Struggle (ILPS) Philippines warned against allowing foreign interests to shape the country’s mineral policy.
“Critical minerals should serve Philippine development, not the supply-chain requirements of Pax Silica or any foreign power.”
However, others see foreign investment as necessary to develop the industry.
German Ambassador Andreas Michael Pfaffernoschke said a clear policy framework could attract German mining companies to explore opportunities in the Philippines. He noted that while there are no concrete investment plans yet, there are general intentions to look into the country’s critical minerals sector.
Finding the Right Balance
The key challenge is ensuring that foreign investment brings real benefits to Filipinos.
Foreign companies could bring capital, technology, and expertise needed for large-scale exploration and processing. But critics argue that the government must prevent the country’s resources from simply being extracted to support the needs of other nations.
With EO 122, the Philippines is seeking a bigger role in the global critical minerals industry. The challenge now is making sure that growth and investment ultimately translate into more value, jobs, and long-term benefits for the country
