Philippines seeks more sites for critical minerals in govt-led exploration By Reuters September 18, 202311:27 PM PDTUpdated September 18, 2023 ...

As reported by Inquirer.net, Leila de Lima, a member of the House of Representatives of the Philippines, filed House Bill ...

The Philippines will lift from Monday its two-year ban on new mining applications, removing a hurdle faced by investors looking to develop the country's mineral reserves worth about $850 billion.

Once the world's largest exporter of the commodity, the Philippines is now racing to catch up with Indonesia. In 2021, Manila lifted a nine-year ban on mining licences.

The indigenous population of the Philippines is estimated to make up roughly 15 percent of the total population, but nearly 60 percent of all mining operations occur on their ancestral lands.

Meanwhile, the Philippines government in 2018 declared the Alegria oilfield on then-SC 49, which at the time was operated by China International Mining Petroleum (CIMP), as commercial.

Under the 1995 mining law, foreign companies typically pay no income tax, no export tax and just 2% excise tax — which is in large part why mining takes up less than 2% of the country’s GDP.

The Philippine government will step up support for the local mining industry via exploration activities starting next year to identify more areas where critical minerals such as nickel and ...