Marcos stresses local mineral processing, sustainable mining

President Ferdinand 'Bongbong' Marcos Jr. emphasized the importance of investing in local infrastructure for mineral processing during a ceremony on Wednesday.

Marcos highlighted that as the world shifts towards clean energy, there is an increasing demand for critical minerals, placing the Philippines in a prime position to lead this transition.

He stressed the necessity of adopting environmentally responsible mining practices to ensure sustainable resource management and emphasized the need for infrastructure and technology to process these minerals domestically.

The President also mentioned the signing of the Philippine Ecosystem and Natural Capital Accounting System (PENCAS) Act in May 2024, which aims to integrate natural asset values into national economic planning.

Marcos noted that the government is enhancing policies to boost local value addition through mineral processing while strengthening environmental safeguards for mining operations, and urged support for the Rationalization of the Mining Fiscal Regime bill.

The Mines and Geosciences Bureau (MGB) under the Department of Environment and Natural Resources (DENR) awarded 13 companies in various categories for their commitment to responsible mining practices.