Manila: President Ferdinand R. Marcos Jr.'s recent issuance of an executive order establishing a comprehensive National Policy Framework for the Critical Minerals Industry is expected to further boost the growth of the mining industry, a DMCI Mining Corp. official said.

According to Philippines News Agency, Executive Order No. 122, issued by President Marcos last month, establishes a multi-pronged framework designed to modernize the country's mineral resource management. The EO mandates the development of critical minerals covering the entire value chain-from exploration and utilization to value addition, mineral processing, and manufacturing.

DMCI Mining president and chief operating officer Tulsi Das Reyes expressed optimism about the new policy. "That means they find the mining industry important. They find that we can add value to the country. They find that we can add value to other countries," Reyes said in a recent briefing. He added, "Of course, we're very happy that he still considers the mining industry as a true indicator of development. So, of course, we welcome it."

The executive order also aims to attract investments in the critical minerals industry by accelerating the privatization of government-owned mining assets, enhancing the ease of doing business through streamlined and digitalized permitting processes, and incentivizing critical minerals processing and downstream industries. The EO seeks to streamline the mining permitting process through a virtual one-stop shop. "Hopefully those things will streamline processes where they find maybe not gaps, but things that they can help streamline," Reyes noted.

The Department of Environment and Natural Resources, through the Mines and Geosciences Bureau (MGB), is mandated to issue the Philippine Critical Minerals List, which shall serve as guidance for the implementation of the EO. The MGB is also tasked with leading the exploration of prospective areas across 9 million hectares of mineralized land to identify and declare Critical Mineral Reservations, as well as expand the country's critical minerals resource inventory.

Reyes highlighted the potential of including minerals like copper, gold, nickel, and iron ore in the critical minerals list, noting their strategic importance. "With a geopolitical lens, I think people can say that copper, all-time high right now, is definitely going to be on that list. I think gold is definitely going to be on that list," he said. "Anything for the battery space, nickel will have to be on that list, and iron ore."

While acknowledging the challenges of competing with Indonesia on a global scale, Reyes emphasized the untapped resources in the Philippines that could create new opportunities for the mining industry. "Whether we can compete on a global scale, it's hard to compete with what Indonesia is doing right now. Their volume is high, their grades are high, the scale is just absolutely different. But it does not mean to say that the Philippines cannot play more in the space that we have," he added.