PRESIDENT Ferdinand Marcos Jr. on Wednesday urged Congress to pass the measure on the rationalization of the Philippine mining regime to ensure a “fair and equitable mining environment.”
The President renewed his push for a simplified fiscal regime for the mining industry during the Philippine Mineral Industry Environmental Award (PMIEA) in Malacañang.
“I urge all our dedicated agencies and esteemed members of Congress to support the Rationalization of the Mining Fiscal Regime,” Marcos said. “This crucial bill, which I highlighted in my 2023 SONA (State of the Nation Address), is fundamental to creating a fair and equitable mining environment for everyone involved,” he added.
President Ferdinand Marcos Jr. PHOTO BY YUMMIE DINGDING/PRESIDENTIAL PHOTOJOURNALISTS ASSOCIATION POOL PHOTO
The bill proposes a revised fiscal regime, imposing a four-tier, margin-based royalty ranging from 1.5 percent to 5 percent on income from mining operations outside of mineral reservations.
Under the current fiscal regime, the obligations of mining groups and companies vary depending on the mining agreement. It also imposes taxes only for mines operating within a mineral reservation.
Marcos said that the country’s abundant resources place the Philippines in a prime position as the demand for critical minerals surges amid the world’s transition to clean energy.
“The Philippines is one of the most mineral-rich countries in the world. It has a unique opportunity to leverage its natural resources for national development,” the President said. “But this can only be done if we ensure that the wealth that we generate is shared equitably, that our ecosystems are safeguarded, and that local communities are empowered.”
Marcos directed the Department of Environment and Natural Resources (DENR) to strengthen its regulatory capabilities for all mining operations to ensure compliance with safety and environmental standards.
He mentioned the signing of the Philippine Ecosystem and Natural Capital Accounting System (Pencas) Act in May 2024, which he said, “further emphasizes our dedication to sustainable resource management.”
“This landmark legislation ensures that a robust system is in place to quantify and to integrate the value of our country’s natural assets into national economic planning and decision-making,” Marcos said.
Marcos said his administration aimed to foster “a deeper commitment to sustainability within industries, particularly in mining, and to create a landscape where responsible companies are recognized for leadership and for your innovation.”
The government, he added, is working to align the Social Development and Management Program (SDMP) more closely with the United Nations Sustainable Development Goals.
“This aims to enhance the SDMP’s effectiveness so that it can drive meaningful and positive change within the mining communities,” he said.
Meanwhile, Marcos congratulated the 13 mining companies that were recognized for setting the bar high in “embodying what it means to create value that extends beyond profit.”
“I encourage you to be ambassadors of responsible mining. Share your experiences and best practices, not only with your peers but with the next generation of miners, engineers and environmentalists,” he said.
The award, established by Executive Order 399, recognizes companies for their exemplary performance in environmental protection, safety and health, and social development in the mining sector.
The awardees include Cagdianao Mining Corp.; CTP Construction and Mining Corp.; Eramen Minerals, Inc.; Hinatuan Mining Corp.-Tagana-an; FCF Minerals Corp.; Zambales Diversified Metals Corp.; Taganito Mining Corp.; and Republic Cement & Building Materials, Inc.-Batangas for the Surface Mining Operations Category.
For the Quarry Operations Category, the PMIEA was awarded to Eagle Cement Corp.; Helix Resources and Development Corp.; and Republic Cement & Building Materials Inc.-Teresa.
The Coral Bay Nickel Corp. and the Philippine Mining Service Corp.-Alcoy Plant were also awarded in the Mineral Processing Category.
Be the first to comment