BoI promotes PH as hub for green metals

THE Board of Investments (BoI) promoted the Philippines as a green metals and processing hub and made a pitch for the country’s mineral industry during a recent mining convention in Canada.

In a statement on Monday, the BoI said a Philippine delegation focused on the critical role of minerals in the global energy transition in presentations to 10 foreign companies during the Prospectors and Developers Association of Canada (PDAC) 2024 conference.

In addition to Canadian firms, companies from the United States and Australia and representatives from the mining, mineral processing, battery materials, consultancy and academe were also present. No commitments were received during the event, the BoI said.

“However, several followthrough meetings are being arranged for companies seeking partnerships in mineral processing. Notably, one company expressed interest in visiting the Philippines in third quarter,” it added.

BoI Executive Director Ma. Corazon Halili-Dichosa said the government wants to have minerals processed locally and supply local industry needs or export higher value materials.

“Let me stress that we remain committed to support the global energy transition but with the clearer goal of getting more economic value from our minerals,” she added.

The Philippines has approximately 9 million hectares of mineral potential, with large deposits of copper, nickel, iron, chromite, cobalt, gold, and rare earth elements.

Consul General Angelica Escalona, meanwhile, expressed optimism on strengthening economic cooperation between the Philippines and Canada. She added that Canada’s IndoPacific strategy was a promising platform to deepen business cooperation.

Investment opportunities in three major copper-gold projects in the country, including Kingking, Tampakan, and Silangan ventures, were highlighted in the presentations of Chamber of Mines of the Philippines and the Philippine Nickel Industry Association.

The BoI said the country wants to become a preferred destination for priority sectors such as electric vehicles, smart manufacturing, semiconductors and electronics, green metals, high-tech agriculture, renewable energy, and data centers/telecoms.