US ready to work on PH’s mineral processing, RE

THE United States (US) government has offered its support to the Philippines in developing the country’s mineral processing and renewable energy (RE) sectors.

US Under Secretary for Economic Growth, Energy, and the Environment Jose Fernandez said in an interview in Manila Tuesday that the US government can help the Marcos administration to engage with countries under the Mineral Security Partnership (MSP), a collaboration of 13 countries and the European Union to catalyze investments in responsible critical supply chains across the world.

Fernandez said the US government can organize video conferences with companies in MSP countries where the Philippine government can present to potential investors the kind of investments it needs for the industry.

“It’s a way for us to facilitate engagement by the Philippine government and the mining companies, mining investors out there,” the visiting US official said.

He shared that the MSP currently has “over half a dozen projects,” not only in mining but on the processing side, as well.

Fernandez said with the interest of US companies that are already here, the US government will continue working with the concerned agencies in the country to facilitate their investments here.

“We are working with the Philippines and helping them to create an enabling environment for these types of investments. A regulatory environment that is modern, and that includes the best practices out there,” he added.

Aside from processing critical minerals, Fernandez said the US government is keen to support the Philippines in increasing its RE capacity.

Fernandez had a meeting with the Department of Energy during his visit here. He conveyed that the Development Financing Corp. can be a source of funding for RE projects and infrastructure in the Philippines. /