The Philippine Nickel Industry Association (PNIA) said it received strong international interest in Philippine rare metals, particularly from the US, EU, Canada, Australia, Japan and China over the rising demand for critical minerals in clean technology.
It warned, however, that unpredictable regulations could hinder potential investments.
The industry cites the Fraser Institute’s 2021 ranking, placing the Philippines among the least attractive investment destinations due to policy concerns.
PNIA president Dante Bravo said in the recent mining summit that optimizing the trade of Philippine nickel requires a multi-faceted approach. Factors like nickel quality, processing capabilities, target markets, technology and pricing influence investment decisions.
“We need a thorough evaluation of these elements to maximize the economic potential of Philippine nickel,” he said.
PNIA pushed for a “whole-of-government and whole-of-society approach” to create a more attractive investment environment. This includes streamlining policies, strategies, and action plans.
PNIA proposed several policy recommendations but emphasized eight key points including appointing an industry champion to expedite progress; resolving policy and regulation gaps between national and local levels; stablishing a one-stop shop for permits and payments for better transparency; and balancing the fiscal regime to attract investors while meeting revenue goals.
He also suggested to explore, assess and manage nickel resources with a focus on quality as well as quantity; develop a data-driven strategy for nickel trade and utilization; strengthen collaboration between government and stakeholders; fast-track a multi-industry roadmap for the nickel industry.
PNIA reiterated its commitment to working with the government to accelerate mining sector growth while prioritizing environmental responsibility and inclusive economic benefits for Filipinos.
It emphasized empowering mining communities for long-term self-reliance.
The recent DENR Mining Summit is seen as a positive step towards open communication. PNIA expressed hope for continued collaboration and improved mechanisms for achieving sustainable mining development in the Philippines.