Backed by P60 million in funding, the government is set to launch a more focused mineral exploration regime next year to complement the private sector's drive to ramp up local production of minerals.

Environment and Natural Resources Undersecretary for Environment and Integrated Science Carlos Primo David said the planned exploration will particularly target the unveiling of critical minerals that would support the country's renewable energy transition.

These critical mineral resources, such as nickel and chromium, are used in manufacturing batteries for electric vehicles.

"The government has a budget of P60 million for mineral exploration. What we want to do is to focus on certain areas," David told reporters in an interview with reporters at the sidelines of the Mining Philippines International Conference and Exhibition on Tuesday.

Not enough fund

David, however, noted that the budget would not suffice for a full-blown mineral exploration as it will be equally divided among the 16 regions of the country.

"We wanted to focus on that small budget and revive exploration by the government.  Hopefully, when we do the initial exploration, there is enough information for the private sector to get interested and continue the exploration," David said.

For David, mining exploration should be initiated by the government either through a Department Administrative Order or Memorandum Circular.

Relatedly, the Mines and Geosciences Bureau or MGB was tasked to follow up on previously explored areas that were left or discontinued.

In his keynote speech, David pointed out that while the minerals development sector grows, global studies have shown that responsible mining that marries financial viability with environmental sustainability and social development can ensure a longer life of mine, greater acceptability, and license to operate and sectoral stability.

"A responsive and responsible mining industry that delivers both corporate and national dividends and abides by the guidelines of the Task Forces of Climate and Nature-related financial disclosures is what we envision for the country," he said.