The Philippines’ new critical minerals policy could attract fresh investment in mining and mineral processing by giving investors greater regulatory certainty for capital-intensive projects, according to the Chamber of Mines of the Philippines (CoMP).

CoMP on Saturday backed Executive Order 122, which establishes a national policy framework for critical minerals and strengthens the Mining Industry Coordinating Council.

Policy stability crucial

The industry group said policy stability would be crucial in attracting long-term capital for projects that require large investments and years of development before reaching commercial production.

“We strongly endorse the Order’s emphasis on policy stability, regulatory consistency, and transparency. Securing long-term capital for exploration, mine development, and mineral processing requires a predictable environment that builds investor confidence,” CoMP said.

Attract investments beyond mineral extraction

EO 122 also seeks to attract investments beyond mineral extraction by encouraging domestic processing, refining, and downstream manufacturing.

The shift could allow the Philippines to capture more economic value from its mineral resources while generating jobs and expanding local supply chains.

“Critically, EO 122 looks beyond extraction. By encouraging value-added processing, refining, and downstream manufacturing, it lays the foundation for the Philippines to capture greater value from its mineral wealth, driving new investment, generating quality jobs, and bolstering local supply chains,” CoMP said.

Critical minerals are increasingly used in renewable energy, energy storage and other clean technologies, raising their importance to global energy and manufacturing supply chains.

Stronger coordination

CoMP said stronger coordination among government agencies and the digitalization of regulatory processes could also reduce approval delays that have weighed on mining investments.

The chamber, however, said streamlined permitting should not weaken environmental and social safeguards.

It said mining expansion should maintain high environmental, social and governance standards while protecting host communities and indigenous peoples.