The Philippines is pushing to turn more of its mineral wealth into higher-value products at home, with the government and the nickel industry betting that a new national mining policy can draw investments into processing and manufacturing instead of relying largely on raw mineral exports.

The Philippine Nickel Industry Association (PNIA) said Tuesday the Executive Order No. 122 could strengthen the country’s position in the global critical minerals market as economies compete for minerals, investments, technology and supply chains.

“At a time when countries around the world are competing to secure critical minerals, investments, technologies, and supply chains, the President has sent a clear signal that the Philippines intends not only to participate in this global opportunity, but to compete for it,” PNIA said.

President Ferdinand Marcos Jr. signed EO 122 on 21 August, establishing a national policy framework for the responsible development of the mining and critical minerals sector.

The order seeks to promote value-added processing and downstream industries, attract investments, streamline government processes and strengthen responsible mining practices.

The Department of Finance (DOF), on the other hand, said the framework could allow the country to capture more economic value from its natural resources by building industries around minerals instead of simply extracting and exporting them.

“EO 122 gives us a clear framework to develop our critical minerals industry, while strengthening the conditions for responsible investment. Our goal is to build industries around our mineral resources—processing, manufacturing, and other value-adding activities that create jobs, attract investments, and generate greater value for the Philippine economy,” Finance Secretary Frederick Go said.

Under the framework, the Department of Trade and Industry-Board of Investments, together with the Department of Environment and Natural Resources, will promote investments in critical mineral refining and advanced materials processing.

The government is also targeting manufacturing investments in batteries, electronic components, renewable energy technologies and other downstream products.

PNIA said the designation of all critical mineral projects as national priority projects marks a significant change in how the country treats its mineral resources.

“It recognizes that our mineral resources are not simply commodities to extract, but strategic national assets that can support industrialization, infrastructure, energy security, digital transformation, and the clean energy transition,” PNIA said.

The framework also covers industries that could grow alongside mineral processing, including energy, water supply, transport and logistics, as well as mineral recovery and recycling.

The Philippines is already one of the world's major nickel producers and also holds deposits of copper, cobalt and other critical minerals, allowing the country to capture a bigger share of global value chains.

But PNIA said attracting capital will depend on whether the government can translate the new policy into faster and more predictable processes for investors.

EO 122 calls for stronger inter-agency coordination, streamlined and digitalized permitting, and the establishment of a virtual one-stop shop. It also provides for simultaneous rather than sequential processing of requirements.

“For investors, strong policy direction builds confidence, but consistent implementation sustains it. The Executive Order therefore sends an important signal to the global investment community. The task now is to translate that direction into faster, clearer, and more predictable processes on the ground,” PNIA said.

The order also calls for strict implementation of the “Use It or Lose It” policy covering critical mineral mining tenements and the accelerated disposition and privatization of government-owned critical mineral mining assets through the Privatization and Management Office.

It likewise strengthens the Mining Industry Coordinating Council, with the finance and environment secretaries serving as co-chairpersons.

The council is expected to align government policies and programs and address regulatory gaps and investment barriers affecting the sector.