The Department of Finance (DOF) welcomed Executive Order (EO) No. 122, which establishes a national policy framework for the responsible development of the Philippines’ mining and critical minerals sector and seeks to harness its potential to support economic growth and industrialization.

In a Monday evening statement, DOF Secretary Frederick Go said the framework would allow the Philippines to move beyond exporting raw minerals and capture more value from its natural resources.

“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,” Go said.

Signed by the President last Friday, 21 August, EO 122 establishes a national framework for developing the Philippines’ critical minerals industry, targeting resources such as nickel and copper for clean energy, advanced manufacturing, and national security.

The order calls for expanded exploration, streamlined permits, domestic processing and downstream industries, while allowing the privatization of government-owned mining assets and enforcing a “use it or lose it” policy. It also reorganizes the Mining Industry Coordinating Council and mandates environmental and community safeguards.

The DOF said the EO further strengthens coordination by naming the finance and environment secretaries as co-chairpersons of the Mining Industry Coordinating Council, which will align government policies and programs for the strategic development of the sector.

“As co-chair of the MICC and head of the Economic Development Committee (EDCom), we will work with our partners to ensure that our policies support the responsible development of the critical minerals industry, while encouraging more investments and greater value creation for the Philippine economy,” Go added.

The DOF said the Department of Trade and Industry (DTI)’s Board of Investments, in coordination with the Department of Environment and Natural Resources, has been tasked with promoting investments in critical mineral refining, advanced materials processing, and the production of batteries, electronic components, renewable energy technologies, and other downstream products.

The signing of the EO comes as critical minerals have taken center stage, with the country’s natural resources becoming a key talking point of the Pax Silica initiative. BCDA President Joshua Bingcang said the hub aims to process locally sourced minerals “such as nickel and copper into higher-value products for export.” 

DTI Undersecretary Ceferino Rodolfo, meanwhile, has said mineral processing could come later, as Pax Silica initially focuses on semiconductors.

Critics have warned that linking Pax Silica to critical-mineral processing could intensify mining, environmental degradation, and pressure on water and energy resources. Advocacy groups have also cautioned that the Philippines could become a processing hub for hazardous mineral and e-waste materials, while raising concerns over community displacement and environmental costs.