A top official of the Chamber of Mines of the Philippines has urged the government to learn from the failed U.S.-Ukraine minerals agreement, warning against the dangers of overly dependent partnerships.

Chamber Executive Director Ronald Recidoro pointed to former U.S. President Donald Trump’s attempt to secure exclusive access to Ukraine’s mineral reserves as a cautionary tale.

Trump had reportedly made this a precondition for continued U.S. defense support against Russia—a deal that ultimately collapsed amid political turmoil in Washington.

“The recent, albeit botched, U.S.-Ukraine minerals deal offers a cautionary tale for the Philippines as we navigate our own critical minerals strategy,” Recidoro said.

He noted that securing U.S. access to critical minerals could become a condition for trade and development aid, as seen in Washington’s decision to pause all aid to Ukraine after the deal fell through.

“As global demand for minerals like nickel and cobalt intensifies, the Philippines must be cautious of foreign offers claiming to help us ‘better understand’ our own mineral reserves,” Recidoro warned. “The U.S. will always prioritize its own supply chains, and we should expect many onerous strings attached to any future aid or assistance they propose.”

Recidoro said the Trump administration might adopt a similar strategy towards the Philippines given the country’s reliance on American security support.

“Instead of tying ourselves to a single partner, the Philippines should open its doors to all comers—particularly Europe, Canada, and Australia—leveraging our resource wealth for the best possible deal,” he said.

Source: Bilyonaryo

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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