Department of Finance | August 25, 2026

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

Signed by President Ferdinand R. Marcos Jr. on August 21, EO 122 directs the government to promote value-added processing and downstream industries, enhance investments and competitiveness, streamline government processes, and uphold responsible and sustainable mining practices.

Investment czar and Finance Secretary Frederick D. Go said EO 122 sets the stage for the Philippines to move beyond raw mineral extraction and exports, and capture greater 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,” Secretary Frederick Go said.

At the center of the framework is the development of a competitive domestic critical minerals value chain. The Department of Trade and Industry–Board of Investments (DTI-BOI), in coordination with the Department of Environment and Natural Resources (DENR), is directed to promote investments in critical mineral refining, advanced materials processing, and the manufacture of batteries, electronic components, renewable energy technologies, and other downstream products.

EO 122 also provides for the development of side-stream industries, including energy, water supply, transport and logistics, as well as critical mineral recovery and recycling.

The framework further calls for the proper and sustainable development of critical mineral resources, including the strict implementation of the “Use It or Lose It” policy for critical minerals mining tenements and the accelerated disposition and privatization of government-owned critical mineral mining assets through the Privatization and Management Office (PMO).

In addition, EO 122 strengthens inter-agency coordination by designating the Secretary of Finance and Secretary of Environment and Natural Resources as co-chairpersons of the Mining Industry Coordinating Council (MICC). The Council will help align government policies and programs toward the responsible and strategic development of the mining and critical minerals 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,” Secretary Frederick Go said.

The Philippines’ national mining policy framework comes as global demand for critical minerals continues to rise, driven by the energy transition and the expansion of industries such as electric vehicles, renewable energy, electronics, digital technologies, and advanced manufacturing. As one of the world’s major nickel producers, with significant deposits of copper, cobalt, and other critical minerals, the Philippines is well positioned to capture a larger share of these growing value chains.

EO 122 complements the government’s broader efforts to strengthen the country’s investment climate, and marks a significant step toward building a value-adding critical minerals industry that attracts investments, creates jobs, supports industrialization, and contributes to long-term economic development.

Source: Dept. of Finance