Key industry associations have voiced strong support for the reconciled version of the mining fiscal reform bill recently finalized by the Bicameral Conference Committee, citing its balanced approach to taxation and investment incentives.
The Chamber of Mines of the Philippines (COMP) lauded the proposed shift to a tax regime based on profit margins and windfall earnings, calling it a “progressive and responsive” framework. COMP chairman Michael Toledo said the bill would allow the government to capture more revenue during commodity booms while safeguarding the industry during downturns.
“Toledo noted the removal of the raw ore export ban as a ‘realistic’ move that reflects current economic conditions,” COMP said in a statement Wednesday. The group expressed optimism that President Ferdinand Marcos Jr. would soon sign the bill into law.
Meanwhile, the Philippine Nickel Industry Association (PNIA) echoed support, particularly for the removal of the raw ore export ban. PNIA described the decision as “prudent and forward-looking,” helping preserve jobs and investor confidence.
Both COMP and PNIA acknowledged the need for a “calibrated” increase in mining taxes to ensure equitable public benefit. However, PNIA stressed that building a robust mineral processing sector would require resolving long-standing infrastructure and regulatory hurdles beyond legislative mandates.
The revised bill is seen as a key component in enhancing the Philippines’ role in the global clean energy supply chain while promoting inclusive regional development and attracting sustainable mining investments.
