What is the Mining Industry of the Philippines?

The Mining Act of 1995 allows for foreign ownership of mining assets and exploration permits. The Supreme Court upheld the constitutionality of the foreign investors’ participation in mining activities in 2004. The Philippine mining industry is promoting the passage of a rational and competitive mining fiscal regime that gives the government a fair share in mining revenues. It would allow for inclusive growth in host communities, and give investors security and allows them a fair and reasonable return on their investments. The mining tax is low at 2%From 2011 to 2013, the mining sector committed to reforest about 34,000 hectares, under the National Greening Program. By December 2015, more than 47,000 hectares have been reforested. for metallic and non-metallic minerals. The Government has proposed to significantly raise taxes on the mining industry, and with national elections to be held in May 2016, the industry is waiting to see what the next administration’s policy will be when it comes to minerals development.

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