Mining industry backs fiscal reform bill, raw ore ban scrapping

Insider Spotlight:

• Chamber of Mines supports reconciled mining fiscal reform bill
• Proposal removes raw ore export ban, links taxes to profits
• Industry sees law as key to investment, clean energy push

The Chamber of Mines of the Philippines has endorsed the reconciled version of the mining fiscal regime reform bill, calling it a “progressive and responsive” framework that balances government revenue goals with industry viability.

Driving the news:

The Bicameral Conference Committee’s version of the bill proposes a shift to a profit- and windfall-based taxation structure, scrapping the controversial Senate provision that would have imposed a raw ore export ban.

“While a tax increase is inevitable, we believe this progressive and responsive approach allows the government to benefit more when global commodity prices rise, without placing undue burden on miners during market downturns,” said Atty. Michael Toledo, chair of the Chamber of Mines.

Why it matters:

The export ban’s removal reflects what the Chamber called “a realistic understanding” of Philippine mining’s operational and policy constraints. The country’s infrastructure limitations and the unique characteristics of local ore deposits make raw ore processing less viable at present.

Big picture:

Industry leaders view the bill as a step toward a more globally competitive and investor-friendly mining regime. The Chamber said the policy direction aligns with clean energy supply chain goals, given the sector’s role in providing critical minerals.

“This framework offers a win-win outcome,” Toledo said, highlighting benefits for government revenue, foreign investment, and regional development.

What’s next:

The Chamber urged President Marcos to sign the bill into law, vowing stronger support for national development under a “transparent, competitive, and forward-looking” policy framework.