Canadian firms eye PHP 124 billion Philippine investments

VANCOUVER, Canada — Canadian companies have presented more than PHP 124 billion, or USD 2.2 billion, in prospective investments in the Philippines’ mining, critical minerals, and energy sectors during a high-level roundtable led by President Ferdinand R. Marcos Jr.

The meeting was joined by Trade and Industry Secretary Cristina A. Roque and other Cabinet officials as the government sought to attract projects that could expand mineral processing, strengthen energy security, create jobs, and support industrial development.

The seven Canadian firms collectively represent about CAD 29.5 billion, or USD 20.7 billion, in market capitalization and about USD 2.2 billion in existing investments in the Philippines.

The largest proposal came from OceanaGold, which presented a USD 75 million investment program for 2026 and projected USD 1.958 billion in cumulative investments for its Philippine operations through 2037.

B2Gold also announced a USD 13.9 million expansion of its Masbate Gold Project.

The expansion includes additional mineral exploration and the expansion of a 10-megawatt solar power facility.

CVMR Corporation proposed modular nickel refineries worth about USD 175.3 million per module.

The proposed refineries are intended to process locally mined nickel into battery-grade materials, generate jobs, and support downstream manufacturing.

Emergent Waste Solutions presented waste-to-value facilities requiring more than USD 60 million in investment per plant.

The company also offered technology transfer, workforce training, and local supply chain opportunities.

AtkinsRéalis shared its expertise in civil nuclear technology to support the Philippines’ long-term clean energy goals.

Electra Batteries and Hatch Ltd. explored partnerships to strengthen the country’s critical minerals value chain, battery materials industry, and industrial infrastructure.

In her opening remarks, Roque said the Philippines is ready to work with Canadian companies across the mining and critical minerals value chain.

She also cited the Marcos administration’s efforts to improve the country’s investment climate through policy reforms while keeping resource development responsible, sustainable, and beneficial to host communities.

“Through the CREATE MORE Act, the Public-Private Partnership Code, and the Green Lanes for Strategic Investments, we are creating a more competitive and predictable environment for investors. As we unlock opportunities in mining, critical minerals, and clean energy, we remain firmly committed to responsible resource development anchored on environmental stewardship, strong governance, and meaningful community engagement to achieve long-term, inclusive growth,” she added.

The investment discussions come as the Philippines intensifies efforts to move beyond raw mineral exports and build more domestic processing capacity in critical minerals and rare earths.

In February 2026, the Philippines and the United States signed a memorandum of understanding to support stable and resilient critical minerals supply chains, domestic value addition, and local processing capacity.

The Board of Investments said in April 2026 that 244 projects worth PHP 6.43 trillion had received Green Lane certification as of March 2026, reflecting the government’s push to speed up permits for strategic investments.

The roundtable forms part of the government’s broader investment promotion campaign to position the Philippines as a preferred destination for critical minerals, clean energy, advanced manufacturing, and other high-growth industries.