Mining industry critical to PH economy – DTI chief

Department of Trade and Industry (DTI) Secretary Fred Pascual emphasized the significant contribution of the mining industry in the country’s economy during his keynote message at the Mining Philippines International Conference and Exhibition held on 19 September 2023 at EDSA Shangri-La Hotel.

“First, let us be clear: Mining is not just an extraction process that leaves behind a barren landscape. It is a means of converting our natural resources into valuable assets that can power the engines of our economy, create jobs, and lay the foundation for infrastructural advancements that will benefit not just our generation but those to come,” Secretary Pascual said.

Further, he also discussed that the DTI is aggressively promoting the development of the green metals sector as a major contributor to the economy.

“As part of our commitment, the Department of Trade and Industry firmly pushes for the development of the green metals sector by advocating for value-added downstream mineral activities in the segment of battery precursor production used for electric vehicles (EV) batteries and Battery energy storage system (BESS),” he added.

The demand for green metals is currently high due to the ongoing transition to cleaner energy across the globe. Green metals such as cobalt, nickel, and lithium among others are set to witness a growing demand as nations adopt low-carbon technologies.

Secretary Pascual also underscored in his message the government’s initiatives to advance value-added activities that will increase the country’s participation in the regional and global value chains of EVs.

He likewise took the opportunity to invite potential investors to invest in the Philippines through several opportunities such as: (1) exploration of mineral resources; (2) green metals processing; (3) battery precursor production; and (4) end-user industries.

The Mining Philippines Conference and Exhibition gathered industry leaders, experts, and stakeholders to discuss the future of mining in the Philippines. In particular, participants of the conference exchanged views on ensuring sustainable mining practices and highlighted the critical role of the mining industry as a driver of economic growth.

Also present during the event were Canadian Ambassador David Hartman, Australian Ambassador HK Yu, Department of Environment and Natural Resources (DENR) Secretary Ma. Antonio Yulo-Loyzaga, Governor Dakila Carlo Cua, and the Chamber’s Board of Trustees for 2023.