Withdrawal of raw ore export ban proposal brings relief to miners

INQUIRER FILE PHOTO

MANILA, Philippines — Mining groups Chamber of Mines of the Philippines (COMP) and the Philippine Nickel Industry Association (PNIA) welcome the removal of raw ore export ban provision in the mining fiscal reform bill, saying this will provide more revenues and encourage investments.

“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,” COMP chair Michael Toledo said in a statement.

“This is a prudent and forward-looking step that protects jobs, upholds investor confidence and reflects a more realistic understanding of the challenges surrounding domestic mineral processing,” PNIA said in a separate statement.

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COMP said dropping the raw ore export ban was a “win-win” move. This was seen to ensure fairer and more sustainable government revenues while attracting local and foreign investments.

For its part, the PNIA reiterated its support for margins- and windfall profits-based tax structure, saying that having a fiscal predictability and economic rationality would spur long-term investments and foster a competitive and responsible mining industry.

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Realistic understanding

Toledo said the removal of the raw ore export ban “reflects a realistic understanding of the Philippine mining landscape—its policy context, infrastructure limitations and the technical nuances of our ore compared to other mineral-rich jurisdictions.”

COMP and the PNIA vowed to collaborate with the government to provide a meaningful contribution to economic growth and long-term industrial development.

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“However, the path to achieving this requires more than regulatory mandates. It demands the resolution of persistent structural issues such as high energy costs, weak infrastructure, policy uncertainty and permitting delays, which continue to deter large-scale investments in mineral processing,” PNIA said.

“Our members stand ready to contribute more meaningfully to national growth under a transparent, competitive and forward-looking policy environment,” Toledo said.