THE Chamber of Mines of the Philippines (COMP) is confident in its place as one of the country’s strongest drivers of the economy under the current policy direction of the Marcos administration.
This was stressed by COMP Chairman Michael Toledo, who predicted that mining could also contribute more to the country’s export earnings.
COMP represents the biggest players in the country’s mining industry.
Toledo’s confidence was strengthened by President Marcos’ presence during the kick-off ceremonies of the Mining Philippines 2025 Conference and Exhibition at the Grand Hyatt Manila on Wednesday.
Marcos was accompanied by Environment and Natural Resource Secretary Raphael Lotilla and was welcomed by Toledo at the Conference’s venue, where he also checked some of the exhibits before delivering his keynote speech.
‘At a time of global uncertainty-with economic headwinds, geopolitical tensions, and the mounting effects of climate change-the Philippines needs another strong pillar of growth,’ Toledo said in his welcome remark.
‘Mining once accounted for over 20 percent of our export earnings, and with the right support, it can do so again-maybe even more. Our industry is resilient and adaptable. And if we continue to operate responsibly, sustainably, and transparently, mining can once again become one of the strongest drivers of our economy,’ he stressed.
Speaking on behalf of the mining industry’s big players under COMP, Toledo said the renewed sense of energy and momentum in the country is strongly felt.
‘In just the past few years, we’ve seen real progress-the lifting of the moratorium on new projects, the removal of the open-pit ban, the ongoing efforts to simplify the permitting process and, most recently, the passage of a new fiscal regime for large-scale metallic mining.signed into law just last month by our most distinguished guest this morning,’ he said.
Toledo said such are not small steps, as they signal a real turning point in mining.
‘For years, we’ve said that responsible mining can be a partner in nation-building. Today, that belief is finally reflected in government policy and, we hope, in growing public understanding as we continue to earn the trust of our stakeholders,’ he said.
Nevertheless, Toledo said much more needs to be done, saying that the industry needs consistent rules, reliable infrastructure, and affordable energy, and better alignment between national and local policies, which he confidently said is recognized by the Marcos administration.
According to Toledo, getting it right can unlock billions in investments, create thousands of jobs, and uplift communities that need it most.
He expressed gratitude to Marcos for what he described as consistent support to the industry, citing the Philippines’ remarkable rise in the Fraser Institute’s 2024 Annual Survey of Mining Companies, which now ranked 16th in Investment Attractiveness from 72nd in 2023, and 25th in Policy Perception from 79th spot.
These improvements in ranking, he said, show how steady reforms are paying off. It sends a clear message: the Philippines is open for responsible, quality investment.
‘As President Marcos has said, mining is not a problem to avoid but an opportunity to embrace: to advance clean energy, drive sustainable development, and promote inclusive growth, all while protecting the environment,’ he said.