BOI sees potential growth in PH critical minerals industry after EO 122

The Board of Investments (BOI) expressed optimism that a new government policy framework for critical minerals will encourage investments and support the development of downstream processing industries in the Philippines.

BOI Industry Development Services Executive Director Ma. Corazon Halili-Dichosa said authorities are prioritizing the identification of critical mineral deposits needed for domestic processing following the issuance of Executive Order (EO) 122.

"We do not have a target in terms of projects, but in terms of identification of critical minerals, that's what we want," Dichosa said in an interview on the sidelines of the 4th ASEAN Investments Forum in Makati City on Tuesday.

According to a Philippine News Agency report, EO 122 directs the Mines and Geosciences Bureau (MGB) to lead efforts to identify new deposits of critical minerals, which are considered essential for clean energy technologies, advanced manufacturing, digital infrastructure and other strategic industries.

Dichosa said the BOI has yet to receive applications for critical minerals projects but expects the policy to attract more investment into the sector.

She added that projects involving critical minerals will be treated as government-priority undertakings, allowing for faster processing of permits and licenses once implementing rules are in place.

The MGB is expected to identify critical mineral reserves and issue guidelines governing the implementation of the new framework, including streamlined approval processes.

The policy aims to strengthen the country's position in the global green technology supply chain by promoting local processing of minerals instead of exporting raw materials, the Philippine News Agency reported.

Government data show that prospective areas for critical minerals cover at least 9 million hectares nationwide, while the value of the country's commercially recoverable gold, copper, nickel and chromite reserves reached P588.12 billion in 2025.

Paraluman News from a report of Joann Santiago-Villanueva/Philippine News Agency