The Philippines has a unique opportunity to become a leader in the critical minerals or “green metals” market, Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo at the Indo-Pacific Business Forum (IPBF) Tuesday.
Rodolfo said green metals such as copper, nickel and cobalt are crucial for developing renewable energy technologies and electric vehicles (EVs), noting that extraction and processing should be sustainable to contribute to true decarbonization efforts.
“The Philippines is rich in nickel, particularly the type needed for batteries. Since Indonesia’s ban on nickel ore exports, the Philippines has become the world’s biggest exporter,” Rodolfo said.
Around 20 percent of the Philippines’ mined nickel is processed by a Japanese company into an intermediate product for battery production. However, 70 percent to 80 percent of the nickel ore remains unprocessed and exported to dominant battery-producing countries.
“The Indo-Pacific Economic Forum is discussing ways to increase the value of Philippine nickel by further processing it in an environmentally friendly way,” said Rodolfo, adding that the Philippines has the chance to be ‘green’ from the very beginning, as decarbonizing existing processes is more challenging.
The Philippine government is actively supporting the green metals industry. Over 90 percent of recent investments under the current administration are focused on renewable energy (RE).
“The Philippines is ready to ‘catch and play ball’ in the green metals industry. We have the resources, the government support, and the commitment to sustainable development,” Rodolfo said.
Incentives are available to help the private sector transition to cleaner energy sources.
The DTI, along with the Department of Finance (DOF), is offering attractive investment packages, including eligibility for 40 years of tax breaks for capital-intensive processing facilities.
The incentives aim to address energy costs and promote the adoption of appropriate technologies.
Rodolfo emphasized the importance of collaboration between government agencies, including the Department of Environment and Natural Resources (DENR) and local government units (LGUs), to streamline the permitting process.
The DTI is actively seeking partnerships to go beyond high-pressure acid leaching (HPAL) technology for cleaner processing methods.