Indonesian firms urged to invest in PH mining

THE Department of Trade and Industry (DTI) has urged investors in Indonesia to consider the Philippines' mining and green metals processing industries.

In a presentation at the Indonesia Nickel and Cobalt and EV Conference held last June 11 to 13, the DTI's Philippine Trade and Investment Center (PTIC) in Jakarta discussed and vouched for the Philippines' Green Metals Initiative, the country's standing policy on critical minerals processing.

Commercial attaché Jeremiah Reyes of PTIC Jakarta said in a statement on Friday that various Indonesian industry representatives expressed interest in exploring mining and processing opportunities in the Philippines during their meeting.

«The Philippines is leveraging its reserves of green metals to establish itself as a significant player in the transition toward a clean economy,» he said.

Jeremiah also said that this was in line with the DTI's approach to positioning the country as a regional hub for sustainable and innovative manufacturing.

The country's nickel ore is exported to China, Japan, South Korea and Indonesia, with China getting 98 percent of the total or 17.6 million dry metric tons in 2023, data from the Mines and Geosciences Bureau (MGB) showed.

Earlier this year, Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go said that creating a whole value chain for the nickel industry in the Philippines would increase the value of mineral exports by 10 times.

He said that instead of focusing on the exploration or exploitation of minerals, the Philippines should attract investments for downstream processing in the mining industry.

Go also said that the Philippines was now among the largest exporters of raw nickel ore to the world and supposedly had the largest copper deposit mine.

The MGB report showed that the country's metallic mineral production value sustained growth and rose by 4.79 percent in 2023. Its value increased to P249.05 billion from the P237.66 billion logged in 2022 due to the outstanding performance of gold and nickel.

Citing results of the United States Geological Survey, the DTI said that the Philippines was the second-largest producer of mined