The situation, in brief
Rising international prices for gold and copper are driving significant gains in the Philippine mining sector, pushing the industry’s contribution to gross domestic product past 1% in the first quarter of 2024, even without the opening of major new mining operations under the Marcos…
Rising international prices for gold and copper are driving significant gains in the Philippine mining sector, pushing the industry’s contribution to gross domestic product past 1% in the first quarter of 2024, even without the opening of major new mining operations under the Marcos administration, Assistant Secretary Michael Cabalda said Saturday.
Cabalda made the statement in an interview on DZRH News program Special on Saturday on August 15, as part of the DZRH SONA 2026 Series featuring the Department of Environment and Natural Resources (DENR).
He said the mining sector’s GDP contribution has been rising steadily, driven primarily by the higher value of metals being extracted from existing operations rather than an increase in the volume of new mines being opened.
“Tumataas nang tumataas, in fact ‘yung ating contribution sa GDP sa first quarter ng 2024 has gone beyond 1% already. So that to me is what this administration is giving,” Cabalda said.
He said this means that previously uneconomical deposits — materials once considered waste — can now be profitably extracted given current metal prices, allowing existing operations to expand their yield without opening entirely new mining sites.
“Pwede mo nang minahin ‘yung dating tinatawag nating waste,” Cabalda said, describing the phenomenon as brownfield expansion within existing mining areas rather than new greenfield operations.
He said the Marcos administration has supported the mining sector’s sustainable development, with responsible mining and environmental rehabilitation now deeply embedded in how legal mining companies operate.
Cabalda said the Philippines has barely scratched the surface of its mineral wealth, with only about 2.65% of an estimated 9 million hectares of mineral-bearing land currently under operation, leaving enormous long-term potential for the sector if managed responsibly.
