CHIZ:  NICKEL ASIA, DMCI JOINT VENTURE TO BOOST MINING INDUSTRY, HELP POSITION PH AS A GLOBAL PLAYER

SENATE President Francis “Chiz” G. Escudero on Thursday (March 6) welcomed the announcement of a joint venture (JV) between Nickel Asia Corporation and DMCI Mining Corporation to develop a nickel processing plant in the country, calling the partnership a “monumental stride” in adding greater value to mineral resources obtained from the Philippines.

The Senate leader, a staunch advocate of sustainable mining, said the collaboration is a significant step toward advancing the country’s mineral processing industry, fueling the sector’s growth, and strengthening efforts to position the Philippines as key global player. 

“This partnership is a monumental stride in our journey to add greater value to our mineral resources,” he said.

“Not only does this align perfectly with our vision of reducing raw mineral exports, but it also paves the way for economic growth and job generation for our people,” the veteran legislator added. 

This development comes after the approval of Senate Bill No. 2826, or the Enhanced Fiscal Regime for Large-Scale Metallic Mining bill, on third and final reading last month.

The Senate leader introduced amendments to SB 2826, emphasizing its importance in reshaping the regulatory landscape of the mining industry.

The bill amends the National Internal Revenue Code of 1997 and prohibits the export of locally extracted raw minerals.

Under the proposed legislation, this would take effect five years after it is signed into law. 

Senate President Escudero expressed optimism that the joint venture between Nickel Asia and DMCI Mining would complement the objectives of SB 2826, as he noted that the partnership demonstrates the industry’s willingness to invest in local mineral processing to strengthen the country’s position as a key player in the global mining sector.

“Initiatives like this will empower us to harness our natural resources responsibly and sustainably while unlocking immense potential for the Filipino people and local economy,” he said.