PH to ban export of raw minerals as Senate passes landmark mining reform bill
February 05, 2025
A bill banning the export of raw minerals five years after its enactment is being pushed following the Senate’s passage of the Enhanced Fiscal Regime for Large-Scale Mining Act on third and final reading.
Senate Senior Deputy Majority Leader Joseph Victor “JV” Ejercito, who is the chair of the Sub-Committee and sponsor of the bill, said this move will boost local industries, create jobs, and increase the value of mineral production by encouraging domestic processing over raw material exports.
“Inaasahan natin na sa pagpasa ng panukalang batas na ito, mas mapapalakas natin ang ating uganayan sa pribadong sektor, mapapalago ang ating ekonomiya, at makakalikha tayo ng trabaho para sa ating mga kababayan,” Ejercito said.
Senate Bill No. 2826 has been identified as one of the Legislative-Executive Development Advisory Council (LEDAC) priority measures for the 19th Congress. The bill is now set to be transmitted to Malacañang for the President’s signature.
Ejercito emphasized its long-term benefits for the Philippine economy. “We are taking a bold step to ensure that the wealth from our natural resources stays in the country, benefiting Filipinos first before anyone else.”
“This bill will encourage investments in local mineral processing and industrial development,” he added.
Under the measure, several fiscal reforms are introduced including a windfall profit tax, revised royalty structures, and stricter tax regulations to ensure the government secures a fair share of mining revenues.
“Once the bill is passed, it is expected to generate an average of P6.26-billion in revenue,” Ejercito said, noting that in previous years, the country and its component local government units have earned an average of P43.4-billion per year.
“Alam po natin na marami pang reporma ang kailangan sa sektor ng pagmimina sa ating bansa para masiguro na kaya nating makipagsabayan, lalo na sa mga karatig-bansa natin sa rehiyon.”
Additionally, the bill mandates greater transparency and accountability in the mining industry to reinforce good governance practices in the sector.
With the passage of this bill, Ejercito noted that the Philippines moves toward a more self-sustaining and value-driven mining industry, ensuring that the country benefits fully from its rich natural resources.