Date of Publication: 9 September 2026
President Ferdinand R. Marcos, Jr. signed on 18 August 2026 Executive Order No. 122 (EO 122) establishing a National Policy Framework for Developing the Critical Minerals Industry and reorganizing the Mining Industry Coordinating Council (MICC). The order came roughly a year after Republic Act No. 12253, the Enhanced Fiscal Regime for Large-Scale Metallic Mining Act, rewrote the tax rules for large-scale metallic mining. Together, the two measures give the Philippines its clearest statement yet of how it intends to compete for critical minerals investment, raising a fresh set of questions for companies already operating here, and for those still deciding whether to enter.
The Chamber of Mines of the Philippines has publicly welcomed EO 122, citing the need for “a predictable environment that builds investor confidence.” Whether that confidence is warranted will depend on how quickly, and how faithfully, the implementing details come together over the next twelve months.
Why the government is moving now
The order’s rationale is straightforward: the Philippines has identified at least nine million hectares of prospective ground with critical mineral potential, and the government does not want that potential captured elsewhere in the global supply chain. EO 122’s framework is tied directly to the clean energy transition, digital infrastructure, and the Philippine Development Plan 2023–2028 and 2026 Strategic Investment Priority Plan, both of which flag domestic processing and value-adding as national priorities. In short, this is less about attracting new exploration on its own than about capturing more of the value chain and moving the country up from ore exporter toward processor and manufacturer of batteries, electronic components, and renewable energy inputs.
Four guiding principles, one underlying message
EO 122 is framed around four principles: State ownership and control of mineral resources (with all critical mineral projects treated as national priority projects and their proponents as contractors of the State); economic development through critical minerals and downstream industries; environmental protection and social and cultural development aligned with the UN Sustainable Development Goals; and notably for investors, policy stability and enabling mechanisms for private sector participation, including a State commitment to honor validly executed agreements and ensure regulatory consistency.
A reorganized, more powerful MICC
The Mining Industry Coordinating Council (MICC), originally constituted under EO No. 79 (s. 2012), is reorganized to be co-chaired by the Department of Environment and Natural Resources and the Department of Finance, with the Department of Economy, Planning, and Development (DEPDev) serving as Secretariat, and membership expanded to include the Department of Justice, the Department of Science and Technology, the Department of Budget and Management, the Department of Trade and Industry, the Department of Interior and Local Government, the Department of Labor and Employment, the National Commission on Indigenous Peoples, and the Union of Local Authorities of the Philippines.
Beyond its original oversight role, the reorganized MICC must submit a comprehensive Critical Minerals Industry work plan to the Office of the President within 90 days, assess existing mining laws and agreements for regulatory gaps, formulate ESG-consistent sourcing standards, evaluate the feasibility of a national valuation framework for Free, Prior and Informed Consent (FPIC) negotiations, and report annually on reserves, production, and consumption forecasts.
Where the new opportunities sit
Three provisions open doors for new and expanding capital:
• Accelerated privatization of government-owned mining assets (Section 5): The Privatization and Management Office, working with DENR-MGB, is directed to speed up the disposition of all government-owned critical mineral mining assets.
• New mineral reservations (Section 6): Areas covered by cancelled, expired, relinquished, or surrendered tenements may be declared critical mineral reservations by presidential proclamation, then disposed of through DENR-MGB under forthcoming guidelines, effectively revitalizing stalled or abandoned claims.
• A streamlined, digitalized permitting process (Section 7): DENR-MGB must implement simultaneous (rather than sequential) processing, clear timelines, and an inter-agency monitoring committee within six months, and operationalize a fully integrated digital permitting platform within one year.
On the downstream side, Section 8 directs the DTI Board of Investments to establish a comprehensive strategy for value-added processing refining, battery and component manufacturing, energy and logistics side-industries. Section 9 adds a mandate for the DENR, DFA, DTI-BOI, and Department of Energy to pursue strategic international partnerships built on ESG-consistent sourcing standards.
Our Mining & Natural Resources Department and Energy Practice Group are closely monitoring the timelines set under EO 122 and the issuance of implementing rules. We are available to help clients assess tenement compliance exposure, structure privatization and acquisition transactions, and navigate the reorganized MICC and permitting process.