Mining industry vital for energy shift — group

MANILA, Philippines — Chamber of Mines President and CEO Mike Toledo said the mining industry plays a key role in combating climate change, citing the need for transition minerals in the shift to clean energy.

In a broadcast interview on Wednesday, March 5, Toledo described the mining industry as the “most indispensable industry” in fighting climate change. 

“You need nickel, you need copper, and you need the other rare minerals in order to come up with solar panels, batteries, electronic vehicles,” he told Bilyonaryo News Channel. 

Toledo said the Philippine Mining Act of 1995 reflects some of the world's best mining practices, adding that sustainable mining means exceeding legal requirements.

“But at the end of the day, for as long as it is sustainable, it is responsible, and then it is done in due recognition of the areas where we operate, then mining must be allowed to flourish,” he added. 

Toledo also lauded the Department of Environment and Natural Resources (DENR) for requiring mining firms to align their Social Development Management Programs (SDMP) with the United Nations Sustainable Development Goals (SDGs).

“SDMP is a requirement under the law which requires mining companies to spend 1.5% of their operating costs on projects under the SDMP program,” he said. 

Toledo explained that mining firms must work with local governments to identify infrastructure, livelihood, education and health needs. This could include building roads, clinics, schools and hospitals.

According to him, mining companies are “committed” to meeting the sustainable mining requirements. 

Toledo noted that with rising gold demand, mining firms should receive permits on time to ensure mineral extraction.

The latest United States Geological Survey shows that the Philippines is the second-largest nickel producer in the world, while the fifth-largest cobalt producer globally in 2024. The country also leads in copper production.