Philippines Senate Approves Ban on Raw Ore Exports to Boost High-Value Goods Industry

Published: Feb 10, 2025 15:29

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[Philippine Senate Approves Ban on Raw Ore Exports to Promote High-Value Goods Development] According to a bill approved during the Senate reading on Monday, February 3, 2025, the country will impose a ban on the export of mineral raw materials. The prohibition of critical mineral exports is not unique to Indonesia; it is a global trend. According to the Organisation for Economic Co-operation and Development, from 2009 to 2020, approximately 53 countries implemented export bans on critical minerals. Taking Indonesia as an example, data cited by the Indonesian Chamber of Commerce and Industry shows that the country's nickel ore export value increased from $1.1 billion before the nickel ore export ban in 2014 to $20.9 billion in 2021. Escudero stated that once the law is enacted, the government will make every effort to assist industry participants in establishing their own mineral processing plants during the transition period, which is crucial. The Philippines is one of the world's largest nickel ore producers, with a production of 35.14 million mt in 2023.

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