The country’s mining sector is poised to drive green technologies and generate high-quality jobs once its full potential is unlocked, according to the National Economic and Development Authority (NEDA).
NEDA Secretary Arsenio M. Balisacan said that while the sector made a modest contribution to the country’s gross domestic product (GDP) in 2023, standing at 0.5 percent, there is significant room for growth.
The NEDA chief pointed out that only 0.17 percent of the country’s known mineral deposits have been developed for production.
Meanwhile, employment in mining and quarrying remains low, constituting only 0.45 percent of total employment.
Balisacan emphasized the Philippines’ strategic position with abundant reserves of minerals vital for producing green technologies such as solar PVs (photovoltaic cells), wind turbines, and electric vehicle batteries.
He suggested that tapping into global markets for these technologies and maximizing the value derived from mineral products can be achieved through further developing downstream metallic and non-metallic mineral processing to bolster the expansion of domestic manufacturing industries focused on green technologies.
“We expect the promising mining industry to support our manufacturing, infrastructure, and construction sectors, with spillovers to the broader economy through more and higher-quality jobs for all Filipinos, even as we work toward our climate change commitment,” he said.
