The Philippines has secured a significant influx of critical-mineral and energy-security investment pledges from Canadian companies, totaling approximately P124 billion, according to the Department of Trade and Industry (DTI).
The pledges were made by seven Canadian firms, as announced in a statement by the DTI on Thursday. Trade Secretary Maria Cristina A. Roque emphasized the Philippines' readiness to partner with Canadian companies to strengthen the country's value chain for critical minerals.
Secretary Roque reiterated the government's commitment to responsible resource development, anchored on environmental stewardship, strong governance, and meaningful community engagement to achieve long-term, inclusive growth. She stated, "As we unlock opportunities in mining, critical minerals, and clean energy, we remain firmly committed to responsible resource development."
OceanaGold Corp. has committed to a $75-million investment program for 2026, with a projected cumulative investment of $1.9 billion in the Philippines through 2037. This investment is expected to significantly boost the country's mining sector.
B2Gold Corp. is planning a $13.9-million expansion for its Masbate gold project, which includes additional mineral exploration and the expansion of a 10-megawatt solar power facility. This expansion aims to increase the project's efficiency and reduce its environmental impact.
CVMR Corp. has proposed the construction of modular nickel refineries, each worth approximately $175.3 million. These facilities will process domestically mined nickel into battery-grade materials, supporting downstream manufacturing and generating direct jobs.
Waste management firm Emergent Waste Solutions plans to build waste-to-value facilities, requiring more than $60 million in investment per plant. These facilities will help reduce waste and generate revenue from previously discarded materials.
AtkinsRéalis has offered its expertise in civil nuclear technology, which it believes can help the Philippines achieve its clean-energy goals. Electra Batteries and Hatch Ltd. are exploring partnerships to strengthen the critical-minerals value chain, the production of battery materials, and industrial infrastructure.
A Philippine delegation visited Canada from July 1-4, marking a significant milestone in the country's efforts to attract foreign investment. President Ferdinand R. Marcos, Jr. earlier this week announced that business engagements with Canadian firms generated $2.5 billion in planned investments across various industries.
