Marcos signs law creating new fiscal regime for large-scale metallic mining

Resident Ferdinand R. Marcos Jr. has signed Republic Act No. 12253, also known as the Enhanced Fiscal Regime for Large-Scale Metallic Mining Act, describing it as a landmark reform that will ensure transparency, accountability, and a fairer share of revenues from the country’s mineral resources.

- By ARGYLL GEDUCOS

In a ceremony in Malacafiang on Thursday, Sept. 4, Marcos said the signing of RA 12253 sends a very clear and powerful message: “Progress shall never come at the cost of our people, nor our planet.”

“Together, let us build the mining industry that is transparent, accountable, and sustainable. One where our communities are empowered, our environment preserved, and our people are the ultimate beneficiaries of this progress,” he said in his speech.

According to the President, the new law would strengthen the mining industry and ensure that the benefits of the country’s resources would benefit ordinary Filipinos.

“Mas magiging simple ang pamamalakad at paggamit sa pondo na mula sa pagmimina, matitiyak na may bahagi ang pamahalaan sa kita, maitataguyod ang malinaw at tapat na sistema, at maibibigay ang seguridad samga mamumuhunan (The management and use of mining revenues will be simplified, the government’s share will be secured, a clear and honest system will be established, and investors will be given certainty),” he said.