Marcos renews call to pass mining bill

President Marcos renewed yesterday his call for the passage of a bill seeking to introduce a new fiscal regime for the mining industry, making the sector more sustainable and generate higher revenues for the government.

- HELEN FLORES

Marcos said the proposed Rationalization of the Mining Fiscal Regime is "fundamental to creating a fair and equitable mining environment for everyone involved."

"I urge all our dedicated agencies and esteemed members of Congress to support the Rationalization of the Mining Fiscal Regime," Marcos said during the 2023 Presidential Mineral Industry Environmental Award at Malacañang.

The House of Representatives passed its version of the bill in September last year. The measure is pending in the Senate.

The Rationalization of the Mining Fiscal Regime is one of the priority bills of the Marcos administration.

The bill proposes a revised fiscal regime, imposing a four-tier, margin-based royalty ranging from 1.5 percent to five percent on income from mining operations outside of mineral reservations.