way for becoming a major supplier of processed metals and critical minerals to advanced economies and industrial nations.
“The Philippines has vast mineral reserves containing rare earth elements with hidden properties that can make modern technology possible,” he said. He said PGMPI officials met with DBP director Maria Lourdes Arcenas and DBP president and chief executive Michael de Jesus in April 2023. The DBP, through Arcenas, has supported PGMPI since its inception during the Duterte administration and was ready to finance the project until the Covid-19 pandemic happened.
Parlade said the discussions also revolved around strategies to leverage PGMPI’s expertise and resources to contribute significantly to the nation’s economic development.