The Philippine Nickel Industry Association is urging the government to fast track the processing of mining permits through a “one-stop-shop” program similar to what was provided to support growth sectors, such as the energy sector.
“We are looking at a period of 6 months to 1 year,” he said, adding that at present, it takes about 15 to 20 years for a prospective mining project to start producing minerals or commercial production because of the numerous regulatory requirements and processes. Marcos earlier made it clear that the country needs the mining industry to achieve its growth target. In his official foreign visits, the President is encouraging businessmen to invest in the country, assuring of a business-friendly policy environment.
Bravo explained that while the government is focused on attracting investors in value-added processing, industry development efforts should include mining exploration and extraction because a nickel processing plant requires more than 100 million tons of raw nickel ore for at least 20 years to be considered viable.