The Philippine mining sector is “greatly impacted” by geopolitical uncertainty, among other top risks, according to the Mining and Minerals Industry Sector Leader of SGV.
The report noted that “The war in Ukraine has had an impact on the trade of minerals and metals, while increasing competition between China and the US, and newly elected governments in key mining markets, are affecting the long-term plans of miners.”
Meanwhile, environmental, social and governance remains the number one risk and opportunity in mining and metals, according to the survey respondents. Another risk that impacts the country’s mining sector is maintaining a license to operate , which dipped from third rank in 2022 to fourth, heading into 2023.
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