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MANILA, Philippines — President Ferdinand R. Marcos Jr. on Friday assured the public that foreign investors cannot exploit Philippine minerals without the government’s approval, amid concerns surrounding the Pax Silica project.
According to Marcos, the project could enable the Philippines to process its minerals locally instead of exporting them as raw ore.
READ: Pax Silica faces costly power, water and land trade-offs
“For example, nickel, let us say. The Philippines is the second largest reserve of nickel in the world. Right now, all that we are doing is we are exporting raw ore. And that is – then it is processed somewhere else,” he said during the Foreign Correspondents Association of the Philippines Presidential Luncheon.
