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MANILA, Philippines — President Ferdinand Marcos Jr.’s executive order (EO) setting a framework to develop the critical minerals sector amounts to a “wholesale surrender” of the country’s ore wealth to foreigners, ACT Teachers Rep. Antonio Tinio said on Sunday.
In a statement, Tinio said EO No. 122 will lead to a “massive displacement” of farmers and indigenous populations and could bind the Philippines as a mere supplier of raw minerals and materials for foreign economies.
“Despite its lofty language of industrialization and value-adding, the reality is that EO 122 reduces the Philippines to a source of cheap raw minerals for the global green technology value chain, while our people bear the brunt of environmental destruction and displacement,” said Tinio, an opposition lawmaker and the lower chamber’s deputy minority leader.
Marcos directed the government to pursue the exploration, development, processing and utilization of critical minerals while encouraging investments in higher-value products used in advanced manufacturing, renewable energy, batteries and electronics.
