CAGAYAN DE ORO CITY (October 19) — The government is assessing potential sites in Surigao and the wider Caraga region for critical minerals processing and downstream industries, seeking to turn the area’s mineral wealth into higher-value investments, local jobs and broader economic benefits under a new national investment policy.
The initiative follows Executive Order (EO) No. 122, series of 2026, which tasks the Board of Investments (BOI) with promoting investments in critical minerals processing, refining, advanced materials and manufacturing.
On October 1, the BOI’s Cagayan de Oro and Davao Extension Offices convened government agencies, mining companies, local communities, academe and other stakeholders in Surigao for a forum on implementing the order and identifying investment opportunities in the region.
The discussions focused on shifting from raw ore exports toward domestic processing, refining and downstream manufacturing. Stakeholders also examined proposed policies on the Philippine Critical Minerals List, streamlined permitting, productive utilization of mineral areas, environmental, social and governance (ESG) standards, and greater private-sector participation.
The BOI’s mandate also covers supporting industries such as energy, water, transportation, logistics, mineral recovery and recycling, which are essential to building an integrated domestic critical minerals value chain.
The forum was followed on October 2 by a meeting between BOI representatives, the Mines and Geosciences Bureau (MGB) Regional Office XIII and mining companies to validate information on existing mining operations and identify potential sites for processing and related industries.
The discussions covered mineral feedstock availability, existing and planned processing facilities, infrastructure and utility requirements, logistics access, environmental and regulatory considerations, and possible partnerships with mining companies and prospective investors.
The information-gathering exercise is intended to guide the BOI’s investment promotion strategy under Section 8 of EO 122. Caraga’s mineral resource base and established mining operations could support downstream industries, while regional, provincial and company-level MGB data could help determine which locations are suitable for investment.
However, the information provided on the initiative does not identify specific investment commitments, proposed processing facilities, projected local employment figures or implementation timelines.
These gaps make public accountability essential as the investment strategy moves forward. The BOI and relevant government agencies should disclose which projects advance, how much investment they attract, how many local jobs they generate and what safeguards will protect communities and the environment. Local governments must also ensure that affected residents have access to project information and meaningful opportunities to participate in decisions affecting their livelihoods and surroundings.
The BOI said it would continue coordinating with the Department of Environment and Natural Resources-MGB, local government units, mining companies, technology providers and prospective investors to identify projects in critical minerals processing, advanced materials production, mineral recovery and recycling.
Ultimately, Caraga’s success should not be measured solely by the volume of minerals extracted or the number of investors attracted, but by the economic value retained in the region, decent jobs created for local residents and environmental protections enforced.
The BOI and local governments must make these outcomes measurable and publicly verifiable. Without transparent targets, regular reporting and enforceable safeguards, the promise of turning Surigao and Caraga’s mineral wealth into local prosperity risks remaining an investment pitch rather than delivering tangible benefits to communities.
