PHL signs P124B in Canada energy, critical-mineral investment pledges

THE PHILIPPINES took in about P124 billion in critical- mineral and energy-security investment pledges from Canadian companies, the Department of Trade and Industry (DTI) said.

The pledges were made by seven Canadian firms, the DTI said in a statement on Thursday.

Trade Secretary Maria Cristina A. Roque said the Philippines is ready to partner with Canadian companies to strengthen the country’s value chain for critical minerals.

“As we unlock opportunities in mining, critical minerals, and clean energy, we remain firmly committed to responsible resource development anchored on environmental stewardship, strong governance, and meaningful community engagement to achieve long-term, inclusive growth,” she was quoted as saying.

OceanaGold Corp. committed to a $75-million investment program for 2026 and a projected $1.9 billion in cumulative investments for the Philippines through 2037.

B2Gold Corp. is planning a $13.9-million expansion for its Masbate gold project, including additional mineral exploration and the expansion of a 10-megawatt solar power facility.

CVMR Corp. proposed modular nickel refineries worth about $175.3 million per module to process domestically mined nickel into battery-grade materials. This will help support downstream manufacturing and generate direct jobs, the DTI said.

Waste management firm Emergent Waste Solutions also disclosed plans to build waste-to-value facilities, which would require more than $60 million in investment per plant.

AtkinsRéalis pitched its expertise in civil nuclear technology, which it said can help the Philippines achieve its clean-energy goals, while Electra Batteries and Hatch Ltd. explored partnerships to strengthen the critical-minerals value chain, the production of battery materials, and industrial infrastructure.

A Philippine delegation visited Canada on July 1-4.

Earlier this week, President Ferdinand R. Marcos, Jr. said business engagements with Canadian firms generated $2.5 billion (around P154 billion) in planned investments across the mining, critical minerals, energy, services and information technology-business process management industries. — Beatriz Marie D. Cruz