Filipino-owned Philippine General Minerals Project, Inc. (PGMPI) has expressed keen interest to invest in the processing of critical minerals to support the Philippines' goal to become a major supplier of processed metals and participate in the huge global value chain for electric vehicles manufacturing.
Retired BGen Antonio R. Lastimado, PA, PGPMI head of operations, said in a statement that they have already met in April this year government officials including Trade and Industry Secretary Alfredo E. Pascual, DTI Undersecretary and Board of Investment Managing Head Ceferino S. Rodolfo, and officials of the Development Bank of the Philippines including DBP Director Maria Lourdes A. Arcenas and DBP President and CEO Michael O. de Jesus for initial discussions.
Lastimado said that DBP, through Director Arcenas, has been behind PGMPI since its inception during the Duterte Administration and explore possibilities on how DBP can assist PGMPI until the Covid-19 pandemic happened. The exchange of insights and perspectives during the meeting emphasized the importance of building trust, nurturing authentic partnerships, and to ensure the industry's sustained growth and success.
“These meetings served as platforms to seek guidance on how PGMPI can best support the government's vision and contribute to the growth of the Philippine processed metals and critical minerals industry,” said Lastimado.
The discussions with DTI officials and DBP emphasized the government's commitment to creating an enabling business environment that facilitates sustainable economic growth, he added.
The discussions revolved around strategies to leverage PGMPI's expertise and resources to contribute measures—innovation and attracting investments, aligning its efforts with the government's objectives.
PGMPI also impressed upon the government officials its dedication to responsible practices. It also highlighted the significance of responsible resource management, ethical business practices, and the need for stringent regulatory significantly to the nation's economic development.
PGMPI also highlighted its vision to establish economic stability through sustainable means.
Lastimando said the meeting demonstrates the collaborative approach adopted by all stakeholders involved. “This high-level engagement underscored the commitment of all parties involved in fostering synergy to drive the growth and development of the industry,” he said.
With Turkish and South Korean technical partners, PGPMI is already engaged in the rehabilitation of mine tailings in the country that are contaminated with mercury and cyanide, but the tailings still contain precious rate earth elements.
As an aspiring lead player in the Philippine processed metals and critical minerals industry, Lastimado said that PGPMI is committed to sustainable development and responsible practices. The company strives to position the Philippines as a major supplier of processed metals and critical minerals to advanced economies and industrial nations, driving economic growth and fostering global partnerships. PGMPI's unwavering dedication to integrity, innovation, and collaboration ensures a brighter future for the industry and the nation.
Following President Ferdinand Marcos, Jr.'s announcement in Davos, Switzerland, earlier this year, PGMPI has taken proactive steps to align its efforts with the government's program, showcasing its commitment to sustainable development and responsible practices.
“This vision aligns closely with the Philippine government’s program to promote industrialization and capitalize on the nation’s rich mineral reserves,” said Lastimado.