Senator Joseph Victor “JV” Ejercito has lauded the signing into law of Republic Act No. 12253 or the Enhanced Fiscal Regime for Large-Scale Metallic Mining Act saying this will help generate income for the government but at the same time preserve and protect the country’s environment.

“With this law, we harness the potential of our mining sector and turn our mineral wealth into national wealth,” said Ejercito, who attended the ceremonial signing in Malacañang.

“We make sure that mining works for the people, protects our environment, and fuels our national development,” he said.

Ejercito, sponsor and principal author of the measure, assured that the new law strikes a balance between economic growth, environmental protection, and social welfare.

RA No. 12253 primarily modernizes and streamlines the country’s mining tax system by putting all large-scale metallic mining companies under one clear and fair tax regime. 

The senator said the reform is expected to generate an additional P6 billion in revenues annually.

“This can be used to fund high-impact projects like infrastructures, and of course, the Universal Health Care,” Ejercito said.

The new law also ensures faster release of the rightful share of mining taxes and royalties to local government units (LGUs). 

With quicker access to these funds, LGUs can implement more projects and services that directly benefit their communities.

And even though the proposed five-year moratorium on the export of locally-extracted minerals was not adopted in the final version, Ejercito said he will push for it in the next Congress.