The Philippines has surged to 16th place in the Fraser Institute’s 2024 Annual Survey of Mining Companies, a dramatic leap from 72nd out of 86 jurisdictions in 2023 in the Investment Attractiveness Index.
In the Policy Perception Index, the country also climbed to 25th out of 82 jurisdictions, improving significantly from 79th place the previous year. For the Best Practices Mineral Potential Index, the Philippines now ranks 9th out of 58, up from 41st in 2023.
The Chamber of Mines of the Philippines (COMP) hailed this performance as a major achievement, citing significant governance and policy reforms that contributed to the leap in rankings.
The Fraser Survey is a global benchmark that measures how attractive jurisdictions are for mining investment, based on perceptions of policy, governance, and mineral potential. It is widely used by investors and companies to guide exploration and investment decisions.
“The Philippines just surged to 16th place in the latest Fraser Institute Annual Survey of Mining Companies, a massive leap from 72nd out of 86 jurisdictions just last year. This dramatic improvement in our investment attractiveness ranking shows that steady reforms under the Marcos administration are paying off, especially in creating greater policy stability and making it easier to do business (EODB) for responsible miners,” COMP said.
This approach involves the cooperation of the Anti-Red Tape Authority, Department of Finance, Department of Trade and Industry, Department of Environment and Natural Resources, Mines and Geosciences Bureau, National Commission on Indigenous Peoples and the Office of the Special Assistant to the President for Investment and Economic Affairs.
“Even better, the forthcoming Mining Fiscal Regime Bill promises to lock in even more predictability and strengthen the Philippines’ reputation as a reliable destination for long-term mineral investments,” it said.
President Ferdinand R. Marcos Jr. has consistently promoted responsible mining as a catalyst for rural development and the clean energy transition.
In a further update, COMP Chairman Atty. Mike Toledo welcomed the passage of the Mining Fiscal Regime Bill through the Bicameral Conference Committee, calling it a landmark step toward modernizing mineral taxation and improving regulatory clarity.
“The mining sector moves forward. The Bicameral Conference Committee has approved the new Mining Fiscal Regime Bill, a landmark development that modernizes how we tax and regulate one of the Philippines’ most critical industries,” Toledo said.
“As chairman of the Chamber of Mines of the Philippines and COO of Silangan Mindanao Mining Company Inc., I welcome this long-overdue breakthrough. After years of deliberation, we now have a fiscal regime that is forward-looking, investment-friendly, and aligned with global standards.”
Toledo added that the provision imposing an ore export ban was removed — a move that affirms the value of engagement between policymakers and industry in crafting pragmatic and growth-enabling legislation.
The consolidated bill was submitted to the Presidential Legislative Liaison Office, Office of the President (PLLO-OP) on July 31, 2025.
About the Fraser Institute’s Mining Survey
The Fraser Institute’s Annual Survey of Mining Companies is a globally recognized standard that assesses how political and policy factors affect mining investment attractiveness across jurisdictions.
The 2024 survey was sent to 2,289 exploration, development, and mining companies worldwide and conducted from August 7 to December 15, 2024. Results were based on industry responses and evaluated how public policy factors — such as taxation, permitting, and land access — either encourage or deter mining investment.
The Fraser Institute, based in Canada, is an independent public policy think tank conducting research and advocacy on economic and policy issues globally.
