In our ever-evolving world, the demand for minerals and energy is growing faster than ever. From the smartphones in our pockets to the electricity powering our homes, these natural resources play a vital role in our everyday lives. But finding them—hidden deep underground or beneath the ocean floor—is no easy task.  

Fortunately, science and technology are giving us powerful new tools to make searching easier, safer, and more accurate. Understanding new mineral and energy exploration techniques is important because the relatively easy-to-find resources—like oil, gold, and copper—are already being used up, and the world needs cleaner and smarter ways to discover what’s left. Old methods of exploration, like drilling everywhere or clearing forests, are expensive, slow, and often harmful to the environment. 

New technologies, like using satellites, artificial intelligence (AI), and sensors that “listen” to the ground, help scientists find resources faster, cheaper, and with less damage to nature. By learning how these new techniques work, we can support energy sources that are cleaner, protect the planet, and ensure we still have the minerals needed for things like electric cars, solar panels, and everyday gadgets in the future.  

Here is an overview of the latest technological trends in mineral and energy exploration—combining cutting‑edge research, practical implementations, and industry shifts. We'll explore some of the latest techniques scientists and engineers are using to discover new sources of minerals and energy. Don’t worry—no geology degree is required! This article will break it down in simple, easy-to-understand language so we can understand just how incredible and important these discoveries really are. 

AI-Powered Exploration, Smart Computers Find Hidden Treasures 

Recent research introduces workflows using AI to model copper prospectivity and refine targets. Presently, roughly more than 70% of mineral exploration projects leverage AI‑powered data analysis for site selection and resource estimation. Machine learning applied to remote sensing like integrating satellite, airborne, and geological data, has enhanced mapping of lithology, alteration zones, and pathfinder mineral signatures. 

Imagine you’re looking for buried treasure, but instead of digging randomly, you have a super-smart computer that can look at maps, satellite images, rock samples. and even underground sound waves to tell you exactly where to dig. That’s what AI is doing for mining, helping experts find metals like copper, lithium, and gold faster and more accurately. This technology saves millions of dollars and years of guessing because there are less random digging and more smarter decisions. 

Advanced Remote Sensing: Satellites, Drones as “Metal Detectors in the Sky” 

Today, scientists are using advanced hyperspectral satellite cameras that can see more than just colors; they can detect the unique "light fingerprints" that different minerals reflect. This helps spot what’s in the ground just by looking from space. Some high-tech companies are going even further. They’re launching small satellites, placing sensors on the ground, and using AI to collect and analyze data.  

Satellites in space and drones flying overhead are now like "robot eyes" scanning the Earth for clues about what’s underground. Satellites can see patterns in rocks that the human eye can’t. Drones fly low over the ground with special cameras and sensors that “sniff out” changes in rocks or soil. This technology allows explorers to scan vast areas quickly, especially in places that are hard to walk on like dense forests or deserts, useful even in difficult terrain and across larger areas.   

Listening Beneath the Ground with “Earth Stethoscopes” 

Imagine a drone that can take off and hover like a helicopter but then fly forward like an airplane. That’s what a hybrid multirotor unmanned aerial vehicle (UAV) does. It gives you the best of both worlds: the flexibility of hovering and the long-range power of flight. Hybrid multirotor UAVs with optimized sensors extend airborne operations up to six times longer than traditional drones, improving precision data collection while minimizing costs and environmental impact.  

By placing special sensors on the surface, explorers are also listening to tiny natural vibrations in the Earth —like a super-sensitive stethoscope — to create detailed 3D maps of what lies underground, even as deep as 2.5 kilometers without digging. Instead of drilling hundreds of holes to “see” underground, scientists now listen to tiny vibrations called ambient noise tomography. All of this helps explorers find mineral-rich areas more accurately and safely, while cutting down on the need for risky and expensive drilling. 

Tools That are Instant Rock Analyzers: On-the-Spot X-Rays 

When geologists collect rock samples, they used to wait days or weeks to analyze them in labs. Now, geologists can carry handheld devices—about the size of a power drill—that can scan rocks right on the spot. These tools use techniques like X-ray fluorescence (XRF) or laser-based scanning to instantly reveal the chemical makeup of the rock. In just a few seconds to a few minutes, the device tells you exactly what minerals or metals are inside—whether it’s copper, gold, lithium, or something else. It’s like a super-advanced metal detector that gives instant X-ray results. 

Think of these machines as a super-smart barcode scanner, but for rocks. Just like a grocery store scanner instantly tells you the price and details of a product, these scanners reveal what elements are inside the rock. This means faster decisions, less wasted drilling, and more precise resource estimates. 

Sustainable Practices & Resource Recycling: Mining “Junkyards” 

Old mines and heaps of mining waste were once considered useless. Now, with new technology, companies can go back and recover valuable metals left in old mine tailings. Exploration is increasingly seeking value in waste and tailings, repurposing old mines to extract critical metals like tellurium, bismuth, zinc, and manganese. It’s like rummaging through old electronics and finding out that old circuit boards are filled with precious metals or finding gold in an old junkyard - eco-friendly and cheaper than starting a new mine. 

Mining Under the Sea: Carefully Collecting “Seafloor Nuggets” 

At the bottom of the ocean, there are “potato-sized” lumps called polymetallic nodules that contain nickel, cobalt, and other valuable metals. New technology is being developed to allow controlled collection of these nodules without digging or destroying the seafloor. It’s like using robotic vacuum cleaners to gently pick up scattered coins from your carpet, without ripping the carpet up.  

This could be a game-changer for supplying metals for electric cars and renewable energy tech, but it’s being done cautiously to protect ocean ecosystems. Deep-sea mining is now under active development globally, with regulatory frameworks expected to be in place by 2025. Think of it like careful underwater treasure hunting with environmental guards in place. 

Tapping Into Earth’s Natural Heat: Hitting Two Birds with One Stone 

The Earth’s inside is super-hot. By drilling wells, we can tap into this heat to produce clean electricity called geothermal energy. But here’s the bonus - some of these underground hot waters carry dissolved minerals like lithium. New projects are combining the two: get clean energy and extract minerals from the hot water. It’s like getting two gifts from the Earth at the same time - energy and minerals, like boiling pasta and realizing you can also make soup from the water at the same time.  

Geothermal energy is expanding rapidly. Major tech companies and energy firms are investing in subsurface heat projects, but serious skill gaps exist in geoscience expertise, driving demand for trained exploration professionals. Filipino geologists who are renowned for their expertise in geothermal energy, can skillfully harness the Earth’s natural heat to power communities with precision and sustainability. Their deep understanding of volcanic and tectonic systems, combined with decades of hands-on experience, has positioned the Philippines as a global leader in geothermal exploration and development. 

Mines Becoming Smart, Automated Like Self-Driving Cars 

The mining sector is undergoing a digital revolution; automation, and integrated data analytics are being deployed broadly to enhance safety, productivity, and sustainability. Modern mines are starting to use robots, self-driving trucks, and smart sensors that monitor everything. All this information is sent to a control room where a small team watches everything like in a high-tech video game command center. This makes mining safer for workers and cuts down on mistakes and accidents. Real-time predictive maintenance, remote operations control, and cross-team data sharing are boosting operational effectiveness by a 20–30% reduction in exploration timelines and cost improvements. 

Industry is responding with technology-integrated, sustainable, and data-first approaches. From satellite mapping to automated analytics, these capabilities shorten discovery cycles, cut environmental impact, and strengthen resilience. There is less guesswork as technology tells you where to dig; greener, exploration is becoming cleaner and less harmful to forests, rivers, and wildlife; smarter as mining is done in ways that protect the environment; sustainable as old waste becomes valuable again through recycling; faster as years of trial-and-error digging are minimized; and cheaper as there is less wasted money on bad drilling spots. 

The Gold Rush of the Clean Energy Era: The Search for White Hydrogen 

Hydrogen is the lightest and most abundant element in the universe. It is found in water, natural gas, and even in plants and animals. But here’s the catch: hydrogen gas doesn’t float around freely on Earth. It’s usually stuck to other elements, like oxygen in water. We need hydrogen to power cars, factories, and power plants without polluting the air.  Planes and large ships could run on hydrogen in the future. Companies are working on hydrogen-powered engines or using hydrogen to make cleaner fuels for heavy industries. Hydrogen is a clean fuel. When you burn it, it only produces water vapor - no smoke, no CO₂ pollution. 

Exploring natural hydrogen could give us a cheaper and greener source of energy that’s available 24/7, unlike solar or wind which depend on weather. Scientists have discovered that pure hydrogen gas is naturally produced deep underground. This hydrogen can slowly seep up through cracks in the Earth, kind of like natural gas or oil. 

When certain types of rocks that are rich in iron deep in the Earth react with water, they produce hydrogen gas. This process happens in places like ancient volcanic areas, underneath old ocean floors, and tectonic plate boundaries. Like a treasure hunt under the earth, scientists use several clues to look for it. 

In some places, hydrogen gas seeps up naturally through the soil, kind of like tiny invisible “fountains.” Scientists use portable gas sniffers or take soil gas samples to detect these hydrogen leaks. Finding a seep can be a clue that a larger hydrogen pocket is hiding underground. Hydrogen often forms where certain types of iron-rich rocks called ophiolites react with underground water. Scientists study maps, satellite images, and rock samples to locate areas with these special rocks. 

Scientists use tools that send sound waves, electric currents, or magnetic signals into the ground. By seeing how these signals bounce back, they can “see” underground structures and guess where hydrogen might be trapped. If the clues are strong, companies drill small test wells to check if there’s enough hydrogen to be worth collecting. This is like how we explore oil or natural gas, but the wells for hydrogen are usually smaller and simpler. 

The Philippines is now at the early but exciting stage of exploring natural underground hydrogen resources, after a significant discovery in Zambales. In this area, scientists found a natural seep where hydrogen gas is leaking from beneath the ground at a remarkable rate—about 808 tons per year, which is considered one of the largest natural hydrogen flows ever recorded worldwide. This seep is found in an area rich with ophiolite rocks, which the country has plenty of because of its geological features. This discovery has put the Philippines on the global map as a potential key player in the emerging hydrogen energy sector. 

Recognizing this opportunity, the Department of Energy (DOE) has opened specific areas for hydrogen exploration in Zambales and Pangasinan, where similar rock formations exist. Several companies have submitted bids to explore these zones, and the DOE has been actively conducting preliminary surveys to assess the environment and geology. These early-stage activities include soil gas sampling, mapping seep sites, and preparing technical guidelines for future exploratory drilling. 

The DOE is also initiating training programs to equip Filipino scientists and engineers with the skills needed for hydrogen exploration, signaling a serious commitment to develop local expertise in this new field. 

While no large-scale hydrogen production is happening yet, the Philippines is moving swiftly to build a foundation for it. The next steps involve granting exploration permits, performing test drilling, and confirming whether larger underground reservoirs of hydrogen exist beneath the surface. If successful, this could lead to pilot projects that produce clean hydrogen for local energy use, particularly in off-grid rural areas.  

The exploration efforts in Zambales and Pangasinan are also seen as “test cases” that could open other ophiolite-rich regions in the Philippines, potentially making the country a pioneer in natural hydrogen energy development in Southeast Asia. Thanks to years of digging into ancient ophiolites, Filipino scientists may have just found the rocks that burp out clean hydrogen turning old ocean crust into tomorrow’s energy goldmine. 

Conclusion 

As the world races towards cleaner and more sustainable energy solutions, understanding and adopting new mineral and energy exploration techniques has never been more crucial. Innovations like AI-driven mineral mapping, drones that “see” underground, instant rock analyzers, and natural hydrogen exploration are revolutionizing how we discover and harness Earth’s resources.  

The Philippines has rugged terrain and extensive forest cover. AI-driven satellite imaging and drone-based surveys are increasingly useful for identifying mineralized zones without heavy ground disturbance. This helps reduce the environmental footprint of early-stage exploration.  

By adopting smarter targeting, Philippine mining firms can reduce the high risk and costs of exploration, making projects more attractive to investors, reducing the need for large-scale ground clearing during exploration, and helping address community and environmental opposition. This is important in a country where mining often sparks social resistance, as it could accelerate the development of critical mineral supply chains while improving the sector’s social acceptability. Who knew that listening to rocks and chasing steam could turn geologists into the hottest hunters of the 21st century? 

References 

Barker, Miranda, Innovation can disrupt the mining industry. These sustainable start-ups are leading the way, World Economic Forum, 29 Nov 2024, https://www.weforum.org/stories/2024/11/13-innovations-making-the-mining-and-metals-industry-more-sustainable/ 

Bishop, Sophie, 7 Technological Innovations Transforming the Mining Industry, USC Consulting Group, 12 February 2024, https://usccg.com/blog/7-technological-innovations-transforming-the-mining-industry/ 

Leonida, Carly, Welcome to the age of smart mineral exploration, The Intelligent Miner, 06 June 2024, https://theintelligentminer.com/2024/06/06/welcome-to-the-age-of-smart-mineral-exploration/ 

Peachey, Caroline, How is technology shaping minerals exploration? Mining Technology, 17 April 2025, https://www.mining-technology.com/features/how-is-technology-shaping-minerals-exploration/ 

Fernando “Ronnie” S. Penarroyo specializes in Energy and Resources Law, Project Finance and Business Development. He is also currently the Chair of the Professional Regulatory Board of Geology, the government agency mandated under law to regulate and develop the geology profession. For any matters or inquiries in relation to the Philippine resources industry and suggested topics for commentaries, he may be contacted at fspenarroyo@penpalaw.com. Atty. Penarroyo’s commentaries are also archived at his professional blogsite at www.penarroyo.com  

By Ronald S. Recidoro, Executive Director, Chamber of Mines of the Philippines

After more than a decade of uncertainty and policy flip-flops, the reconciled version of the Mining Fiscal Regime Bill, once signed, will mark a turning point in Philippine mineral policy. It is not just the culmination of years of legislative advocacy; it is the resolution to a long-standing national debate on how we can get the most out of our mineral wealth.

The final measure, based largely on Senate Bill No. 2826 (with the ore export ban wisely removed), charts a pragmatic path forward. It aligns the government’s revenue ambitions with investor requirements and finally offers the mining sector the regulatory clarity it has long prayed for.

A Law a Decade in the Making

When President Aquino assumed office in 2010, the industry had high hopes that mining would get its fair share of the government’s attention. Riding on the 2004 Supreme Court decision upholding the constitutionality of RA 7942 in La Bugal-B’laan vs. Ramos, and the Arroyo administration’s full-throated call for investments in the mining industry, the sector was on an upswing, posting 9% growth in 2010–2011. This, plus the size of the country’s estimated mineral reserves, then valued at US$1.38 trillion (approx. ₱77.0 trillion), seemed to position the country for a mining revival not seen since the 1980s. But rather than continue the momentum, the Aquino administration slammed on the brakes, influenced by counter-narratives that emphasized mining’s environmental costs while overlooking its economic potential.

In 2012, President Aquino issued Executive Order No. 79, imposing a moratorium on mining applications pending the passage of a new fiscal regime. While EO 79 recognized existing tenement rights, it also expanded no-go zones, created additional review layers, and generated policy confusion.

That same year, the Department of Finance proposed a new fiscal regime under House Bill No. 5367, which sought to impose either a 10% royalty on gross output or 55% of adjusted net mining revenues, whichever yielded higher revenues for the government. Though the bill underscored the administration’s goal to extract a greater share in mineral resource revenues, its punitive structure failed to strike a balance between state interest and investor viability. No consensus was reached, and the bill languished. As policy drifted, mining investment collapsed by 43%, from US$1.37 billion projected in 2012 to just US$800 million by year-end. The de facto moratorium persisted, and by then, it was clear: without a rational and competitive fiscal framework, there could be no future for large-scale mining in the Philippines.

The Duterte administration offered little reprieve. It began with a crackdown under then-DENR Secretary Gina Lopez. Suspensions, closures, and a biased audit process reaffirmed investors’ fears that the government still pushed the anti-mining narrative. However, a glimmer of reform emerged in Congress through House Bill No. 288, authored by Rep. Estrellita Suansing. The bill introduced, for the first time, a progressive margin-based royalty and a windfall profits tax. Though the bill failed to pass during that 18th Congress, it laid the groundwork for what would eventually become House Bill No. 8936 and Senate Bill No. 2826.

Armed with nothing but patience, the industry waited. Instead of fighting City Hall, mining companies followed instructions by improving their technical capacities and raising their standards, implementing ISO 14001, EITI, and TSM standards, all while lobbying for change. But as the Industry tread water, the window of opportunity narrowed further, and we fell behind our peer countries in attracting quality investment.

While President Duterte did lift his mining moratorium in the waning days of his term, it wasn’t until the Marcos administration that we saw real momentum. With a practical view of mining as a key driver of economic resilience, the administration reopened the door. Through sustained efforts by the Department of Finance, DENR, MGB, and industry stakeholders, we now have a reconciled fiscal regime bill that achieves what EO 79 never did: a coherent, progressive, and competitive law that balances risk and reward for all stakeholders.

The bill introduces a modern fiscal structure intended to make government revenue from mining operations more responsive to profitability, while also addressing long-standing demands for greater transparency, equity, and local benefit sharing. At its core, the bill adds to the current mineral excise tax system a new, progressive royalty regime. It also introduces a windfall profits tax (WPT), applies project-level ring-fencing, and enhances the revenue-sharing mechanism for local governments. Notably, the bicameral committee removed the proposed ore export ban, acknowledging real gaps in local processing capacity, power infrastructure, and investor readiness, thereby allowing the country to continue exporting ores while addressing the real challenges to attracting downstream investments.

Key Features of the Consolidated Bill

The consolidated mining fiscal regime bill introduces a more progressive and responsive framework for taxing the mining industry, one that aligns the Philippines with global best practices in extractives taxation. Projects located within mineral reservations will continue to pay a fixed royalty of 5% on gross output, while those operating outside reservations will be subject to a flexible, margin-based royalty structure ranging from 1% to 5%, depending on operating profit margins. Importantly, in cases where a project records zero or even negative margins, a minimum royalty of 0.1% on gross output still applies. This minimum royalty further affirms the State as owner of the minerals, ensuring that it receives a baseline share from all operations, even in downturns. This mechanism avoids the rigidity of flat-rate systems like Zambia’s and introduces fiscal resilience in both high and low commodity price cycles.

At the upper end of the scale, the bill introduces a windfall profits tax (WPT) that applies to net income once a project’s profit margin exceeds 30%. The WPT starts at 1% and increases progressively to a maximum of 10% for margins above 75%. This structure is broadly consistent with the approaches taken by countries like Chile and Peru, which tax extraordinary profits during commodity booms while maintaining competitiveness during normal years.

To ensure integrity in the tax system, the bill incorporates a ring-fencing provision that treats each mining project or agreement as a separate taxable unit. This prohibits cross-project cost offsets and promotes clearer, project-level revenue attribution, a practice aligned with OECD recommendations on project-based reporting. The bill also tightens restrictions on related-party debt through a thin capitalization rule that caps interest deductions at a debt-to-equity ratio of 2:1. This cap is stricter than Indonesia’s, consistent with Brazil’s, and more conservative than Australia’s, reflecting a deliberate effort to prevent base erosion and profit shifting while remaining within globally accepted norms.

The bill also seeks to equitably distribute mining revenues across levels of government. Forty percent of total government revenues from mining operations will be allocated to host local government units (LGUs), with a mandated release period of no more than six months after receipt of payment. Additionally, 10% of collected royalties will go to the Mines and Geosciences Bureau (MGB) and the Metals Industry Research and Development Center (MIRDC), reinforcing the state’s ability to regulate, monitor, and develop the industry effectively.

Transparency is institutionalized as a core principle of the regime. The Department of Finance is mandated to establish a fiscal transparency mechanism specific to the extractive sector, with an obligation for annual disclosure of company-level financial, tax, and environmental information. This mirrors the evolving international emphasis on open data and public oversight in natural resource governance, as championed by initiatives such as the Extractive Industries Transparency Initiative (EITI).

Taken together, these features position the Philippines to both increase government revenue from mining and offer a stable, predictable framework for investors, while reinforcing transparency, fairness, and alignment with global benchmarks. From a national fiscal standpoint, the Department of Finance estimates that the new regime will yield ₱6.26 billion in incremental revenues annually between 2025 and 2028, a figure higher than the House version and reflective of a more nuanced approach to taxing operating margins. At the local level, the law also promises to generate substantial developmental gains. Forty percent of government revenues from mining will be remitted directly to host local government units (LGUs), with mandated release within six months of collection. With reliable and regular releases of LGU shares ensured, this provision should enable mineral-rich provinces like Palawan, CARAGA, and South Cotabato to make sustainable development plans using their shares. Moreover, 10% of all royalties collected will be earmarked for the MGB and MIRDC to strengthen their regulatory, monitoring, and developmental functions. With only 50 or so large-scale metallic mines currently operating in the Philippines but occupying less than 0.02% of the country’s land area, this law has the potential to scale up both revenue and employment from mining without expanding the industry’s physical footprint.

Some Policy Concerns

Despite these gains, a cautious reading of the bill raises several serious concerns. First, the revenue forecasts assume stable metal prices, an expanding project pipeline, and improved investor confidence. Given the current global geo-political dynamics and our own government’s penchant for flip-flopping on mining policies every change of administration, these assumptions may not always hold. High-profile projects such as Tampakan, Kingking, and the Far SouthEast Project remain stalled due to unresolved permitting issues, regulatory flip-flopping, and legacy LGU and IP issues. Without a concerted effort to streamline permitting, lift outdated restrictions, and enforce clear policy alignment across agencies and local governments, the envisioned revenue gains may never materialize.

Second, the structure of the minimum royalty imposes a troubling distortion. When a mining project with high gross output but temporarily negative margins falls below zero profit, it must still pay 0.1% of gross output as a minimum royalty. This can result in higher tax obligations than if it had posted a narrow profit. For example, a company with ₱10 billion in gross output and a -0.5% margin would owe ₱10 million in royalty. In contrast, the same company with a +0.5% margin might owe significantly less under the margin-based sliding scale. This absurd but plausible scenario effectively penalizes distressed or reinvesting mines, contradicting the policy’s stated intent to support marginal operations and manage cyclical risk. A deferred royalty mechanism, or one based on net smelter return rather than gross output, may have offered a more rational approach.

Third, ring-fencing and thin capitalization rules, while sound in theory, may impose unintended costs. By disallowing cross-project costs and restricting intercompany financing flexibility, these provisions could deter companies from developing higher-risk or early-stage projects. They may also raise financing costs, especially for companies relying on intra-group lending to absorb high upfront capital expenditures common in exploration and development.

Fourth, while LGU revenue sharing is a welcome reform, the actual absorptive capacity of many host LGUs to plan and make the best use of their shares in national wealth taxes remains weak. These expedited releases must translate into tangible community investments, especially in health, education, and resilience. However, without meaningful capacity-building, fiscal transparency measures, or development planning support, there is a risk that windfall revenues could be poorly managed or diverted to non-priority expenditures, undermining the very goal of inclusive development.

The implementation of the windfall profits tax is also likely to be complex. Accurately assessing profit margins in mining is notoriously difficult due to fluctuating costs, commodity price volatility, and varying interpretations of deductible expenses. Without significant upgrades to the BIR’s technical capacity and the issuance of clear, administratively feasible rules, the WPT could become a source of protracted audit disputes, uncertainty, and litigation.

Finally, while the bill correctly deleted the export ban, it fails to put forward a coherent strategy for downstream processing. The problems and challenges to competitiveness that the industry flagged during the Duterte administration are still unaddressed. There is still no national roadmap for value-adding through domestic refining or smelting. Without one, the Philippines risks being locked as a raw material exporter in an increasingly competitive regional market where countries like Indonesia and Australia are aligning their mineral policies with the global transition to clean energy, electric vehicles, and battery manufacturing. A practical critical minerals roadmap, similar to Indonesia’s EV-battery strategy, is urgently needed to jumpstart the vision of adding more value to our raw minerals.

It is also important that we not oversell the idea of mining being an economic game-changer for the Philippines. While the reform does enhance our fiscal and policy stability, it cannot compensate for the fact that the Philippines lacks large reserves of rare earths or critical minerals beyond lateritic nickel. Indonesia, on the other hand, not only boasts the world’s largest nickel reserves but also holds a dominant 61% share of global refined nickel production. By comparison, the Philippines has about 4.8 million tonnes of contained nickel (≈3.7% of global reserves), ranking sixth globally, and produced 330,000 tonnes of contained nickel ore in 2024, about 9% of global output.

In sum, while the mining fiscal regime bill brings long-overdue stability and clarity to an industry paralyzed by policy ambiguity, its economic potential will only be realized through aggressive implementation, regulatory reform, and a broader national minerals development strategy. The government must now move swiftly to issue clear rules, build institutional capacity, and lift the remaining non-fiscal constraints on mining. Only then can the Philippines harness its mineral wealth not just as a revenue stream, but as a platform for industrial transformation and inclusive growth. This reform is a critical first step, but it does not make us a mining powerhouse. With realistic expectations and focused implementation, however, the Philippines can still become a credible and responsible player in the global minerals supply chain.

Next Steps and Recommendations

Moving forward, the Industry must engage actively with the government in the drafting of the law’s implementing rules, with particular focus on clarifying how margins will be calculated and what deductions will be allowed, how the windfall tax thresholds will be applied and phased in, and how ring-fencing rules will treat co-located projects sharing the same manpower, equipment, and infrastructure.

We will need to coordinate closely with the DOF, MGB, and BIR to ensure that compliance tools are practical and that there is adequate transitional support for projects that may be significantly affected. At the same time, we need to keep pushing the government to address existing challenges and create stronger incentives for downstream processing. This can be achieved through future legislation or administrative policies to enhance the Philippines’ competitiveness in mineral value-adding.

Finally, we should keep a close watch on how this new fiscal regime impacts marginal projects on the ground and be ready to advocate for appropriate forms of transitional relief where justified.

Conclusion

The passage of the reconciled mining fiscal regime bill marks a pivotal moment in the long and difficult effort to craft a fair, forward-looking policy for the mining sector. The framework it offers is progressive yet pragmatic. It is designed to give the government a greater share when profits surge, while offering protection and predictability for investors during leaner periods. Crucially, it acknowledges the high-risk, capital-intensive nature of exploration and development. Without globally competitive returns, responsible players will continue to look elsewhere.

The bicameral version of Senate Bill No. 2826 represents real progress. It removes the contentious ore export ban while putting in place a more balanced and transparent tax structure. But its passage is not the finish line. The real work begins with implementation: ensuring that the IRR is clear and practical, that agencies are adequately resourced, and that transition measures are in place for marginal or legacy projects.

If we are serious about making mining a real contributor to national development, the government and private sector must now work even harder to address long-standing structural issues: streamlining permitting, fixing inter-agency bottlenecks, aligning national and local development goals, and ensuring the highest standards of environmental and social responsibility.

From the issuance of EO 79 in 2012 to the finalization of this bill, the road has been long, often uncertain, and politically fraught. But we have finally arrived at a point of clarity. We now have a fiscal regime that reflects hard-won compromise, sound economics, and, above all, a vision for shared prosperity. This is our opportunity to restore trust between the government and investors, between industry and communities, between economic growth and environmental integrity. It is now up to all of us to follow through with good governance, targeted investment promotion, and a deep commitment to sustainability.

 

For those who want to better understand what this new fiscal regime means, not just for government or industry, but for communities, investors, and the broader development agenda, we invite you to join us at MINING PHILIPPINES 2025, happening on October 22–23, 2025, at the Grand Hyatt Manila, Bonifacio Global City. This will be the first major industry gathering following the law’s passage, and it promises to be an important venue for dialogue, clarification, and collaboration as we move from policy to implementation.

The interplay of geopolitics and natural resources has become increasingly pronounced in modern times, with countries vying for access to critical minerals vital for economic and technological development.

Recent events, such as the hostility between Israel and Iran, with the United States striking Iran’s three nuclear sites, have significant ripple effects on resources globally, especially on energy, supply chains and humanitarian aid.

Even without the current tensions in the Middle East, geopolitical interests have been seen as a major driver of activity for mining and metals.

In a 2024 study among developed markets conducted by White & Case, 45% of respondents identified economic and geopolitical interests (geopolitics, critical minerals policies, resource nationalism and reconfiguration of global supply chains) as the top driver, followed by climate change, ESG and decarbonization initiatives (24%); inflationary and metal supply pressures (21%); Chinese economy slowdown (7%); and other factors (2%).

Supply chain disruptions are also seen as the biggest potential impact of geopolitical tensions (58%), followed by slowdown in actual commodity demand and deflationary pressures from slow growth (27%).

While geopolitics may be seen as impacting natural resources, it has long been posited that our requirements for natural resources in fact dictate geopolitical dynamics, which influence nations’ interactions on the global stage.

Some factors which have led to the rise of natural resources in the determination of geopolitics and the growing competition for access and control of resources include “rapid industrialization, rising demand for energy, emergence of new markets and depletion of natural resources at a disconcerting rate.” [“Geopolitics of Natural Resources” (2012) by Nishtha Chugh]

In a paper entitled “Resources: Geopolitics Around IT” [Bhawani Prasad Sharma (2022), four points of significance of natural resources in shaping international relations were identified:

1. Economic significance: Natural resources, such as oil, minerals, and agricultural products, are essential for economic development. They drive industries, generate revenue through exports, and are critical for maintaining a country's economic stability and growth.
2. Strategic significance: Control over certain resources can confer strategic advantages. For example, oil-rich countries often wield significant influence in global affairs due to their ability to impact energy markets. Similarly, access to rare minerals essential for high-tech industries can be strategically advantageous.
3. Political Significance: Natural resources can influence political dynamics within and between countries. Resource abundance can lead to conflicts over control and distribution, while resource scarcity can create vulnerabilities and drive cooperation or competition for access.
4. Environmental Significance: The exploitation of natural resources can have significant environmental impacts, leading to environmental degradation, pollution, and climate change. These environmental issues can in turn influence international relations, as countries seek to address common challenges through cooperation or face conflicts over environmental resources.

The following types of natural resources were identified in terms of their geopolitical importance in international relations:

• Energy Resources
  • Oil and Gas: Countries rich in these resources hold significant geopolitical influence because of their control over global energy supplies.
  • Renewable Energy: The rise of renewable energy such as solar and wind energy is introducing a shift in geopolitical dynamics, in that more countries are investing in renewable technologies to lessen dependence on fossil fuels and to enhance energy security.
• Minerals and Metals
  • Rare Earth Elements: These are essential elements for electronics and high-tech industries, and those countries who hold a dominant position in production have more geopolitical influence.
  • Precious Metals: Metals such as gold, silver, and platinum hold significance because of their value and perceived stability.
• Water Resources
  • Freshwater: Access to this is essential for agriculture, industry and human survival hence, disputes over water resources often lead to tensions and conflicts among nations.
• Agricultural Resources
  • Food Security: Countries with abundant agricultural resources may use this as leverage when it comes to trade and diplomatic negotiations.
• Forests and Timber
  • Biodiversity: This holds ecological value which may economically benefit countries.
• Fisheries
  • Marine Resources: Access to marine resources, such as fish stocks, can be a source of contention between countries, leading to disputes over fishing rights and maritime boundaries.

Locally, the Chamber of Mines of the Philippines has observed that heightened geopolitical risks typically drive up gold prices with investors seeking safe-haven assets.  As the Philippines is a major producer of gold, copper and nickel, commodities that are sensitive to both global demands and logistical challenges, the current situation is both an opportunity and a crisis due to the risks brought by global inflation, rising energy costs and potential delays in project execution.

According to the Chamber’s Chairman and President, Michael Toledo, “Despite global uncertainty, we remain cautiously optimistic about the resilience of the Philippine mining industry, particularly in gold, copper, and nickel production.” 

He added: “Elevated commodity prices, if sustained, present an opportunity to enhance national economic stability through increased revenues, job creation, and fiscal contributions.”

Geopolitical competition, particularly between China and the United States, has heightened the strategic value of Philippine mining.  China has long been a major investor in the country’s mining sector, seeking to secure supplies for its manufacturing-heavy economy.

In contrast, the US and its allies are increasingly pursuing "friendshoring" strategies to reduce reliance on Chinese-controlled supply chains, viewing Philippine minerals as a potential alternative source.

As global powers reposition for access to strategic resources, the Philippines finds itself at the nexus of economic opportunity and geopolitical tension. How it manages its mining sector could significantly influence both regional dynamics and its own path to sustainable development.

At least once a year, when International Women’s Month is celebrated in March, we are reminded to pause and take stock of the role of women in resources development.

The mining industry in the Philippines, like many other countries, has traditionally been male-dominated.  Nevertheless, there are marked efforts to increase women's participation and address their unique challenges, thanks in no small part to the leadership of a woman Secretary of Environment and Natural Resources and to groups that are pushing this agenda.

Among the major issues faced by women in mining are: (1) gender division of labor, where women are confined to jobs that are less technical or less physically taxing; (2) limited access to education and training, which in turn limits their opportunities for advancement; (3) cultural and social barriers, which include cultural beliefs that prevent women from going underground; and (4) negative environmental and social impacts of mining operations.

To address these challenges, a number of steps have been identified:

1) Policy reforms. These include amending the Philippine Mining Act to include gender-sensitive provisions to ensure more equitable participation and opportunities for women.  Mining companies could also be mandated to conduct periodic gender impact assessments and sex-disaggregated data collection.

These reforms would also include a better implementation of the Magna Carta of Women in the mining industry and introducing guidelines, particularly for Social Development and Management Programs (SDMPs) which would encourage gender-responsive projects to meet the needs of women in mining communities. 

In this regard, Department of Environment and Natural Resources (DENR) Secretary Maria Antonia Yulo Loyzaga recently signed a new department administrative order mandating mining companies to incorporate the United Nations’ 17 Sustainable Development Goals (UN SDGs) into their SDMPs. Mining contractors and permit holders will have the responsibility of ensuring that SDGs are achieved within their host and neighboring communities.

The 17-point UN SDGs include, among others, no poverty; zero hunger; good health and well-being; quality education; gender equality, clean water and sanitation; affordable and clean energy; decent work and economic growth; reduced inequalities; and sustainable cities and communities.

2) Education and Training. This involves iincreasing access to education and training programs tailored to women to bridge the gap in technical skills.  Women often have limited access to STEM education which is essential for careers in mining. 

Mining companies can take the lead in developing and implementing training programs specifically for women in mining to hone their technical and management skills, and leadership.

There are existing programs, such as the United Nations Development Programme’s course on Gender and Mining Governance, which includes modules on promoting women's engagement in mining projects.

3) Empowerment and Leadership Opportunities. In a 2023 speech at the 10th anniversary celebration of Diwata – Women in Resource Development, DENR Secretary Loyzaga urged mining companies to empower women to lead and provide a platform that can harness their unique perspectives, knowledge and skills. “Mining companies are urged to enhance women participation in their conservation and restoration projects, acknowledging the indigenous women’s and other women’s invaluable knowledge of local ecosystems. The mining industry can mainstream gender-responsive policies in their corporate strategies, not only to ensure that practices do not inadvertently harm women, but that they also build corporate resilience,” Loyzaga said.

As this is being written, the Chamber of Mines of the Philippines (COMP), in partnership with PH-EITI and the Mines and Geosciences Bureau, has announced a forum entitled “Mining Her Own Business: Elevating Women’s Voices in Natural Resource Governance” which is expected to gather industry leaders, policymakers, academics, and development partners to discuss gender-responsive governance in the extractive sector.  The discussions will focus on:

• Women’s participation in decision-making
• Gender-sensitive data disclosures
• The impact of mining revenues on women and marginalized groups

Although women continue to face significant challenges in the mining industry in the Philippines, there are concerted efforts to address these issues and create a more inclusive sector.  It is envisioned that, by promoting gender equality and providing opportunities for women to participate fully, the mining industry will become more sustainable and equitable for all stakeholders.

The recent October monthly meeting of the Philippine Mining and Exploration Association (PMEA) was filled to capacity as industry players eagerly awaited the keynote of newly appointed Department of Environment and Natural Resources (DENR) Assistant Secretary (ASec.) for Mining Concerns and concurrent OIC Director of the Mines & Geosciences Bureau (MGB) Michael Cabalda.

In his prepared speech, ASec. Cabalda highlighted a number of initiatives including: (1) pushing a proposed Department Administrative (DAO) order articulating a policy framework that would allow the country to gain from our mineral wealth; (2) streamlining the permitting process to reduce the time to 11 months or shorter; and (3) reviewing the Small Scale Mining Act to formalize small scale miners and increase their contributions.  These initiatives envision a mining industry that is not only an ore supplier but a critical player in mineral processing and downstream manufacturing.

The more spirited portion of the program was the Q&A where it was apparent that the audience was keen to hear directly from Assistant Secretary Cabalda in his first engagement with industry since his appointment.

Asked how soon the MGB will be able to implement the above policy changes, particularly the reduction of the processing period for permits, Assistant Secretary Cabalda credited DENR Secretary Maria Antonia Yulo Loyzaga for leading these initiatives, foremost of which is giving the MGB Director the authority to sign documents that previously needed to be cleared.  He also spoke about a more active MGB with respect to the pricing of nickel, statistics on safety and environment, among others.

Most encouraging was his assurance “Help me out and I’ll try to deliver and give you what you need.”  He added that the “MGB is your partner.  We will be with you when you do your work.”  His warning “and we will punish you when you don’t” drew laughter from the crowd.

A recurring theme was the need for communication between the government and the private sector and institutionalizing a mechanism for government to address problems raised by industry.  A suggestion to hold regular dialogs with industry was well received.

In addition, Asec. Cabalda expressed the need to touch base with his ‘council of elders’ or the MGB old-timers who possess the institutional knowledge and experience to be applied to (not-so-new) issues.  This is expected to promote consistency in the MGB’s interpretation and application of issuances across the different regional offices.  He likewise reiterated that he intends to build on what MGB, and the regional directors have done.

Another key strategy is to digitize all records and information to eliminate the current antiquated paper-based system.  With information being available online and available in real time, there will be greater transparency, as well as identification of where the bottlenecks are.

As Asec. Cabalda discussed the need for coordination with other government agencies, particularly the National Commission on Indigenous Peoples and the Department of Interior and Local Government, I recalled his comments (prior to his appointment) during the May 2024 “Mining Summit” where he said that there is no need to reinvent the wheel as there is an existing and comprehensive Minerals Action Plan prepared by the Minerals Development Council back in 2004, with specific and detailed items to address the identified challenges. Even 19 years later, it is replete with implementable action items.

It bodes well that our new MGB Director is approaching his role with openness and candor.  The industry can do no less by responding in kind.

***

Postscript: Due to family commitments, I missed the Chamber of Mines’ “Digging Deeper” Policy Forum and will also miss, for the first time in recent years, PMSEA’s Annual National Mine Safety and Environment Conference (ANMSEC). 

The ANMSEC has always been an opportunity for Diwata-Women in Resource Development to contribute to the discussion of important mining issues, as well inviting the participation of the ambassadors of countries which are developed mining jurisdictions.

One particularly memorable event for me was our 2012 forum featuring the Deputy Mineral Resources Minister of South Africa, Godfrey Oliphant.  He was a fiery and outspoken advocate for mining, despite his once being a member of South Africa’s Communist Party.  His story of how he came to realize the important role that mining played in South Africa’s economy was the perfect counterpoint to the student activists who had met him in UP Baguio.

(Part One of Two)

Written by Noel B. Lazaro, Eveart Grace P. Claro, Judd Yonder L. Reyes, and Marielle D. Marbella

In the foothills of Brooke’s Point, Palawan, the air is thick with purpose as workers press seedlings into the earth, each one a small promise for a greener future. Two years into its operation, the Ipilan Nickel Project has planted nearly three million seedlings. Yet, while the commitment to reforestation is clear, the challenge lies not in the availability of seedlings or the manpower to plant them, but in securing suitable land for these young trees to thrive within the municipality’s 85,064.90 hectares. Afforestation of previously scorched mountainsides and agroforestry initiatives are underway.

By May 2024, mining companies had planted over 55 million seedlings in more than 50,000 mined-out areas, expecting a survival rate near 90 percent. Tree planting can help local communities, but it is not a complete answer.

Mining drives the world’s economy, providing raw materials vital for industries. The World Economic Forum notes that half of global GDP relies on natural resources. But mining comes with heavy costs. A 2020 McKinsey report estimates that mining produces 1.9 to 5.1 gigatons of carbon emissions yearly, largely from coal-bed methane and energy use. In 2022, the Deloitte Economics Institute warned that climate change could lead to global losses of $178 trillion from 2021 to 2070. In the Philippines, the Nationally Determined Contributions (NDC) indicates that the mineral industry will continue to be a major greenhouse gas (GHG) emitter through 2030.

This article examines the challenges and opportunities for decarbonization in the Philippine mining sector.

GREEN (EV)OLUTION

Decarbonization is essential for mitigating climate change by reducing or eliminating carbon dioxide (CO2) and other GHGs. It involves transitioning to cleaner energy sources and adopting sustainable practices to lower pollution. The ultimate goal is achieving "net-zero" emissions, where the amount of GHG released is balanced by the amount removed. Emission control can be achieved through natural methods like tree planting or watershed restoration, and the costlier technological solutions such as direct air capture and storage.

 

As the global community grapples with the urgent need for sustainable practices under the 2015 Paris Agreement, the Department of Environment and Natural Resources (DENR) has launched a "green transition" initiative. Secretary Maria Antonia Yulo-Loyzaga frames the transition as a “whole-of-society” effort, advocating for science and technology investments alongside social and ecological considerations. Her emphasis on promoting biodiversity, carbon footprint reduction, and effective waste management practices is a step in the right direction.

At the Nordic-Philippine Climate Executive Dialogue held on June 18, she advocated for “nature-based solutions” for carbon reduction, suggesting a preference for simpler, less costly strategies over more complex carbon capture technologies. However, nature-based solutions, while essential, must be part of a broader strategy that includes robust carbon and efficient regulatory frameworks and tech advancements to genuinely meet the country’s pledge to reduce GHG emissions by 75 percent by 2030.

The secretary highlighted the Philippine Ecosystem and Natural Capital Accounting System (PENCAS), which aims to quantify the value of natural resources, including minerals, to socio-economic development and includes addressing the impacts on ecosystems by adopting the mitigation hierarchy in mining operations, which follows the steps of avoidance, minimization, restoration, and offsetting compensation for affected communities. On the other hand, the DENR's recent release of the Implementing Rules and Regulations for the Extended Producer Responsibility Act of 2022, which mandates large companies to manage plastic waste, is a positive development.

The drive for modern infrastructure—encompassing electrification, renewable energy, automated systems, and AI-powered monitoring—represents a critical yet challenging evolution. In this context, electric vehicles (EVs) offer cleaner alternatives that reduce reliance on diesel machinery, which, according to a 2023 Mining Technology report, emits high levels of nitrogen oxides (NOx) and sulfur dioxide (SO₂). EVs are also safer and quieter, contributing to lower fire risks.

However, such transformations often require substantial investments that can be prohibitively high. Thus, the call for effective incentives is crucial, but details remain vague. For Atty. Dante R. Bravo, president of Global Ferronickel Holdings, Inc. (FNI) and Philippine Nickel Industry Association, Inc. (PNIA), the industry “needs clarity in terms of incentives for mineral processing” and “competitiveness given the size of investments required.”

The dialogue around margin-based royalties and windfall profit taxes is envisioned to help build a more equitable arrangement.

IN THE PIT OF CHANGE

CARBON CREDIT CARD

Investing in carbon rights is touted to be a more ingenious approach to offset carbon emissions. Generating a new source of income helps to meet financial objectives while also advancing global carbon reduction goals.

The proposed Low Carbon Economy Investment Act (House Bill 7705) aims to advance the Philippines' transition to a low-carbon economy. This legislation requires major GHG emitters to formulate decarbonization plans limiting global temperature increases to below 2°C. It also introduces a carbon pricing mechanism that imposes costs on emissions exceeding set thresholds, thereby creating a decarbonization fund. This fund is intended to be reinvested in sustainable, low-carbon initiatives, offering considerable opportunities for businesses and investors committed to sustainable development.

Concurrently, the Carbon Rights Act (House Bill 10635) is envisioned to overcome obstacles to investing in carbon forestry and related projects. This legislation clarifies ownership of carbon rights and establishes processes for their transfer, thus enabling better integration into global carbon markets. For investors, particularly those focused on nature-based solutions, this act opens new avenues for investment in essential carbon projects intended to achieve global emission reduction goals.

Carbon trading involves the exchange of emission rights and credits that permit organizations to emit specific volumes of CO2. Companies can purchase credits to increase emissions or sell them to reduce emissions. This system allows mining companies to support biodiversity and restore ecosystems while generating revenue.

Atty. Analiza Rebuelta-Teh, DENR Undersecretary for Finance, Information Systems and Climate Change, recently disclosed that the Department of Finance is creating a framework for carbon finance while the DENR is working on the rules for carbon credits.

These legislative initiatives signify notable progress, yet substantial challenges loom. The effectiveness of the Low Carbon Economy Investment Act hinges on precise baseline emissions data, rigorous enforcement, and vigilant monitoring; without these, companies may underreport emissions or sidestep decarbonization commitments. In addition, the viability of the carbon pricing mechanism depends on businesses' capacity to adapt, requiring time to develop essential infrastructure and mitigate oversupply issues that have plagued other markets. Public backing for carbon pricing presents difficulties, particularly if it results in higher consumer costs; thus, clear communication of its benefits is essential. Furthermore, while the Carbon Rights Act aims to attract investment into carbon projects, potential investors may confront legal ambiguities, bureaucratic hurdles, and a lack of transparency. Ultimately, the Philippines must compete with other nations for carbon project investments, necessitating demonstrable benefits, a stable regulatory framework, and proactive policies to avoid the pitfalls faced by early carbon markets in the European Union.

Addressing these hurdles will be crucial for their successful implementation and maximizing the benefits of a transition to sustainable practices.

 

(To be continued…)

 

Noel B. Lazaro is a director and general counsel at Global Ferronickel Holdings, Inc. His practice spans diverse fields, including environmental litigation. He was an associate at SyCip Salazar Hernandez & Gatmaitan and a partner at Siguion Reyna, Montecillo & Ongsiako. A UP College of Law graduate, he teaches evidence, special proceedings, and special writs at law schools.

Eveart Grace Pomarin-Claro is the Corporate Secretary of Global Ferronickel Holdings, Inc. and the Executive Legal Officer at Platinum Group Metals Corporation. A University of St. La Salle College of Law graduate, she specializes in securities and capital markets, taxation, project finance, and mergers and acquisitions.

Judd Yonder L. Reyes is a research associate and paralegal at Platinum Group Metals Corporation. A Bachelor of Arts in Communication graduate (Magna Cum Laude) from Pamantasan ng Lungsod ng Maynila, she completed the 29th Foundation Course of the Paralegal Training Program of the University of the Philippines - Law Center.

Marielle Marbella is a research associate and paralegal at Platinum Group Metals Corporation. A Bachelor of Science in Life Sciences-Communication Track graduate (Magna Cum Laude) from Ateneo de Manila University, she has a background in journalism and supports the group’s sustainability programs.

In loving memory of Bernabe “Abe” Almirol, journalist (August 25, 1969 – September 17, 2023)

“A symbol of excellence, a source of motivation, of surpassing oneself and of ultimate achievement, medals are much more than objects: they represent the apotheosis in the career of elite athletes.” (Tony Estanguet, President of Paris 2024)

The Paris 2024 Olympics or 2024 Summer Olympics, which started from July 26 and ended in August 11, brought together around 10,714 athletes from 204 countries (including AIN and Refugee Team) who competed in 329 medal events.

As a measure of an athlete’s achievement, human spirit, and endurance, the Olympic medal has its historical and material value. 

An Olympic medal is traditionally representing an athlete’s victory and glory that reflects back to one’s home country. It is primarily a symbol of the Olympic spirit rooted on tradition and history from the first Olympic Games in 776 BC at Olympia in Greece, and more formally from Athens 1896 Olympics -- the first international Olympic games held in modern history.

But is there really gold in the Olympic gold medal? Moreover, what is the metallic composition of the silver and bronze medals? And overall, what is the monetary worth of these medals, particularly the gold medal?

On February 8, 2024, The Paris Organising Committee for the 2024 Olympic and Paralympic Games (POCOG) unveiled to the public the medal design for the 2024 Olympic and Paralympic Games.

In designing the medals, members of the Paris 2024 athletes’ commission worked with the renowned Parisian jewelers Chaumet. The manufacturing of the medals is undertaken by the Monnaie de Paris; the world's longest continuously running mint.

What makes the Paris 2024 Olympics medal unique is that a fragment of the Eiffel Tower is placed at the center of the medal.

“For the first time in the history of the Games, each Olympic and Paralympic medal is adorned with a highly symbolic and priceless piece of metal: the original iron from the Eiffel Tower,” according to the media release of the Paris 2024 Organising Committee.   

“Erected to amaze the world at the 1889 Universal Exhibition, the Eiffel Tower is made entirely of a special type of iron known as ‘puddle’ iron. Manufactured in the forges and blast furnaces of Pompey in Lorraine, the cast iron produced by reducing iron ore is refined by an operation called ‘puddling’. By removing the excess carbon still present in the cast iron, the resulting iron is almost pure and extremely strong.”

The structure of the Eiffel Tower had undergone renovation work during the twentieth century. During the renovation, metallic elements were removed from the Dame de fer and have been carefully preserved ever since.

During the construction of the Eiffel Tower for the 1889 Universal Exhibition, the material of choice for the structure is cast iron. However, as part of the tower’s upkeep, much of the cast iron used was replaced over the twentieth century. These materials were preserved by the operators; the Société d’Exploitation de la Tour Eiffel.

The Paris 2024 Olympic Games provided an opportunity to give the material a new purpose – to be incorporated in the design and composition of the Olympic medals.

“For the Olympic and Paralympic Games Paris 2024, the Société d’Exploitation de la Tour Eiffel is giving these veritable pieces of the history of Paris and France a second lease of life.”

The traditional Olympic medals do not contain iron. Therefore, the additional iron from the metal fragment of the Eiffel Tower for this year’s Olympic medals is a unique feature. The Eiffel Tower is a cultural icon of France, and one of the most recognised architectural marvels of the modern world.

Throughout history, France has been known for their innovation in science, technology, art, music, and more. Breaking away from the traditional Olympic medal, they wish the give the victorious athletes a special part of the French culture and history to bring home with them to their home country.

“By placing fragments of the Eiffel Tower at the center of its medals, Paris 2024 hopes to leave athletes with an unforgettable memory of the Games, of Paris and of France.”

According to the official Paris Olympic website, this addition (of iron) not only enhances the medals’ historical and cultural significance, but also connects them to the rich heritage of France and Paris. [2] 

The inclusion of this unique material adds an extra layer of prestige to the 2024 Olympic medals, the website said.

The medal for the Paris 2024 Olympics has a diameter of 86mm, thickness of 92mm, and 18g Eifel Tower Insert. In terms of weight, the gold medal weighs 529g, the silver medal is 525g, and the bronze medal is 455g.

To determine its material value of the gold medal, the 529g of metal is composed of more than 95% silver (505g), and just 6g of gold for plating, plus 18g of iron from the metal fragment of the Eiffel Tower.  Therefore, according to a report in Forbes, the gold medal for the Paris 2024 Olympics is worth approximately $950.

In summary, the gold medal is made of silver plus a thin plating of gold. A silver medal is made of silver, while the bronze medal contains copper, tin, and zinc.

These medals are made in accordance to the specifications of the International Olympic Committee (IOC) and in consultation with the National Olympic Committee of the host nation.

More on the medal’s craftsmanship, the iron retains the original shape of a hexagon as in the original Eiffel Tower. They have been encased on the observe side of the medals in the centre with six appendages. [2]

Looking at the medal’s front design, the cast iron is reforged in hexagonal ingots that sit at the center of the medal. The shape is a geometric representation of France; a country that also goes by the nickname, L'Hexagone. The hexagon is also embossed with the games' emblem.

French people often refer to Metropolitan France as L'Hexagone  or The "Hexagon", because of the geometric shape of its territory.

“At the six corners of the ingot sit hobnail-like embossing in the 'Clous de Paris' style, chosen for its resemblance to the rivets used in the Eiffel Tower. The hexagon is cut to appear as if it is held within the medal with a ‘claw setting’, a common method of setting gems in jewelry by Chaumet.” [1]

 

Looking at the artwork on the reverse side of the Olympic medal, it follows the standard for Summer Olympic Games medals with the Greek goddess of victory Athena Nike against the Panathenaic Stadium in Athens. This is a commemoration of the origin of the modern Olympic Games in 1896.

The design also includes the Olympic Rings and the text 'JEUX DE LA XXXIIIe OLYMPIADE - PARIS 2024' set in the Paris 2024 custom font. [3]

Another unique and non-traditional feature of this medal is the inclusion of the Eiffel Tower, opposite the Acropolis. [3]

In closing, Outlook Business website commented, “An Olympic medal can never be measured in purely monetary value. Though the amount of gold in an Olympic gold medal could be modest in terms of material value, the prestige they carry far outweigh their intrinsic worth. And like every Olympic Games, this year's medals will also remain a unique piece of heritage in the rich history of the Summer Olympic Games.”

 

References and Photo credits:

[1] medal’s design - https://logos.fandom.com/wiki/Paris_2024/Medals?file=Paris2024Oly_MedalsObverse.png Carlo Yulo’s photo - https://www.kollectivehustle.com/blog/10-key-moments-that-brought-carlos-yulo

[2] Outlook Money (Aug. 7, 2024). Outlook Business. "Paris Olympics 2024: How Much Is A Gold Medal Really Worth".  https://www.outlookbusiness.com/personal-finance-news/paris-olympics-2024-how-much-is-a-gold-medal-really-worth?fbclid=IwY2xjawEzs5xleHRuA2FlbQIxMAABHbatJF5Wct8fEhQo98EoW7O5NxMkKkoHUA7qv6qSY6KVO850MZsBbc1zQA_aem_oTRO1Ys18y2w9H04MwbzjA

[3] Paris 2024 Olympics - Press Area. “The Medals of the Olympic and Paralympic Games Paris 2024” https://press.paris2024.org/assets/paris-2024-press-kit-medals-of-the-paris-2024-games-02-2024-pdf-f8b1-7578a.html

The Philippines has achieved a milestone in supporting the global response to the threat of climate change with its election last July as the host country of the Board of the Fund for Responding to Loss and Damage.

The country’s bid, which won over seven other contenders, was prepared through a whole-of government approach led by the Department of Environment and Natural Resources, supported by the Department of Foreign Affairs, Department of Finance, Department of Budget and Management, Climate Change Commission, Department of Justice and the National Economic Development Authority.

The Fund, which was operationalized at the COP 28 UN Climate Change Conference in 2023, was established to help vulnerable countries recover from climate impacts. It is mandated to assist developing countries that are particularly vulnerable to the adverse effects of climate change in responding to economic and non-economic loss and damage associated with the adverse effects of climate change, such as extreme weather events and slow onset events.

As a country beset by typhoons, floods and the resulting loss of lives and livelihoods, the Philippines needs to take an active role and be strong voice in the discussions on global climate action.

It is therefore significant that the Philippines also has a seat on the Board itself, which is composed of 26 members from Parties to the United Nations Framework Convention Climate Change (UNFCCC) and its Paris Agreement, with 12 members from developed country Parties and 14 members from developing country Parties.

The Board had its first meeting in May 2024, which provided the first opportunity it to engage with the World Bank on establishing the Fund as a World-Bank-hosted financial intermediary fund (FIF). The Board and the World Bank exchanged their views on the conditions for establishing an FIF, including ensuring that the most vulnerable people on the frontlines of climate impacts are able to access support from the fund, including through direct access to fund resources.

On 28 August 2024, President Ferdinand Marcos Jr. signed into law Republic Act No. 12019 which grants the Loss and Damage Fund Board juridical personality and legal capacity.  It allows the Board to contract, acquire and dispose of immovable and movable property, and start legal proceedings.  It can also negotiate, conclude and enter into a hosting agreement with the World Bank as an interim trustee and host of the Fund’s secretariat, and undertake activities needed to discharge its duties.

Developed countries that account for most of the world’s greenhouse gas emissions have pledged USD661.39 million to the fund, but this is far below the USD100 billion to USD580 billion global estimates for the annual loss and damage in developing countries.

By hosting the board, the Philippines has a huge challenge in attracting support from developed countries and development partners to provide financial contributions in addressing losses and damage due to climate change.