Mining slump sparks gov’t revenue debate

According to the 2024/25 forecasts from the Finance Ministry, mineral revenues were expected to provide about 27% of budget revenues for the financial year, at an estimated P25.2 billion. Mineral revenues comprise taxes, royalties and dividends on the various mining and mining-related activities taking place in the country.

As with other years, diamond mining was expected to provide the bulk of these revenues, with fiscal authorities hoping that the sector would shrug off the deep slump seen in the second half of last year.