Philippines mining sector outlook bleak under Duterte

Significance

This is part of a 'crackdown' on mining under the new president: speaking on August 1, Rodrigo Duterte demanded that mining companies follow regulations or the country will "survive as a nation without you".

Impacts

• Some delays to power generation projects are likely, reducing available energy and constraining Duterte's industrialisation plans.
• Renewable energy sources could gain more government support.
• Duterte may ignore the Paris climate agreement and support further coal-based power supply, likely via Indonesian coal.
• Increasing coal imports could spur further maritime piracy in the Sulu Sea.
• Global metal market prices will rise -- nickel ore prices rose 13% in July.