The Philippines has emerged from the bottom 10 among the world’s mining jurisdictions that miners see as having the worst policy regime, according to a study by the Canadian think tank Fraser Institute.
The results of Fraser Institute’s 2015 survey of mining companies show that the Philippines ranked 89th out of 109 mining jurisdictions across the globe in terms of the policy environment.
The survey, conducted from Sept. 15 to Nov. 27 in 2015, covered the opinions of executives and representatives of 449 mining and exploration companies.
Based on the survey’s Policy Perception Index (PPI), the country scored 41.48 points out of a possible 100, exiting the worst 10, which the Philippines was part of when it ranked 113th out of 122 jurisdictions in the 2014 survey.
The rankings include sub-national jurisdictions, with countries like Argentina, Australia, Canada and the United States having multiple jurisdictions.
Taylor Jackson and Kenneth P. Green, who penned a 90-page report on the survey results, describe the PPI as a “report card” to governments on the attractiveness of their mining policies.
The index is composed of survey responses to policy factors that affect investment decisions, the survey said.
Such factors include uncertainty concerning the administration of current regulations, environmental regulations and regulatory duplication.
However, based on another index –the Best Practices Mineral Potential Index (BPMPI), which rates geological attractiveness to investors—the Philippines ranked 35th out of 109.
Considering both indices — the PPI and the BMMPI — Fraser Institute placed the Philippines at 72nd out of 112 in the Investment Attractiveness Index (IAI) with 56.59 points out of a possible 100.