Can Philippines become critical minerals powerhouse with help from US, Japan?
To curb China’s dominance in the sector, Manila has to cut red tape and fight corruption to draw US and Japanese investors
A report by the US-based think tank Centre for a New American Security (CNAS) said cooperation between the three countries was central to leveraging the Philippines’ vast potential as a source of critical minerals and rare earths to strengthen Washington’s regional deterrence.
“The United States and Japan are already among the Philippines’ top trading partners, but there are opportunities to enhance trade and investment ties in energy, infrastructure, telecommunications and critical minerals,” it said.
The report, written by CNAS Indo-Pacific Security Programme executive director Lisa Curtis and research assistant Ryan Claffey, said US Secretary of State Marco Rubio, Philippine Foreign Affairs Secretary Maria Theresa Lazaro and then Japanese foreign minister Iwaya Takeshi highlighted critical minerals as a key area for future cooperation in their meeting in Kuala Lumpur last year.