Philippines is the fifth most mineral-rich country in the world for gold, nickel, copper, and chromite. It is home to the largest copper-gold deposit in the world. The Mines and Geosciences Bureau has estimated that the country has an estimated $840 billion worth of untapped mineral wealth.
All mineral resources in public and private lands within the territory and exclusive economic zone of the Republic of the Philippines are owned by the State. The State is responsible for promoting rational exploration, development, utilization and conservation through the combined efforts of government and the private sector in order to enhance national growth in a way that effectively safeguards the environment and protect the rights of affected communities.