PH-EITI Beneficial Ownership Transparency supports Philippine Mining Oversight, DENR-MGB backs
Manila, Philippines – August 20, 2026
By: Tricia Nicole Garcia
The Philippine Extractive Industries Transparency Initiative (PH-EITI), together with EITI International, Open Partnership, and other government agencies, convened a webinar on beneficial ownership transparency and oversight of extractive licensing processes to strengthen the practical use of ownership information in promoting transparency, accountability, and integrity in the country’s extractive sector on August 18, via Zoom.
Department of Environment and Natural Resources (DENR) Assistant
Secretary Michael Cabalda on his opening remarks. (Zoom screenshot)
The discussion focused on the Philippine mining sector, following the passage of Republic Act No. 12253, the Enhanced Fiscal Regime for Large-Scale Metallic Mining. In his welcome remarks, Department of Environment and Natural Resources (DENR) Assistant Secretary Michael Cabalda highlighted the relevance of beneficial ownership information in strengthening licensing, regulatory, and oversight processes in the mining sector.
“This discussion is particularly timely following the passage of Republic Act No. 12253, the Enhanced Fiscal Regime for Large-Scale Metallic Mining, which further strengthens transparency and accountability in our mining sector. It is in this context [that] beneficial ownership information can play an important role in strengthening our licensing, regulatory and oversight processes,” Asec. Cabalda stated.
Following the introduction of EITI, it serves as the global benchmark for transparency in oil, gas, and minerals. It is part of a global effort to establish transparency as the norm in the extractive sectors by disclosing information across the value chain to governments, industry, and civil society.
According to EITI, it operates through a mix of disclosure and dialogue, with full disclosure of the legal framework, extraction decisions, exploration and production, and revenue collection related to extractive activities.
Beneficial Ownership implementation in the Philippines began as an Anti-Money Laundering (AML) and counter-terrorism financing initiative, which regulated the mandatory collection of beneficial ownership data. The Philippines passed the New Government Procurement Act in 2024 that contains essential provisions around Beneficial Ownership Transparency (BOT) that would hold people liable for every peso spent.
With the New Government Procurement Act, the disclosure of beneficial ownership information of bidders will bring more transparency around the procurement process. With this, the BOT was also used in tax, which made the Philippines accede to the Organisation for Economic Co-operation and Development (OECD) exchange of information request.
Philippine Extractive Industries Transparency Initiative (PH-EITI) National Coordinator
Mary Ann Rodolfo highlighting the beneficial ownership transparency impact. (Zoom screenshot)
PH-EITI National Coordinator, Mary Ann Rodolfo shared that beneficial ownership in the Philippines goes beyond disclosure and compliance. Through the EITI process, it embeds BOT in law, policy, and practice. This includes the Securities and Exchange Commission (SEC) Memorandum Circular No. 15, Series of 2025, which established the requirements for beneficial ownership declarations through a general information sheet (GIS). The circular required companies to disclose information to identify the real individuals who own or control companies.
“A major milestone is the data sharing agreement between Philippine EITI and the Securities and Exchange Commission, which strengthens PHE-EITI’s access to relevant corporate ownership information while observing applicable data privacy and protection requirements. This integration allows us to cross-check and validate information, strengthen data quality, and support more effective analysis of ownership structures and potential risks in the extractive sector,” Rodolfo stated.
Department of Environment and Natural Resources – Mines and Geosciences Bureau (DENR-MGB) aims to monitor the granted licenses. Specifically for mineral agreements, which state that a certain juridical entity that has met the citizenship requirement is being linked to a control test. A control test on beneficial ownership determines the number of shares, actual shares, ownership, and voting rights, as a natural person can be identified as the beneficial owner.
A government-led, multi-stakeholder initiative implementing EITI, the global standard that promotes the open, accountable management, and good governance of oil, gas, and mineral resources. PH-EITI was created on 26 November 2013 through EO No. 147, s. of 2013. It is a government commitment first announced through EO No. 79, s. of 2012.