BIZ BUZZ: Go for gold

In a world of constant change, some things remain golden—like gold that continues to shine as a safe-haven investment.

Billionaire Manuel V. Pangilinan believes now is the best time for the Philippine mining sector to capitalize more on the strong demand for metals, particularly gold and nickel.

“The world’s continuing to be in flux. Gold is a safe haven, right?” Pangilinan said on the sidelines of Philex Mining Corp.’s annual stockholders’ meeting.

“I think the impact of electric vehicles also will impact well on metals in general, particularly nickel and gold,” said Pangilinan, chair of Philex Mining.

For Pangilinan, the continued demand for metals is a win-win not just for the mining sector but for the Philippines as well.

“We should really encourage mining, the mining firms to get going,” he added.

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And with the mining sector ushering in a new era, the tycoon expressed his willingness to work closely with the new environment secretary, Raphael Lotilla, to unlock the industry’s full potential.

“Well, he’s a competent person. We’re glad that he’s there from the energy department and hopefully we can work with him. I think we can work well with him,” Pangilinan said.