Policy and national interest purpose
- The instructions direct government oversight of copper export shipments.
- The instructions require monitoring to ensure exports do not hamper the sufficient and continuous supply of copper concentrates to PASAR.
- The copper smelter project undertaken by Philippine Associated Smelting and Refining Corporation (PASAR) is identified as a major industrial project for the country’s industrial development.
- Marketing agreements with PASAR require copper mining companies to supply PASAR’s copper concentrate requirements.
Core export clearance requirement
- The Ministry of Trade and Industry (MTI) must require all copper exporters to obtain prior MTI clearance before making any copper export shipments.
- The MTI must issue clearance only when the proposed export shipment does not adversely affect the supply and delivery of copper concentrates to PASAR.
Central Bank condition for export clearance
- The Central Bank of the Philippines must require the MTI clearance as a condition for the issuance of an export clearance to copper concentrate exporters.
MTI implementation authority
- The MTI must issue the rules and regulations necessary to implement the instructions.