Caritas Philippines opposes the Maharlika Investment Corporation’s (MIC) decision to invest in large-scale mining through a $76.4-million loan to Makilala Mining Company Inc. for the Maalinao-Caigutan-Biyog Copper-Gold Project in Kalinga province. This decision contradicts the Maharlika Fund’s purpose to spur economic growth while threatening communities and undermining responsible stewardship.
Caritas Philippines President Bishop Jose Colin Bagaforo expressed concern over using public funds to finance an industry that has caused damage to ecosystems. “This move by the Maharlika Fund betrays the Filipino people’s trust. Instead of supporting industries that promote development and sustainability, the government is channeling resources into extractive projects linked to displacement, deforestation, and human rights abuses,” Bishop Bagaforo stated.
Caritas Philippines has opposed large-scale mining due to its social and environmental impacts. The Catholic Church has documented cases of indigenous peoples losing ancestral lands, contaminated water sources, and communities suffering from irresponsible mining operations. “How can we claim to work for progress when we fund an industry that destroys the resources God has entrusted to us?” said Bishop Gerardo Alminaza, Vice President of Caritas Philippines.
The investment raises concerns about transparency within the Maharlika Fund. The MIC’s mandate is to promote national development, yet its involvement in mining deepens fears that the fund serves the interests of a few at the expense of many. This decision highlights the need for public scrutiny and accountability mechanisms.
Caritas Philippines calls on the government to reconsider this investment and prioritize industries that uplift communities without compromising the environment. We urge civil society, faith-based organizations, and Filipinos to remain vigilant against destructive extractive industries.
“Economic development should not come at the cost of human dignity and environmental degradation. We remain committed to upholding the integrity of creation and defending those affected by mining,” Bishop Bagaforo emphasized.
Caritas Philippines continues advocating for policies promoting social justice, environmental protection, and sustainable development. We call on the Maharlika Investment Corporation to withdraw its mining investment and align its strategies with responsible governance and care for our common home.