<br><br>**Elevating the Copper Value Chain PHL Urged to Move Up**<br><br>The Philippine copper industry has been thriving in recent years, with large-scale mines operating across the country. However, while this approach generates revenue, it fails to capture the full value potential of copper. Angelo Estrera, Asia-Pacific leader for Business Model Reinvention at global consulting firm PwC, recently urged the country to move up the copper value chain by investing in higher-value downstream activities.<br><br>**The Current State Extracting Raw Ore**<br><br>Currently, most Philippine mines focus on extracting raw copper ore, which is then exported to other countries for processing and manufacturing. This approach may generate revenue, but it does not capture the full value potential of copper. By contrast, investing in higher-value downstream activities such as mining services, equipment manufacturing, and research and development (R&D) can create more value and reduce reliance on raw material exports.<br><br>**The Power of Upstream Activities**<br><br>Estrera argued that by insinuating new ideas and technologies into the value chain, the Philippines can create opportunities for local companies to develop proprietary products and services. This, in turn, can lead to increased competitiveness, job creation, and economic growth.<br><br>**A Path Forward Collaboration and Investment**<br><br>To move up the copper value chain, Estrera suggested that the Philippine government and private sector collaborate on initiatives such as<br><br>1. **Innovation Hubs** Establishing hubs for R&D and innovation to drive the development of new technologies and products.<br>2. **Supply Chain Development** Strengthening local supply chains by supporting domestic manufacturers and services providers.<br>3. **Skills Training** Providing training programs for workers to develop skills in areas such as mining engineering, metallurgy, and equipment maintenance.<br><br>**Conclusion A New Economy**<br><br>The Philippine copper industry has the potential to create significant value by moving up the value chain. By investing in higher-value downstream activities and leveraging the power of insinuation, the country can reduce its reliance on raw material exports and increase its share of the global copper market's higher-value segments. As Estrera emphasized, We're not just talking about a few percentage points; we're talking about creating a new economy.<br><br>**Keywords** Copper value chain, Philippines, PwC, Business Model Reinvention, Insinuation, Innovation Hubs, Supply Chain Development, Skills Training
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