The social action arm of the Catholic Church in the Philippines has condemned the Maharlika Investment Corporation’s (MIC) decision to fund large-scale mining, calling it a betrayal of public trust.
Caritas Philippines issued a statement on Monday opposing MIC’s $76.4-million loan to Makilala Mining Company Inc. for the Maalinao-Caigutan-Biyog Copper-Gold Project in Kalinga province.
The organization warned that this investment contradicts the fund’s stated purpose of economic growth while endangering communities and the environment.
Bishop Jose Colin Bagaforo of Kidapawan, president of Caritas Philippines, criticized the use of public funds for mining, an industry known for its environmental and social impacts.
“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,” the prelate said.
The Catholic Church in the Philippines has long opposed large-scale mining, citing documented cases of Indigenous communities losing ancestral lands, contaminated water sources, and environmental destruction.
Bishop Gerardo Alminaza of San Carlos, vice president of Caritas Philippines, questioned the rationale behind the investment. “How can we claim to work for progress when we fund an industry that destroys the resources God has entrusted to us?” he said.
Beyond environmental concerns, the investment also raises issues of transparency within the Maharlika Fund.
The Marcos Jr. administration claimed that the MIC was established to promote national development, but its involvement in mining has heightened fears that it serves the interests of a few at the expense of many.
Caritas Philippines emphasized the need for greater public scrutiny and accountability mechanisms. It is calling on the government to reconsider the investment and instead prioritize industries that uplift communities without harming the environment.
It also urged civil society, faith-based organizations, and the public to remain vigilant against destructive extractive projects.
“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 said.
Caritas Philippines called on MIC to withdraw its mining investment and align its strategies with responsible governance and care for the environment.
