The value of the country’s metal production surged by 31.73 percent to P238.05 billion in 2022 from P180.71 billion the year prior, as domestic production expanded even as global metal prices softened, according to the Mines and Geosciences Bureau.
Copper and silver prices, however, inched down in 2022. Copper was priced at $4 per pound, down by 4.98 percent from $4.21 per pound while that of silver dropped by 14.49 percent to $21.76 per troy ounce from $25.45 per troy ounce.In terms of production, the volume of nickel direct shipping ore decreased by 11 percent to 29.26 million dry metric tons from 32.93 million DMT “due to the production shortfall incurred by most nickel projects.
Gold output, on the other hand, climbed by 15 percent to 29,007 kilograms from 25,332 kg. Silver soared by 82 percent to 56,227 kg from 30,856 kg.Nickel continues to dominate the country’s metallic production scene with output worth P117.58 billion, accounting for 49.39 percent of total output. INQYour subscription has been successful.
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