The Philippines saw a 3.17% increase in metallic mineral production during the first three quarters of 2024, reaching P195.9 billion. Gold remained the top earner, despite a slight decline in production volume. Copper production experienced a significant recovery, while silver production also rose. Nickel and mixed nickel-cobalt sulfide production faced declines due to lower global market prices and reduced demand. Other notable increases included rare metals like chromite.
Metallic mineral production in the Philippines rose 3.17 percent to P195.9 billion in the first three quarters of 2024 from P189.8 billion in the same period in 2023, the Mines and Geosciences Bureau said Tuesday.
Copper production posted recovery, with a 44-percent rise in volume and a 53-percent increase in value, totaling P28.6 billion. Carmen Copper Corp. in Cebu accounted for the majority of copper concentrate production. While nickel remains a significant contributor to the Philippine mining sector, nickel direct ore slipped 21 percent in value to P42.9 billion, while output also dropped 12 percent to 25.7 million dry metric tons in the first nine months of 2024 from 29.2 million DMT during the same period in 2023.
Mixed nickel-cobalt sulfide, a processed product used in high-tech applications such as batteries and electronics, saw similar declines as production volume dropped 8 percent, with 53,875 DMT produced and values decreased 23 percent to P27.9 billion.The decline in nickel and mixed sulfides was attributed to lower global market prices, reduced demand from major export markets and operational challenges such as weather-related disruptions and logistics issues.
Mining Philippines Gold Copper Nickel Rare Metals
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