AngMinero
  • Home
  • News
  • Features
  • Business
No Result
View All Result
AngMinero
  • Home
  • News
  • Features
  • Business
No Result
View All Result
AngMinero
No Result
View All Result
Home Business

MGB: PH metallic mineral production up 30%

AngMinero News by AngMinero News
December 6, 2022
in Business, News
26 2
0
MGB speeds up formalization of small-scale mining operators
84
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

The country’s metallic output value expanded by around 30% in the first nine months of the year amid higher output and prices of nickel and gold, the Mines and Geosciences Bureau (MGB) said.

The country’s mineral production value for the first three quarters of the year is Php 175.61 billion, which is Php 39.79 billion (29.21%) more than last year’s Php 136.21 billion.

“Important factors for this development were the bullish metal prices of nickel ore and gold paired with the increased mine output of gold, silver, chromite, and iron ore during the period,” MGB said in a statement.

Prices of nickel ore went up by 47.2% to $11.97 per pound, which MGB stated as above the 2018-2021 levels.

China is the country’s major trading partner for nickel ore.

Meanwhile, Gold’s nine-month average went up from $1,809.97 per troy ounce to $1,826.47, even after its third-quarter average price is lower on a year-on-year basis.

Silver and copper prices also declined by 14.84% and 0.64%, respectively.

MGB data stated that nickel ore, which includes by-products like mixed nickel-cobalt sulfide and scandium oxalate, has the largest share at Php 49.4%, contributing Php 86.94 billion.

Meanwhile, gold contributed 38.32% or Php67.45 billion. While copper accounted for 10.79% or Php18.99 billion.

“Overall, there was a remarkable increase in the value of mineral commodities year-on- year,” MGB said.

Tags: GoldMGBmines and geosciences bureaunickelNickel ore

Related Posts

Cagayan Valley DENR Chief Commends Mining Firms for Reforestation Investment
News

Cagayan Valley DENR Chief Commends Mining Firms for Reforestation Investment

June 24, 2025
Masbate Mine Solar Shift to Save PHP 150M, Cut 8,500 Tons of CO₂ Annually
News

Masbate Mine Solar Shift to Save PHP 150M, Cut 8,500 Tons of CO₂ Annually

June 23, 2025
DMC Ensures Responsible Mining and Tree Replanting in Cagayan Valley
News

DMC Ensures Responsible Mining and Tree Replanting in Cagayan Valley

June 17, 2025
Lepanto Net Income Soars to PHP659 Million on Gold Output Growth, High Prices
News

Lepanto Net Income Soars to PHP659 Million on Gold Output Growth, High Prices

June 17, 2025
OGPI Strengthens Local Ties with PHP48.5M Remittance to Nueva Vizcaya
News

OceanaGold Allocates PHP280 Million for Exploration in Didipio Area

June 17, 2025
PNIA seeks to join int’l industry group
News

PNIA Welcomes Removal of Ore Export Ban in Final Mining Fiscal Reform Bill

June 17, 2025

FEATURED POST

Cagayan Valley DENR Chief Commends Mining Firms for Reforestation Investment

Cagayan Valley DENR Chief Commends Mining Firms for Reforestation Investment

June 24, 2025
SMPC Earns Gold in FinanceAsia Awards for Outstanding Corporate Governance and Management

SMPC Earns Gold in FinanceAsia Awards for Outstanding Corporate Governance and Management

June 23, 2025
Responsible Mining Pays Off: Apex Mining Wins Regional Bronze for Best-Managed Company

Responsible Mining Pays Off: Apex Mining Wins Regional Bronze for Best-Managed Company

June 23, 2025
Masbate Mine Solar Shift to Save PHP 150M, Cut 8,500 Tons of CO₂ Annually

Masbate Mine Solar Shift to Save PHP 150M, Cut 8,500 Tons of CO₂ Annually

June 23, 2025

EDITOR PICK'S

Cagayan Valley DENR Chief Commends Mining Firms for Reforestation Investment

June 24, 2025

SMPC Earns Gold in FinanceAsia Awards for Outstanding Corporate Governance and Management

June 23, 2025

Responsible Mining Pays Off: Apex Mining Wins Regional Bronze for Best-Managed Company

June 23, 2025

Masbate Mine Solar Shift to Save PHP 150M, Cut 8,500 Tons of CO₂ Annually

June 23, 2025

DMC Ensures Responsible Mining and Tree Replanting in Cagayan Valley

June 17, 2025

Lepanto Net Income Soars to PHP659 Million on Gold Output Growth, High Prices

June 17, 2025

OceanaGold Allocates PHP280 Million for Exploration in Didipio Area

June 17, 2025

Recent News

Cagayan Valley DENR Chief Commends Mining Firms for Reforestation Investment

Cagayan Valley DENR Chief Commends Mining Firms for Reforestation Investment

June 24, 2025
SMPC Earns Gold in FinanceAsia Awards for Outstanding Corporate Governance and Management

SMPC Earns Gold in FinanceAsia Awards for Outstanding Corporate Governance and Management

June 23, 2025

Category

  • Business
  • Features
  • News
  • Uncategorized

Follow us

  • Setup menu at Appearance » Menus and assign menu to Footer Navigation

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In