MGB: Ph produced Php161B worth of minerals in 2021

The country produced Php160.9 billion worth of metallic minerals in 2021, a 20.3% increase from 2020’s Php133.7 billion, the Department of Environment and Natural Resources’ (DENR) Mines and Geosciences Bureau (MGB) reported.

Based on a report by the Philippine Daily Inquirer, MGB attributed the increase to the strong metal price and higher production of nickel ore.

Like in the past years, nickel has contributed the most to the country’s mining industry with an earning’s share of 55.6% or Php89.5 billion. Meanwhile, gold and copper contributed Php52.5 billion and Php17.3 billion, respectively. Silver, iron ore, and chromite accounted for Php1.65 billion.

Production-wise, the volume of nickel ore in direct shipping increased by 23% to 32,877,858 dry metric tons with a value of Php 56.3 billion. Meanwhile, gold shipped 18,392 kilograms with a Php52.5 billion value, while silver shipped 30,856 kg with a Php 1.2 billion value.

The MGB had also said that 12 new metallic mines, which are mostly nickel projects, will begin commercial operations this year, indicating a “bright outlook” for the mining industry.

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MGB: Ph produced Php161B worth of minerals in 2021

Strong metal prices and higher nickel ore production were the major factors.

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