Metal production down 11.6% in Q1
The value of metallic minerals produced in the Philippines fell 11.6 percent year-on-year to about P22.1 billion in the first quarter amid a slump in prices, according to the Mines and Geosciences Bureau (MGB).
In a production report, the MGB said gold regained the top spot as direct shipping of nickel ore and mixed sulfide slipped after four years of dominance.
Gold output—which accounted for 48 percent of total first-quarter production, surged in value by 22 percent to P10.68 billion. Also, gold volume jumped by 14 percent to 5,890 kilograms.
Top producers during the quarter were the Masbate project of Filminera Mining Corp./Philippine Gold Processing and Refining Corp. (with 1,650 kilos), and the Didipio project of Oceana Gold Philippines Inc. in Nueva Vizcaya (1,456 kilos).
Also, nickel ore and mixed nickel-cobalt sulfide accounted for 31 percent of output value, respectively falling 49 percent to P3.1 billion and 24 percent to P3.8 billion.
Copper output represented one-fifth of total value at P4.34 billion, with a decline of 11 percent in value despite volume rising 16 percent to 92,561 dry metric tons.
“The slow start of mine production of direct shipping nickel ore for the year was attributed to the unfavorable weather condition that generally prevailed in the areas of Dinagat and Surigao provinces,” the MGB said.
“To date, 17 companies operate in the said provinces (and) 12 reported zero production for the first quarter,” the bureau added. “A nickel mining operation, being surface mining, is always vulnerable to the weather condition.”
As for the remainder, silver saw output value surge 27 percent to P186.1 million while chromite plunged 83 percent to P6.7 million.
The Philippines’ sole iron ore producer, Ore Asia Mining and Development Corp. in Bulacan, “reported zero iron ore production during the period.”
Earlier this month, the bureau announced the suspension of Ore Asia’s activities for violations of environmental regulations.
