Demand for metals to sustain mining industry’s growth-MGB

MANILA, Philippines – The Philippine mining industry is set for sustained growth amid rising global demand for strategic metals and higher commodity prices, according to the Mines and Geosciences Bureau (MGB).

“Overall, the Philippine mining industry outlook remains favorable, particularly for nickel, gold, copper, and other critical minerals that support the global energy transition,” the MGB said in a statement.

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“The industry is expected to continue expanding as global demand for strategic minerals increases and commodity prices remain supportive,” it added.

The MGB said growth will depend on its capability to enhance downstream processing and value addition, as well as improve operational efficiency despite increasing costs.

The industry must balance economic growth with environmental protection, strengthen environmental, social and governance (ESG) compliance, and promote responsible mining to unlock its full potential. Sustained growth will also depend on stable, transparent and investor-friendly policies and regulations.

“If these conditions are sustained, the Philippines will strengthen its position as key supplier of critical minerals and enhance its competitiveness as a mining investment destination in the region,” it added.

Based on MGB Data, the country’s metal production increased by 28.6 percent to P82.78 billion in the first quarter of 2026.

“The increase was mainly driven by higher metal prices and improved output in selected mineral commodities, particularly nickel ore, mixed nickel-cobalt sulfide and scandium oxalate,” the MGB said.

Precious metals gold and silver comprised 66.6 percent of the overall output, equivalent to P55.13 billion.

Nickel ore, along with nickel-cobalt mixed sulfide and scandium oxalate, came second with a market share of 25.2 percent or P20.89 billion. Copper ranked third with 7.7 percent or P6.36 billion.

Gold production was valued at P53.78 billion, up 31.2 percent. Gold prices averaged $4,889.39 per troy ounce, surging by 71.1 percent.

However, the yellow metal’s production volume declined by 24.7 percent to 5,850 kilograms.

The value of silver production climbed by 82.7 percent to P1.35 billion. Its prices soared 165.72 percent to $84.58 per troy ounce, although its volume decreased by 20.9 percent to 9,896 kg.

Both the quantity and value of copper concentrate dropped by 19.4 percent and 7.4 percent, respectively, ending at 47,920 dry metric tons (DMT) and P6.4 billion.

Nickel ore expanded by 59.7 percent to 4.58 million DMT, while its value climbed by 52.4 percent to P10.69 billion.

Meanwhile, scandium oxalate exhibited a substantial growth of 261.6 percent to P71.03 million. Total output grew by 257.5 percent to 4,159 dry kilograms. /pai INQ