Metallic mineral production value incurred an 8% shortfall in 2016 from PhP109.84 billion in 2015 to PhP100.56 billion, lower by PhP9.28 billion. Poor base metal price, string of mine suspension and mine imposed non-operations due to unfavorable weather conditions, low metal price and/or maintenance status catapulted the metallic sector to its lacklusterperformance.
In terms of percentage contribution to the total production-value, gold continued to dominate the production scene in 2016 accounting for 44% or PhP44.85 billion of the total metallic minerals production value. While nickel direct shipping ore togetherwith mixed nickel-cobalt sulfide took the second spot with 37% or PhP36.84 billion followed by copper with 18% or PhP17.76 billion. The remaining 1% or PhP1.11 billion came from the consolidated output of silver, chromite and iron ore.
The PhP10.88 billion gain in the combined production value of gold and silver in 2016 due to the growth in mine production coupled with improved metal price of gold and silverwas not sufficient to offset the substantial PhP16.00 billion decline in the production value of copper and nickel. Nickel direct shipping ore production volume and value alone, went down by 23% and 41%, respectively, from 32,076,948 dry metric tons valued at PhP36.60 billion in 2015 to 24,652,913 dry metric tons valued at PhP21.77 billionin 2016.
It is important to note that of the twenty-eight (28) nickel mines,seven (7) are currently in suspended status and four (4) temporarily stopped their respective mine operations. The total production of nickel direct shipping ore of this group in 2014 was about 5,237,416 dry metric tons with an estimated value of about PhP8 billion.
- Published: 07 February 2017