The metallic mineral production value kicked off the year with a 36.21% or PhP12.92 billion growth from PhP35.69 billion in Q1 2021 to PhP48.61 billion in Q1 2022.  Once again the bullish metal price during the period pushed the industry to this optimistic performance, coupled with the increase in the mine production of gold, silver, and copper.

Among the prices of metal, nickel was at an unparalleled level at US$28,089.77 per metric ton from a US$17,625.46 per metric ton, year-on-year, more than 59% or a US$10,464 increase.  Copper followed with an almost 18% growth from US$8,478.58 per metric ton to US$9,986.01 per metric ton, year-on-year while the yellow metal enjoyed a US$73 increase from US$1,801.86 per troy ounce to US$1,874.91 per troy ounce. We are seeing prices of metals at heights way beyond their pre-pandemic levels. 

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