Metallic mineral production value remained upbeat during the first three-quarters of 2022 vis-à-vis 2021 from PhP136.21 billion to PhP175.61 billion, a growth of PhP39.79 billion or 29.21%.
The important factors for this development were the bullish metal prices of nickel ore and gold paired with the increased mine output of gold, silver, chromite, and iron ore during the period. Nickel ore enjoyed a 47.21% or US$3.84 increment from US$8.13 per lb. to US$11.97 per lb. year-on-year. Based on the Bangko Sentral Ng Pilipinas (BSP) price bulletin gold stepped up with a US$24.51 or 1.36% increase from US$1,801.97 per troy ounce to US$1,826.47 per troy ounce year-on-year. While both silver and copper dip by 14.84% and 0.64%, respectively.