Philippines metallic mineral production value dropped by PhP8.23 billion, from PhP123.01 billion in H1 2023 to PhP114.77 billion in H1 2024.
The telling factor for this lackluster performance was the continued decline in mine output of gold, and nickel ore, together with processed products mixed sulfide and scandium oxalate. Not to mention the sluggish price of nickel and other nickel products. Nickel prices decreased by 27.67% from US$10.98 per pound to US7.94 per pound, year-on-year.