Philippine’s mining sector accounted for 0.6pc of the country’s gross domestic product (GDP) growth last year which equals almost P102.3bn ($2bn), according to the Mines and Geosciences Bureau (MGB).
Nickel ore and other nickel by-products accounted for 47.12pc equalling P13.62bn of the total GDP. Copper accounted for 11.51pc at P3.33bn while iron ore accounted for less than 1pc at P254.92mn of the country’s total GDP.
MGB further added the Philippines’ total value of metallic mineral production, which included nickel ore, mixed nickel-cobalt sulfide, chromite, and iron ore accounted for P132.69bn while the total value of exported mineral products accounted for P261.1bn ($5.2bn).
Additionally, the mining sector also added nearly 184,000 jobs in the country, MGB stated.
($1 = P50.22)