Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Philippines’ total mineral production in Q1 2021 increased by 14.11pc to P28.91bn ($724.8mn) compared to P25.34bn in Q1 2020, according to Philippine Nickel Industry Association (PNIA).


PNIA quoted the Mines and Geosciences Bureau (MGB) and stated that the country’s mining sector managed to pull through the pandemic with great performances mainly led by nickel while metals like copper and iron ore showed declines in productions. 


The contribution of nickel and nickel ore products to the total metallic mineral production value in the Philippines accounted for 47.12pc to P13.62bn compared to other metals in Q1 2021. The total production volume of nickel increased by 48pc to 3.57mn mt in Q1 2021 compared to 2.41mn mt in Q1 2020, PNIA stated. 


In 2020, the country’s total metal production value grew by 1.13pc to P132.21bn compared to P130.74bn in 2019 where copper accounted for 11.25pc of the total mineral production value last year. 


$1 = P39.89


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