Metallic mineral output value hits P111 billion in 2010
MANILA, Philippines - The value of metallic mineral production for 2010 amounted to P111,087,422,928, up by 39 percent compared to the P79,661,130,208 recorded in 2009.
According to the Mines and Geosciences Bureau, the higher production value is due to the increase in the prices of gold which is now almost $1,500 per ounce, as well as nickel and other metals.
Precious metal production – specifically gold and silver – increased 34 percent to P71,698,391,862 in 2010 from P53,484,238,695 in 2009.
Base metals production value increased 50 percent to P39,389,031,066 in 2010 from P26,176,891,513 in 2009.
Gold production alone amounted to 40,847 kilograms with a value of P70,508,198,235, increasing 34 percent in value compared to the P52,767,768,760 produced in 2009 although production quantity in 2010 grew only 10 percent compared to the 37,047 kilograms produced in 2009.
Primary gold producers include Philippine Gold Processing and Refining Corp. (Masbate Gold); Philsaga Mining Corp. (Banahaw Gold); Apex Mining Co. Inc. (Apex Maco); Lepanto Consolidated Mining Corp. (Victoria Gold); Benguet Corp. (Acupan contract Mining); Johnson Gold Mining Corp. (Paracale Gold); Lepanto Consolidated (Teresa Gold); Philippine Mining Development Corp. (Diwalwal), and gold purchased by the Bangko Sentral ng Pilipinas from various small gold producers.
Nickel production last year increased 59 percent in volume while value improved 87 percent compared to 2009.
Production of direct shipping ore (DSO) last year increased to 13,172,543 dry metric tons (DMT) with a value of P13,198,076,764 compared to 2009’s production volume of 8,283,110 DMT with a value of P7,070,134,160.
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