The value of the country’s metallic mineral production for the first quarter rose by 14.11 percent to P28.91 billion from P25.34 billion in the same period last year, the Mines and Geosciences Bureau reported (MGB).
The sustained bullish run of metal prices continued to boost mining firms’ revenues despite disruptions brought about by the pandemic, with gold, nickel and copper enjoying record prices.
MGB records showed that the price of the precious yellow metal averaged $1,802 per troy ounce, up from $1,584 a year ago.
Three-month averages for copper and nickel likewise grew by 50 percent and 38 percent, respectively, to $8,479 a ton and $17,625 a ton.
Overall, nickel contin…
Keep on reading: Value of PH metal output up by 14% in Q1