Posted on 12 Sep 2023
Philippine nickel ore production surged 40.4% on-year to nearly 16.87 million dry metric tonnes in the first half of the year, expanding rapidly from an increase of just 5.4% in the first quarter, Kallanish notes.
Meanwhile, the value of nickel ore jumped 18.2% to over PHP 31.7 billion ($559 million). This revealed that the average nickel price was down 15.8% on-year at PHP 1,880/dry metric tonne, according to the Mines and Geosciences Bureau.
Nickel ore thus was the second contributor to the total metallic production value with a share of about a quarter after gold’s 41.6%.
Of the 33 nickel mines, 6 recorded no production, and 4 resumed production from zero a year earlier. Taganito Nickel Project headed the list with 2.43m dmt of output, followed by Rio Tuba Nickel Project’s 2.12m dmt.
In addition, the country produced 56,131t of iron ore, an increase of 17.4% from the year-ago level. This was fully contributed by Ore Asia Mining & Development Corporation. The estimated average value was up 10.4% to PHP 3,294/dmt.
Source:Kallanish
