Singapore (VNA) – The Philippines saw metal production falling nearly 11 percent to24.86 billion peso (490 million USD) in the first quarter of this year due tothe COVID-19 pandemic, data from the Mines and Geosciences Bureau (MGB) showed.
The lacklusterstart was attributed mainly to the disruption in the operations of miningprojects throughout the country amid the pandemic where movements of people and supplies wererestricted, the MGB said.
There was alsozero production at one of thecountry’s major mining projects, Didipio Gold Project of OceanaGold Philippineslocated in Nueva Vizcaya, it explained.
Gold led thetotal metallic mineral production value with a 43 percent share at 10.66billion peso (20 million USD), down 13 percent from a year earlier.
It wasfollowed by the nickel group which accounted for 41 percent of the totalproduction value during the period.
Revenues fromcopper production, which accounts for 15 percent of the total, fell 27 percent to 3.69 billion peso, mainlybecause of a 9-percent drop in copper price to 5,651.25 USD pertonne.
The productionvalue of silver decreased 22 percent to 170 million peso as production fell 25percent to over 6.33 tonnes.
Out of the 29listed operating nickel mines, 11 reported their production while all theremaining 18 were either under care and maintenance programmé or reported zero production due to unfavorableweather conditions./.
The lacklusterstart was attributed mainly to the disruption in the operations of miningprojects throughout the country amid the pandemic where movements of people and supplies wererestricted, the MGB said.
There was alsozero production at one of thecountry’s major mining projects, Didipio Gold Project of OceanaGold Philippineslocated in Nueva Vizcaya, it explained.
Gold led thetotal metallic mineral production value with a 43 percent share at 10.66billion peso (20 million USD), down 13 percent from a year earlier.
It wasfollowed by the nickel group which accounted for 41 percent of the totalproduction value during the period.
Revenues fromcopper production, which accounts for 15 percent of the total, fell 27 percent to 3.69 billion peso, mainlybecause of a 9-percent drop in copper price to 5,651.25 USD pertonne.
The productionvalue of silver decreased 22 percent to 170 million peso as production fell 25percent to over 6.33 tonnes.
Out of the 29listed operating nickel mines, 11 reported their production while all theremaining 18 were either under care and maintenance programmé or reported zero production due to unfavorableweather conditions./.
VNA
