On Sept. 2, the Bureau of Mines, Geology and Minerals of the Philippines (MGB) released mineral data for the first half of the year. Output value of metal minerals rose 24.50 percent to 68.63 billion pesos in the first six months of 2021 from 55.13 billion pesos in the same period last year, the data showed.
The government agency attributed this to the continued strength of metal prices during the period. Nickel, the base metal, accounts for 40% of that. In terms of contribution to the value of metals, nickel and its products accounted for 53.44% or 36.68 billion pesos, followed by gold and copper in third place.
Among them, nickel and its nickel products continue to lead production in the first half of the year, contributing more than 53% of the national output value. Further breakdown, nickel directly transported ore accounted for 58% or P21.42 billion, while mixed nickel-cobalt sulfide bid 41% or P15.07 billion. Nickel mine output increased from 109,471 tons to 151,646 tons, an increase of 39 percent. Nickel rose to $17,490.15 a tonne from $12,473.17.
The top three producers in the first half were Taganito Mining Corporation (TMC) with 28,935 tonnes, followed by Rio Tuba Nickel Mining Corporation (RTNMC) with 25,301 tonnes, Platinum Group Metals Corporation (PGMC), production 12,977 tons.
Of the Philippines' total land area of 30 million, only about 2.55 percent, or 763,899.75 hectares, is covered by mining rights, according to MGB. Breaking it down further, only 8.49% of the 9 million hectares identified as having high mineral potential were covered by mining rights. This significantly means that 91.51% of the land identified as having high mineral potential remains to be developed.
