Production value of the metallic Mineral Sector stood tall as it posted a 51% gain

A comparative production value of the metallic mineral sector stood tall during the period October 2006 to September 2007 as it posted a whooping 51% gain from P40.64 billion (P40,638, 093, 933.00) from January to September 2006 to P61.40 billion (P61, 400,869, 645.00) from October 2006 to September 2007, a P20.76 billion increment, with most of its sub-sector enjoying positive growth rates.

The factor that spearheaded the impressive showing is the constant improvement in world metal prices which began to take off in September of 2006.

In terms of percent price growth rates, 2006 vis-à-vis 2007 nickel registered the highest with 86.83% gain from $9.66/lb to $18.05/lb; closely followed by silver with 16.94%; gold is next with 11.67% and copper at 6.41%.

In terms of percent contribution to the metallic production value gold sub-sector dominated the scene accounting for 49.48% or P30.38 billion. Not far behind is nickel sub-sector contributing 39.02% or P23.96 billion; copper sub-sector hand in 9.22% or P5.66 billion; while the three remaining sub-sectors namely: silver, chromite and zinc sub-sectors turned in a total of 2.28% share or P1.40 billion. (Summary / MGB Metallic Mineral Production Review, January – September 2007)