Lofty gold prices boost PH metal output value
The country’s metal sector posted a stronger performance in the first half of 2026 as lofty commodity prices made up for the slump in the production of gold and silver, data from the Mines and Geosciences Bureau (MGB) showed.
The MGB reported the value of metal production climbed 41.4 percent to P202.18 billion in the January-to-June period from P142.99 billion in the same period a year ago.
“The first-half results show strong sector resilience; a 41-percent jump in total production value to P202 billion proves that elevated global commodity prices (especially for gold and silver) comfortably offset lower physical volumes,” Michael Toledo, chair of the Chamber of Mines of the Philippines, said in a Viber message on Friday.
“Mine output routinely fluctuates due to operational factors like ore grading, mine sequencing, maintenance schedules and weather,” Toledo added.
Gold cornered more than half of the overall mineral output, with a market share of 56.6 percent. Nickel ore and mixed nickel-cobalt sulfide came next with 20.7 percent and 13.8 percent, respectively.
Gold output value rose by 42.4 percent to P114.5 billion. However, the volume of production decreased by 12.6 percent to 12,771 kilograms.
According to a report from Reuters, spot gold prices slipped by 0.5 percent to $4,576.30 per ounce on Friday, ahead of Federal Reserve Chair Kevin Warsh’s keynote speech at the Jackson Hole symposium.
MGB data noted that about P2.48 billion worth of silver was produced during the period, reflecting a 77.4-percent growth. By volume, silver production reached 18,607 kilograms, down 22.8 percent.
Nickel ore production value surged by 47.5 percent to P42.18 billion, while its output volume reached 19.24 million dry metric tons (DMT), up 25.6 percent.
Mixed nickel-cobalt sulfide output value increased by 55.2 percent to P27.96 billion, but production volume dipped by 2.1 percent to 37,711 DMT.
Meanwhile, the sector produced P13.85-billion worth of copper concentrate, representing a 1.4-percent increase in value, although its output volume was slightly down to 120,586 DMT.
Toledo said the sector’s performance throughout the year remains favorable, depending on stable market prices and operating environments.
“While we expect operational upticks in the second half, we cannot predict full volume recovery nationwide as this would be premature. However, the value outlook for the sector remains very favorable as long as market prices and operating environments remain stable,” he said.
