Precious metals production spiked in Q1

MANILA -Elevated prices and higher output of certain metals pushed up metal production in the Philippines in the first quarter of this year, a report from the Mines and Geosciences Bureau (MGB) showed.

The value of metal production reached P58.92 billion in the three months ending March, an increment of 22.83 percent from P47.97 billion in the same period a year ago.

The upbeat performance was inspired by the growth in the volume and value of gold, nickel direct shipping ore and chromite, the MGB said.

Gold clinched the top spot with P27.74 billion, equivalent to a share of 47.08 percent.