Metallic mineral output hits record P301 billion in 2025

METALLIC MINERAL production last year rose 18.2% to a record P301.32 billion, driven by a sharp increase in gold prices.

Citing preliminary data, the Mines and Geosciences Bureau said gold accounted for 54.33% of the value of metallic production despite a decline in volume.

Gold production slipped 8.8% year on year to 26,325 kilos. However, higher global prices lifted the total value of gold output by 29.6% to P163.7 billion.

Gold prices averaged $3,442 per troy ounce in 2025, up 44.14% from a year earlier, according to the World Bank.

“The rally in recent months has been driven largely by investment demand, supported by a combination of geopolitical tensions, macroeconomic concerns, and heightened policy uncertainty, reinforced by a weaker dollar and recent US monetary policy easing,” the World Bank said in an October outlook report.

Silver production fell 17.5% last year to 44,599 kilos. However, higher prices drove the total value of silver output to P3.11 billion, up 7%.

Global silver prices averaged $39.8 per troy ounce last year, up 40.64%, according to the World Bank.

“Silver prices have also risen to record levels, reflecting the metal’s dual roles as a safe-haven asset and a key input in fast-growing renewable energy applications,” the World Bank said.

Meanwhile, the nickel ore output rose 5.6% to 37.81 million dry metric tons (DMT). The value of nickel production grew 18.2% to P69.36 billion.

The World Bank said global nickel prices averaged $15,162 per metric ton (MT) last year, 9.83% lower.

Copper concentrate production declined 9.7% to 231,885 DMT. Copper output in metal equivalent fell 13.3% to 46,084 MT.

Firmer copper prices helped cushion the impact on overall value. The total value of copper output slipped 2.2% to P26.63 billion.

The World Bank said global copper prices averaged $9,947 per MT, 8.81% higher. — Vonn Andrei E. Villamiel