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Philippines 2017 nickel output down by 6pct

Metal News - Published on Wed, 21 Feb 2018

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Reuters reported that nickel ore output in the Philippines, the world’s top supplier, dropped 6% last year as several mines were under maintenance or temporarily closed due to environmental issues. The Mines and Geosciences Bureau said in a report that thirteen of the country’s 30 nickel mines had no output last year.

The Southeast Asian country’s output of nickel ore, most of which is shipped to China to make stainless steel, totaled 23.35 million dry metric tonnes compared with 24.95 million DMT in 2016.

Gold output fell 2 percent to 22,699 kilograms, while silver production was down 10 percent at 31,748 kgs.

Production of copper concentrate dropped 16 percent to 280,394 DMT.

The MGB said that the country’s metal output last year was valued at 108.64 billion pesos (USD 2.08 billion), up 5.7 percent from the previous year as prices rose amid tight supply and robust demand.

Mining is a contentious issue in the Philippines, which has vast but largely undeveloped mineral wealth, because of environmental mismanagement by some miners.

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Posted By : Amom Remju on Wed, 21 Feb 2018
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