The country’s metal production dropped by 23% to P108.21 billion last year – an exact reversal of the growth enjoyed in 2014. The Mines and Geosciences Bureau (MGB) said in a statement that metallic production value in 2015 went down by 23% from 2014’s P140.15 billion. This means 2015’s performance lagged behind by P31.94 billion. This lackluster performance was due to the lower world metal prices brought about by excess supply and weaker global trade, the attached agency of Department of Environment and Natural Resources (DENR) said. DENR said biggest losers in 2015 were the base metals nickel and copper, with shortfalls of 29% and 19%, respectively.
Read more: PH metal production drops as world ore prices decrease
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