Friday, October 16, 2020

PH gold, silver production dips

JANUARY TO  June volume and value of locally produced precious metals, gold, and silver, have decreased this year as compared to the same period in 2019.   

The Philippine gold production volume for the year totaled 8,246 kilograms (kg) only -- down by 27 percent from 11,252 kg. last year, based on the latest available data from the Mines and Geosciences Bureau (MGB).

Silver production volume also decreased by 30 percent to 11,764 kg. this year from 16,768 kg. in 2019.

MGB data further showed gold production value dipped amounting to PHP22.12 billion in 2020, 10 percent lower than last year's PHP24.52 billion.

The production value for silver also shrank by 26 percent to PHP309.58 million this year from 2019's PHP419.24 million. (By Catherine Teves)