Various metals are vital in any civilization because it supports several industries that preserve their longevity and survivability. Without these metals, societies wouldn’t be able to enjoy the comforts they have today.
It’s this very reason why governments across the globe invest heavily in the mining industry and secure the ores they need to build infrastructures, technology, and more. This 2022, the Philippines fortified its mining efforts to get the most from it.
Early this year, the Philippines’ local industry regulator shared that the country will expect a dozen new metal mines in commercial operation, most of them being nickel projects. Moreover, the Philippine Mines and Geology Bureau reported that the country’s nickel production totalled 386,359 in the previous year, with a 17 percent increase and the highest in six years.
Global Ferronickel Holdings Inc. president Dante Bravo believes the additions to nickel mining would increase the country’s ore production, even though existing local nickel miners were already performing outstandingly.
However, local mining companies still faced challenges due to rising fuel prices, inflation, labor shortages, supply chain bottlenecks, and increasing freight rates.
Nevertheless, local mining companies persevered and kept the industry at a steady positive rate.
During the fourth quarter of the year, Department of Environment and Natural Resources Secretary Maria Antonia Yulo-Loyzaga expected the mining sector to remain on its projected course with an upbeat performance.
Since the beginning of the year, the value of Philippine metal production has been on the upside. It implies the industry’s recovery from inconsistencies in the rules governing the mining sector.
MGB also reported earlier that metal production reached P48.61B in the first quarter, representing an expansion of 36.21 percent. The value of metal production surged by 39.42 percent to P112.66B during the first semester. By September, the MGB said the local metallic mineral production grew by 29.21 percent to P175.61B.
The local government is also looking at the mining sector’s potential to drive the country’s economic growth through more small-scale mining sites. According to MGB, “it is the government’s strategy [for] an orderly, systematic, and ecologically balanced administration and disposition of small-scale mining areas.”
Yet aside from intensifying mining production, the country also enforced strict mining laws throughout the year, under the initiative of President Ferdinand “Bongbong” Marcos Jr.
He recently ordered the DENR to reinforce its regulatory powers on small and large-scale mining to ensure that standards are updated and that mining firms strictly implement their respective safety and health programs for workers.
Marcos certified several bills on mining safety as urgent to prevent losses during their time on the field.
Indeed, 2022 has been an eventful and fruitful year for the Philippines’ mining industry. Something which local players are ecstatic to see despite inflation, the pandemic, and other struggles.
The Philippines’ mining industry is eyeing to enter 2023 with a positive outlook, thanks to its outstanding performance in 2022. Besides fortifying its metal production, from common ores to metallic minerals, it also aims to welcome small-scale players while securing the miners’ safety.
