THE Didipio Copper Gold Project of OceanaGold Philippines Inc. is the country’s biggest contributor to the country’s metals output in 2014, generating P13.68 billion worth of copper, gold and silver, a report of the Mines and Geosciences Bureau (MGB) of the Department of Environment and Natural Resources (DENR) revealed.
The Didipio Copper Gold Project is situated in Nueva Vizcaya and Quirino province.
The MGB listed the top 8 mining projects in 2014 based on the mineral production output last year.
Toledo Copper Operations (Carmen and Lutopan Projects) of Carmen Copper Corp., which also produces copper, gold and silver in Cebu, came in second to Didipio, producing a total of P11.9 billion worth of the said metals combined.
Cagdiano Nickel Project of Patinum Group Metals Inc., which operates a nickel mine in Surigao del Norte, came in third, producing a total of P11.27 billion. Coral Bay HPAL Project of Coral Bay Nickel Corp., which produces mixed nickel-cobalt sulfide in Palawan, earned P11.23 billion to place fourth.
Padcal Copper-Gold Project of Philex Mining Corp., which produces copper, gold and silver in Benguet, generated a total of P10.67 billion worth of the said metals; Masbate Gold Project of Philippines Gold Processing and Refining Corp., which produces gold and silver in its Masbate mine, contributed P10.2 billion; Taganito HPAL Project of Taganito HPAL Nickel Corp., which produces mixed nickel-cobalt sulfide in Surigao del Norte, contributed P9.08 billion, while Claver Nickel Project of Taganito Mining Corp. was eighth in the list for producing P8.79 billion worth of nickel from its operation in Surigao del Norte last year.
Most of these mines, except for Didipio, operate under a Minerals Processing Sharing Agreement awarded by the government.
The MGB reported that metallic production value rose substantially last year from P99.38 billion in 2013 to P137.53 billion, representing a 38-percent growth, or P38.15-billion increase. Nickel direct shipping ore and mixed nickel-cobalt sulfide accounted for 58.05 percent, or P79.84 billion, of the total production value. Gold is in far second with 23.97 percent, or P32.97 billion. Copper followed with 16.55 percent, or P22.76 billion. Silver, chromite and iron attributed for the remaining 1.42 percent, or P1.96 billion. Except for nickel, metals prices continue to drop, affecting global production of gold, silver and copper.
There are currently 47 operating mines in the Philippines, 27 of which are nickel mines. Last month the MGB gave Philex Mining Corp.’s Silangan Project permit to advance to development and operating phase.