MANILA, Philippines —
The Mines and Geosciences Bureau said the country’s metal production was valued at P249 billion in 2023, buoyed by higher gold and nickel output.Data showed that gold was the top contributor to the overall production at P106.64 billion, followed by nickel ore at P65.84 billion. Toledo, however, noted that nickel has been experiencing a slowdown in demand due to the weakening of China’s economy.
The situation is worsened by China’s weak demand for nickel due to its economic slowdown, Bravo said.
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