RP nickel ore output drops 12 pct in Jan-Sept

Reuters

Posted at Dec 04 2008 09:41 PM | Updated as of Dec 05 2008 05:41 AM

Nickel ore output in the Philippines dropped 12 percent in the first nine months of the year from the same period in 2007 amid flagging world prices,  government data showed.

Demand for metals has cooled amid the global economic slowdown, with the price of nickel on the London Metal Exchange falling to below $9,000 a tonne in October, the lowest in more than five years.

Following is a summary of the Philippines' metallic mineral production for January-September provided by the government's Mines and Geosciences Bureau:

 

MINERAL

VOLUME

 

%age CHANGE

 

Jan-Sept ‘08

Jan-Sept ‘07

 

Gold

28,062 KGS

29,798 KGS

-6

Silver

11,113 KGS

23,662 KGS

-53

Copper concentrate

68,359 DMT

65,528 DMT

4

Nickel ore

5,216,733 DMT

5,915,261 DMT

-12

Zinc

625 DMT

12,790 DMT

-95