The Philippine Statistics Authority (PSA) disclosed that the total monetary value of the country's Grade A gold, copper, nickel, and chromite reserves rose 22% in 2022.
The value of Grade A nickel reserves increased from 20.195 billion pesos to 24.625 billion pesos, and that of Grade A chromite reserves recorded 2.2 billion pesos, a sharp increase from 479.69 million pesos in 2021.
At the same time, the A-grade nickel reserves totaled 557.86 million tonnes in 2022, a decrease of 3.2% from 576.38 million tonnes in 2021. PSA said that the decline in nickel reserves was accompanied by a reduction in production from 32.93 million tonnes in 2021 to 28.96 million tonnes in 2022.
Written by Alex Xie, xiehan@mysteel.com
Edited by Aggie Hu, huchenying@mysteel.com