Phl mineral output to sustain growth

Driven by strong global demand for gold, copper

- JASPER EMMANUEL ARCALAS

The value of the country’s mineral output this year is expected to surpass last year’s P249 billion, driven by the rising demand for gold amid persisting geopolitical tensions, according to an industry group.

Chamber of Mines of the Philippines chairman Michael Toledo said mining companies are expanding due to higher global demand for key metals, particularly gold and copper.

“A lot of people are going to gold because it is a safe haven. (With) the problems happening in Ukraine, in Palestine and of course even in the Red Sea, (people will go to gold),” Toledo told reporters recently.

“And then, copper, at the end of the day, would really be a crucial component for renewables,” Toledo said.