In 2024, the Philippines was second-ranked producer of nickel, accounting for 9.5% of global production, and seventh-ranked producer of cobalt, accounting for an estimated 1.0% of global production. Other mineral commodities produced included chromium, copper, gold, iron ore, perlite, scandium, silver, steel, and zeolites.
The mining and quarrying sector contributed 0.9% to the gross domestic product (GDP). The legislative framework for the mineral sector is provided by the Philippine Mining Act of 1995 (Republic Act No. 7942), including its Implementing Rules and Regulations. The Mines and Geosciences Bureau under the Department of Environment and Natural Resources oversees the mineral industry. Production of metals was dominated by privately owned domestic and foreign enterprises under mineral production-sharing agreements with the Government.
In 2024, the contribution of the mining and quarrying sector to the Philippine GDP, the sector’s output growth rate, and net foreign direct investment in the sector decreased compared with 2023. The total production quantity of gold, nickel, and copper, which accounted for 98% of production value, also decreased. The Government sought to ease foreign ownership limits to improve the sector’s limited financial and technical capacity and public utilities issues. To overcome the headwinds, the mineral industry facilitated sectoral growth through production increase, resumption of mining activities, an initial public offering, reserve extensions, mine-design optimization, and commissioning of new facilities.
