Philippines Metal Production Dropped 18.85% in 2012

MANILA, PHILIPPINES--January 4, 2013--Researched by Industrial Info Resources (Sugar Land, Texas)--The value of metallic mineral production in the Philippines recorded a significant drop in 2012, from $2.4 billion in 2011 to $1.95 billion at the end of 2012 financial year, a total of 18.85%. The country's Mines and Geosciences Bureau (MGB) said the decrease is caused by the suspension of production in several mines across the country and a corresponding decrease in the activities of Bangko Sentral ng Pilipinas (BSP), the central bank of the Republic of the Philippines and a major gold buyer. Other companies featured: St. Augustine Gold & Copper Limited (TSX:SAU)