The monetary value of the Philippines' commercially recoverable gold, copper, nickel and chromite reserves rose 17.6 percent to P588.12 billion in 2025, driven mainly by higher gold prices, even as the physical stock of most mineral reserves declined, according to the Philippine Statistics Authority (PSA).
Data from the PSA's latest Mineral Asset Accounts showed the total value of the country's Class A mineral reserves increased from P500.20 billion in 2024.
Gold leads value surge
Gold accounted for the largest share of the increase, with the value of reserves jumping 41.6 percent to P308.79 billion in 2025 from P218.04 billion a year earlier. Copper reserves were valued at P60.50 billion, up slightly by 0.2 percent from P60.39 billion.
In contrast, the value of nickel reserves slipped 1.2 percent to P217.74 billion, while chromite reserves declined 19.1 percent to P1.10 billion.
The PSA said the combined resource rent from the four minerals reached P68.25 billion, equivalent to 0.24 percent of the country's gross domestic product (GDP) in 2025.
Physical mineral reserves decline
Despite the higher monetary value, the country's physical mineral reserves continued to shrink.
Gold reserves fell 4.9 percent to 371.26 thousand kilograms (kg) from 390.53 thousand kg in 2024, while gold extraction declined 2.7 percent to 19.55 thousand kg.
Copper reserves decreased 1.1 percent to 4.14 million metric tons (MT), with extraction dropping 13.3 percent to 46.08 thousand MT.
Nickel reserves likewise declined 4.5 percent to 632.79 million dry metric tons (DMT). However, nickel extraction increased 7.4 percent to 30.42 million DMT, indicating stronger mining activity despite the lower reserve base.
Meanwhile, chromite reserves edged down 0.1 percent to 66.29 million MT, while extraction fell to 48.03 thousand MT from 63.02 thousand MT in the previous year.
Definition and scope
The PSA noted that Class A reserves refer to commercially recoverable mineral resources that have been confirmed to be economically viable under an established development project or mining operation.
The mineral accounts currently cover gold, copper, nickel and chromite but exclude the Bangsamoro Autonomous Region in Muslim Mindanao due to data limitations.
