A surge in gold valuations lifted the estimated worth of the Philippines’ mineral reserves in 2025, highlighting how global commodity prices increasingly shape the economic value of the country’s resource base even as reserve volumes and production trends remain mixed.
Data from the Philippine Statistics Authority (PSA) showed the value of gold reserves jumped 42 percent to P308.79 billion in 2025 from P218.04 billion a year earlier. The increase came despite a 5-percent decline in Class A gold reserves to 371,260 kilograms and a 3-percent drop in gold extraction to 19,550 kilograms.
The divergence underscores the dominant role of market pricing in driving mineral asset values. With gold benefiting from strong global demand amid economic uncertainty and sustained central bank buying, higher prices more than compensated for lower domestic reserve volumes.
Gold overtook nickel as the country’s most valuable mineral asset. Nickel reserves were valued at P217.74 billion, down 1 percent from 2024 as reserve volumes contracted by 5 percent to 632.79 million dry metric tons. However, nickel extraction rose 7 percent to 30.42 million DMT, reflecting continued demand from stainless steel producers and the global electric vehicle supply chain.
Copper reserves posted a marginal increase in value to P60.50 billion, up 0.2 percent from a year earlier, although both reserves and production declined. Copper output fell 13 percent, pointing to weaker production activity despite favorable long-term demand prospects linked to electrification, renewable energy projects, and grid expansion.
Chromite remained a relatively small contributor to the country’s mineral portfolio, with reserve value plunging 19 percent to P1.10 billion amid lower extraction and shrinking reserves.
Overall, gold, nickel, copper, and chromite generated P68.25 billion in resource rent in 2025, equivalent to 0.24 percent of GDP.
The latest figures suggest that while the sector continues to benefit from strong commodity markets, sustaining mineral wealth over the long term will depend not only on prices but also on reserve replacement, investment, and production growth.
