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Metal prices to rebound

Metal prices in the world market will recover in 2019 as more mining companies give value on cost and savings management, an international mining and metals market expert said Thursday.

“Mining companies are facing multiple threats such as slower demand growth, flexible competitors, new low-cost production and competition in managing project costs,” metals market expect Julia Ralph said during the Mining Philippines 2015 Conference & Exhibition at Solaire Resort in Parañaque City.

Ralph said while metal prices remained low, the key is “limited, sustainable and cyclical cost savings” or simply put, managing production cost.

Chamber of Mines of the Philippines president Philip Romualdez said threats such as the flexibility of certain competitors as well as the competition in managing project costs were something the mining industry and the government could work together on, if the country would still want to be a prime mining investment destination.

“The Philippine government must help current and prospective mining projects and investors manage costs and be flexible amidst competition by ensuring there is stability and consistency in mining policies and regulations, especially in the fiscal regime,” Romualdez said.

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