How is the mineral trade in the post-colonial area?

During the pre-colonization era, the mining industry of the Philippines started to rise as forty gold mines were opened for operation. Before World War II, the country was already producing around 40 metric tons of mineral products, and as the war commenced, gold became the third key export product after agricultural goods. While gold is a lucrative export good of the Philippines being traded in the international market, nickel also has a high demand in other states, especially in China and Japan. Nickel is an element found with iron, and it can be extracted from open mine pits. The process of extracting nickel is through smelting or applying intense heat for the ore to be separated from the mineral. Countries rich in nickel include Indonesia, the Philippines, Canada, and New Caledonia. In the present time, nickel trade in the global market is experiencing surpluses and low prices. According to Mizzi, Maurice, and Anders (1987), this is due to the changes in policies of top nickel producers and a general decline in market development.

The post How is the mineral trade in the post-colonial area? appeared first on interaksyonph.