PH economy seen growing 6-7% in 2022
by Philippine Resources - January 12, 2022
Photo credit: Make it Makati
The Philippine economy is expected to return to its 6 to 7-percent growth trajectory in 2022 after nearly two years of grappling with the pandemic despite the threat of the Omicron variant, according to the investment banking arm of the Metrobank Group.
First Metro Investment Corporation (FMIC) said this year’s economic growth will be driven by sustained domestic demand, easing inflation, election expenditures, and accelerated government spending on infrastructure projects.
“Notwithstanding the ongoing pandemic, and Omicron sparking the third wave of infections, we are still optimistic that Philippine growth will further accelerate and get back on its trajectory of 6-7 percent in 2022,” FMIC president Jose Patricio Dumlao said in a virtual briefing Tuesday.
Dumlao said the economy registered a 4.9-percent growth in the first three quarters of 2021 and the growth momentum likely spilled over in the fourth quarter given further economic reopening and easing mobility restrictions.
He added business and consumer confidence are also cautiously positive given wider availability of vaccines and relaxation of lockdowns, quarantine measures, and mobility restrictions.
University of Asia and the Pacific (UA&P) economist Dr. Victor Abola said the 6 to 7 percent gross domestic product (GDP) projection this year will be led by the industry sector --both construction and manufacturing.
Abola said services will still be the lagging sector as the pandemic measures hit hotels and restaurants.
“The Philippine situation is that there is recovery but still on the way to reach the pre-pandemic levels,” he said.
The country’s GDP posted a -9.5 percent full-year growth rate in 2020 compared to its 5.9 percent pre-pandemic performance in 2019.
Abola said the business process outsourcing (BPO) is a major contributor to the resiliency of the economy amid the pandemic.
“And it’s not the same as usual call centers, etc. You can see there are new, emerging segments and that is what companies are focusing on,” he said, citing insurance, life sciences, healthcare, and data analytics, among others.
Aside from BPO revenues, FMIC chairman Francisco Sebastian said the overseas Filipino workers (OFW) remittances are boosting the economy.
“These two things are not as sexy as other things like technology and telecoms… This is what is holding us up. OFW remittances continue to grow,” he said. By Leslie Gatpolintan
Article courtesy of the Philippine News Agency
Marcelle P. Villegas - January 22, 2022
Senator De Lima passed a resolution against lifting of open-pit mining ban
Before the year ended, DENR Secretary Roy Cimatu signed the Department Administrative Order (DAO) No. 2021-40 that lifts the ban on open-pit mining. The order was passed last 23rd of December 2021. This covers mining for copper, gold, silver and other complex ores. DENR made this decision with hopes to revive the mining industry so it may once again provide job opportunities in rural areas. This decision was a response to counter the economic downturn that resulted from the global pandemic.
Philippine Resources - January 21, 2022
WIDENING OF LAWTON AVENUE IN TAGUIG CITY FINISHED BY Q2 OF 2022
Photo credit: Department of Public Works and Highways The Department of Public Works and Highways (DPWH) has fast-tracked the widening works at Fort Bonifacio-Nichols Field Road or Lawton Avenue in Taguig City to meet its target completion by the second quarter of 2022. “As the government increases mobility in Metro Manila amid the pandemic, this project is vital in addressing traffic woes experienced by motorists,” said DPWH Secretary Roger G. Mercado during project inspection on Thursday, January 20, 2022, along with Senior Undersecretary Rafael C. Yabut, Assistant Secretary Wilfredo S. Mallari and National Capital Region (NCR) Director Nomer Abel P. Canlas. The road widening has three phases with the 1.34-meter Phase 1 traversing from 5th Avenue to Bayani Road completed and opened to the public on November 17, 2020. “We are keen in expediting the completion of the remaining two phases of the project with Phase 2 covering 1,100 lineal meters from Bayani Road to Philippine Navy and Phase 3 covering 240 lineal meters from Philippine Navy to Pasong Tamo Extension,” said Secretary Mercado. Once fully completed, the 3.1-kilometer, four (4)-lane Lawton Avenue will be converted into a six (6)-lane thoroughfare that can accommodate influx of vehicles traversing the area and will help decongest traffic in nearby Epifanio delos Santos Avenue (EDSA), South Superhighway and C-5 Road. It will also complement the 961.427-lineal meter Bonifacio Global City-Ortigas Center Link Road Project which has improved access to and from the cities of Taguig, Pasig, Makati and Mandaluyong. The widening of the Lawton Avenue is part of the EDSA Decongestion Program, one of the flagship projects of the Duterte administration under the Build Build Build Program.
Philippine Resources - January 19, 2022
Vulco® R67 mill lining rubber compound is revolutionising mine site mill operations
Photo: Inside the discharge end of a ball mill being fitted with spiral lifters and rubber grates. Vulco® R67 mill liners last significantly longer and deliver a measurable reduction in mill downtime, installation and maintenance costs. Vulco® rubber is renowned throughout the mining industry for its exceptional wear life and reliability in mill lining systems. These abrasion- and impact-resistant rubber compounds have been developed with advanced technologies by the Weir Minerals’ team of expert engineers and material scientists who are continually refining Vulco® rubber products to keep them at the forefront of mill lining systems technology. Having identified a need for higher-wearing rubbers for mill lining systems, the material science experts commenced developing an industry leading, premium-grade rubber compound with superior wear life and performance in mill lining applications. The result was the Vulco® R67 rubber – an optimum material which is manufactured with proprietary new compounds and innovative methods of processing to deliver outstanding wear life and longer uptime. Extensive field research, compound testing and site trials were conducted to ensure that it was not only able to withstand severe abrasion in typical mill system applications, but that it is best in class. In fact, it has been the most wear-resistant rubber compound that Weir Minerals has ever developed for mill lining applications. The R67 compound boasts a high hardness, elongation, tensile and tear strength, and is suitable for lifter bars, head/shell plates and grates. When it’s utilised in conjunction with metal cap mill liners, the result is a versatile, economical and efficient product that weighs up to 50% less than steel alone. The added benefit is a lighter product that’s faster, easier and safer to install. Revolutionising wear lining Since its launch in 2018, many mining operators from around the globe have implemented the R67 compound into their mill lining systems. They have reported as much as 20-40% improvement in wear life, which is resulting in fewer mill lining replacements and longer mill campaigns. This reduction in shutdowns has a dual benefit of increased cost savings and improved plant availability. What are the benefits for the mill operators? With a liner that can run significantly longer, operators have experienced a wide range of benefits including: Improved wear life A measurable reduction in mill downtime Increased uptime and processing Easier and safer installations Reduced maintenance costs In addition to this, the mines benefit from having an experienced and dedicated team from Weir Minerals who custom-engineer the liners to suit each mill’s unique requirements for optimal wear life. Global in-field success The R67 elastomer compound is changing the way mills operate - with exceptional results. Extensive global trials and commercial installations in the market have resulted in a number of successful outcomes across a variety of different grinding applications. From mines in the USA to Chile, the R67 has proven its outstanding performance consistently. As an example, a high-grade nickel and copper mining project in the USA had a problem where the liners in one ball mill were wearing out too quickly, leading to continued downtime and reduced processing. They were looking for a product significantly superior to the elastomer that they were using. Initially there was reluctance from the mine, as they had loyalty to their original mill supplier, however after Weir Minerals conducted a series of trajectory simulations and discreet modelling - to optimise the design and deliver the best process performance for the mill, they agreed to trial the R67 liners. At the end of the trial the R67 showed 30-40% better performance than the incumbent liners and the customer installed a full set of R67 liners in their mill. Another trial in the USA took place in an iron ore mine with several dozen ball mills in operation. Here, Vulco® R67 liners delivered a 17% increase in life compared to the failed shell plates from the mine’s original mill lining system supplier. The company was extremely impressed with the results and installed a complete shell liner in their ball mill. Moving to Chile, a copper mine was keen to trial the R67 compound to see if they could improve the wear time of a competitor rubber liner. After a three-month trial, all liners were physically measured showing that the Vulco® R67 liners fully worn wear life projected from the actual wear would be 80% longer compared to the incumbent liners. Another copper processing plant in Chile trialled R67 composite liners in their SAG mill against two other compounds that are commonly used in the industry. After 12 months, there was a 48% and 62% wear life improvement on the other liners – proving that the R67 composite liners could withstand the highly abrasive environment. Helping customers optimise their process As leaders in material technology, Weir Minerals are continuously undertaking research and development to provide best-in-class products to mining customers, while helping them improve their bottom line. When using Vulco® R67 rubber compounds, our customers can feel assured they have a market-leading product that is backed by decades of experience, expertise, and proven effectiveness. This innovative rubber compound not only delivers superior physical and viscoelastic properties but is also a lighter and safer material to use. Where can you find Vulco® R67? Vulco R67® mill liners are made exclusively at Weir Minerals facilities in North and South America, Australia and South Africa, with plans to expand production into more regions in the future.