Apex Mining Co. Inc. reported a 40 percent rise in its consolidated net income for the first nine months of 2026, reaching ₱7.61 billion from the ₱5.45 billion posted in the same period last year, the company announced Tuesday.
Consolidated revenues come from gold and silver sales at two key sites — the Maco Mine in Davao de Oro and the Sangilo Mine in Itogon, Benguet. While the company sold less gold by volume this year, record gold prices more than made up the difference. Gold sales reached 65,691 ounces at an average realized price of $4,528 per ounce, compared with 78,751 ounces sold a year earlier at $3,319 per ounce. Silver followed a similar trend: sales hit 229,746 ounces at $72.89 per ounce, down from 290,894 ounces in 2025 but at nearly double the price.
Strong earnings have also translated into bigger contributions to communities hosting the mines. Remittances for surface rights and Indigenous Peoples royalties climbed 55 percent to ₱221.21 million in the January–September period, up from the previous year, delivering direct financial benefits to local stakeholders.
Looking ahead, the company confirmed its Maco Mine has proven reserves sufficient to sustain operations through 2034 at a production rate of 3,000 tons per day. Upgrades to processing plant infrastructure have lifted capacity to 3,500 tons daily, while ongoing exploration work seeks to expand the mine’s resource base further.
In other developments, subsidiary Asia Alliance Mining Resources Corp. is moving forward with community consultations in Davao de Oro to secure Free and Prior Informed Consent for a new copper and gold mine, with operations targeted to begin in 2029. Meanwhile, affiliate Itogon-Suyoc Resources Inc. continues final permitting for its 434-hectare APSA 103 project in Benguet, having already obtained community consent compliance. Once approved, the new facility would operate at 1,000 to 1,500 tons per day, expanding the company’s long-term production footprint across the country.
