Apex Mining Co. Inc. delivered a gleaming performance this year, posting a consolidated net income of P5.45 billion for the first nine months — up 78 percent or P2.38 billion from last year’s P3.07 billion. The third quarter alone contributed a hefty P2.15 billion, compared to P1.31 billion a year earlier.
Revenues also climbed 43 percent to P15.48 billion, driven by higher gold prices and a stronger U.S. dollar. The company’s Maco Mine in Davao de Oro and ISRI’s Sangilo Mine in Benguet continued to be its twin revenue pillars, selling 78,751 ounces of gold and 290,894 ounces of silver in the first nine months. The realized gold price surged to USD3,319 per ounce, a 41 percent leap from 2024.
Despite a 7.6-magnitude earthquake in Davao that briefly halted operations in October, Apex Mining resumed within four days after safety clearance, underscoring its operational resilience. “Our rapid assessment confirmed zero damage,” said President and Chief Executive Officer Luis R. Sarmiento, emphasizing the firm’s commitment to safe, responsible mining.
Finance Senior Vice President Billy G. Torres added that the Maco Mine’s reserves can sustain operations until 2034, with plant upgrades underway to boost daily capacity to 3,500 tons. Expansion also continues through Asia-Alliance Mining Resources and the APSA 103 project in Benguet, now community-cleared for development.
