Philippine-listed mining company Apex Mining Co. saw its net income surge 77 percent in 2025, reaching ₱7.66 billion, up from ₱4.32 billion in 2024. The jump was mainly driven by higher gold and silver prices, the company reported to the Philippine Stock Exchange on Tuesday.
The average gold price in 2025 climbed 45 percent to $3,531 per ounce, although total gold sales slightly fell 4 percent to 100,425 ounces. Silver sales rose 4 percent to 365,007 ounces, with prices up 50 percent to US$43.04 per ounce.
Consolidated revenues also grew to ₱21.34 billion from ₱15.1 billion, generated from gold and silver sales.
Apex Mining president and CEO Luis Sarmiento said the company has been reinvesting earnings into operations, exploration, new equipment, and strengthening its balance sheet. He added that expansion plans are continuing while maintaining prudent spending to safeguard cash flow.
The company operates the Maco gold mine in Davao de Oro and the Sangilo mine in Itogon, Benguet through its subsidiary, Itogon-Suyoc Resources. CFO Billy Torres highlighted that the fully owned subsidiary acquired in 2023, Asia-Alliance Mining Resources Corp., offers additional growth opportunities.
