Apex Mining Co. Inc. (APX) posted a PHP 5.45-billion consolidated net income in the first nine months of 2025, a 78% increase from PHP 3.07 billion a year ago. This was attributed to stronger gold prices and a steady rise in production.
The parent company alone earned PHP 5.02 billion, up from PHP 2.97 billion last year. For the third quarter, the group’s net income climbed to PHP 2.15 billion from PHP 1.31 billion in the same period in 2024. Consolidated revenues reached PHP 15.48 billion, 43% higher than the previous year’s PHP 10.84 billion.
Apex sold 78,751 ounces of gold and 290,894 ounces of silver during the nine-month period. The company benefited from a 41% increase in average realized gold prices, which rose to USD 3,319 per ounce.
President and CEO Luis R. Sarmiento credited the company’s strong performance to its ability to adapt to global and local market conditions. He said Apex remains focused on safe and responsible operations, noting that its Maco Mine in Davao de Oro resumed production just four days after the October 10 earthquake that briefly halted mining activities.
According to Senior Vice President Billy G. Torres, the Maco Mine has enough reserves to operate until 2034 at its current capacity of 3,000 tons per day. Ongoing upgrades will increase capacity to 3,500 tons per day, while exploration work continues to expand reserves.
The company also completed the acquisition of Asia-Alliance Mining Resources, whose gold vein extensions connect with Maco’s deposits, and is finalizing pre-operation permits for the 434-hectare APSA 103 expansion project under its subsidiary Itogon-Suyoc Resources Inc. in Benguet.
Apex Mining was also among only five Philippine firms included in Forbes Asia’s “Best Under a Billion” list for 2025, recognizing its strong financial performance and regional competitiveness.
Do you think Apex’s recent expansion moves will secure its place among Asia’s top-performing mining companies?
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