AngMinero
  • Home
  • News
  • Features
  • Business
No Result
View All Result
AngMinero
  • Home
  • News
  • Features
  • Business
No Result
View All Result
AngMinero
No Result
View All Result
Home News

Philex Mining Posts PHP301M Net Income in H1 2025, Eyes Silangan Launch by 2026

AngMinero News by AngMinero News
August 5, 2025
in News
27 1
0
Philex Mining Posts PHP301M Net Income in H1 2025, Eyes Silangan Launch by 2026
84
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Philex Mining Corporation posted a net income of PHP301 million for the first half of 2025, down from PHP329 million in the same period last year, according to a disclosure released on August 4.

The company recorded PHP171 million in net income for the second quarter alone, a decline from PHP215 million in the same quarter of 2024. EBITDA for the first half stood at PHP654 million, which is also lower than the PHP912 million registered a year earlier. Core net income also fell to PHP136 million from PHP410 million in the same period of 2024.

Total operating revenues reached PHP3.76 billion in the first half, slightly lower than the PHP3.97 billion posted last year. Operating costs and expenses rose to PHP3.53 billion from PHP3.47 billion in 2024, attributed to higher depreciation charges.

Philex cited higher average gold prices at USD2,541 per ounce in 1H2025 compared to USD2,008 per ounce in 2Q2024. However, copper prices declined to USD4.19 per pound from USD4.45. Gold production totaled 12,852 ounces for the period, on the other hand copper output was at 9.38 million pounds.

Despite the earnings dip, the company remains optimistic about its ongoing Silangan Copper-Gold Project in Surigao del Norte. Philex President and CEO Eulalio Austin, Jr. said that development work is progressing, with the first metal production targeted by the first quarter of 2026.

“We continue to accelerate development works of the Silangan Project, as we target our first metal production by the first quarter of 2026,” Austin said. “We’ve begun drives at the first production level and are building up ore stockpile from our first production drifts that would feed our process plant, which we aim to commission before the year-end.”

Philex noted that its tailings storage facility is ready to accept waste material before the end of the year, and that the necessary power infrastructure is already in place.

Follow Ang Minero on Facebook and LinkedIn for more updates.

Tags: copper production Philippinesgold production Philippinesmining philippinesPhilex MiningPhilex net income 2025Silangan 2026 launchSilangan Copper-gold project

Related Posts

DENR sets public scoping for proposed Mapawa Gold Project in Surigao del Norte
News

DENR sets public scoping for proposed Mapawa Gold Project in Surigao del Norte

October 28, 2025
De Lima urges House probe into alleged illegal mining in Nueva Vizcaya
News

De Lima urges House probe into alleged illegal mining in Nueva Vizcaya

October 28, 2025
Investors show interest in Philex’s Silangan mine ahead of 2026 launch
News

Investors show interest in Philex’s Silangan mine ahead of 2026 launch

October 27, 2025
President Marcos urges sustainable, law-abiding mining investments in PH
News

President Marcos urges sustainable, law-abiding mining investments in PH

October 27, 2025
Chamber of Mines says reforms can revive PH mining exports
News

Chamber of Mines says reforms can revive PH mining exports

October 27, 2025
FNI legal team earns top honors at 2025 ALB Philippine Law Awards
News

FNI legal team earns top honors at 2025 ALB Philippine Law Awards

October 16, 2025

FEATURED POST

DENR sets public scoping for proposed Mapawa Gold Project in Surigao del Norte

DENR sets public scoping for proposed Mapawa Gold Project in Surigao del Norte

October 28, 2025
De Lima urges House probe into alleged illegal mining in Nueva Vizcaya

De Lima urges House probe into alleged illegal mining in Nueva Vizcaya

October 28, 2025
Investors show interest in Philex’s Silangan mine ahead of 2026 launch

Investors show interest in Philex’s Silangan mine ahead of 2026 launch

October 27, 2025
President Marcos urges sustainable, law-abiding mining investments in PH

President Marcos urges sustainable, law-abiding mining investments in PH

October 27, 2025

EDITOR PICK'S

DENR sets public scoping for proposed Mapawa Gold Project in Surigao del Norte

October 28, 2025

De Lima urges House probe into alleged illegal mining in Nueva Vizcaya

October 28, 2025

Investors show interest in Philex’s Silangan mine ahead of 2026 launch

October 27, 2025

President Marcos urges sustainable, law-abiding mining investments in PH

October 27, 2025

Chamber of Mines says reforms can revive PH mining exports

October 27, 2025

SMPC declares PHP1.25 special cash dividend, total 2025 payout at PHP13.8B

October 20, 2025

FNI legal team earns top honors at 2025 ALB Philippine Law Awards

October 16, 2025

Recent News

DENR sets public scoping for proposed Mapawa Gold Project in Surigao del Norte

DENR sets public scoping for proposed Mapawa Gold Project in Surigao del Norte

October 28, 2025
De Lima urges House probe into alleged illegal mining in Nueva Vizcaya

De Lima urges House probe into alleged illegal mining in Nueva Vizcaya

October 28, 2025

Category

  • Business
  • Features
  • News
  • Uncategorized

Follow us

  • Setup menu at Appearance » Menus and assign menu to Footer Navigation

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In