Razon-led Apex Mining Co. Inc. posted a profit of more than ₱7 billion in 2025 on the back of higher gold prices, providing the company more leeway to expand operations and widen cash dividends.

In a statement, Apex Mining reported that its net income reached ₱7.66 billion last year, up 77 percent from ₱4.32 billion in 2024.

The company's revenues rose by 41 percent to ₱21.34 billion in 2025, up from ₱15.1 billion in the previous year.

The revenues cover the sale of both gold and silver from its Maco mine in Davao de Oro and Sangilo mine in Benguet, which is operated by its fully owned subsidiary, Itogon-Suyoc Resources Inc.

While gold sales fell to 100,425 ounces last year, the average realized price of the metal increased by 45 percent to $3,351 per ounce from $2,436 per ounce during the year before.

For silver, the company saw sales jump to 365,007 ounces from 350,151 ounces, with realized prices surging by half to $43.04 per ounce from ₱28.63 per ounce.

Luis Sarmiento, president and chief executive officer of Apex Mining, said higher earnings last year will enable the company to focus on expanding its mining operations.

He said this would be achievable through the exploration and development of new ore sources, alongside the acquisition of new machinery and equipment.

Another growth opportunity lies in the mining firm’s subsidiary, Asia-Alliance Mining Resources Corp., which is currently not operating any mines.

"Despite the current uncertainties in the global arena, our expansion plans are proceeding smoothly,” Sarmiento said.

Following last year’s strong performance, he said Apex Mining would double the cash dividend for shareholders from 10 percent to 20 percent.

The company approved a regular cash dividend and a special cash dividend, for a total payout of ₱3.38 billion.

“The increase in cash dividend payout manifests the company's commitment to continuously provide value to its shareholders,” said Sarmiento.

Apex Mining initially declared cash dividends in 2022, totaling ₱65.7 million, based on the company's net income after tax of ₱657 million in the prior year.

The company’s stock has grown almost 600 percent from January 2020 to April 2025. For the first two months of the year, the stock price peaked at ₱17.68 per share.