Mineros 1Q 2026 Net Income Soars 104% Year-on-Year
Medellin-based multinational gold miner Mineros SA announced May 6 that its first quarter (1Q) 2026 net income rose 104% year-on-year, to COP$324 billion (US$87 million), versus COP$159 billion (US$42 million) in 1Q 2025.
Revenues also jumped 61% year-on-year, to COP$1.08 trillion (US$290 million), versus COP$671 billion (US$180 million) in 1Q 2025.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) likewiise rose 116% year-on-year, to COP$571 billion (US$154 million), with an adjusted EBITDA margin of 53%, according to the company.
The soaring revenues were “driven by a record average realized gold price of US$4,777 per ounce (a 66% increase versus 1Q 2025) and strong production growth — 60,785 ounces of gold equivalent, a 10% increase from 55,124 ounces-equivalent in 1Q 2025,” according to the company.
Corporate cash and gold-backed assets also rose, “reflecting the company’s strategy of retaining direct exposure to physical gold during a period of high inflation and currency stability uncertainty,” according to Mineros.
Nicaragua gold production during 1Q 2026 totaled 37,941 ounces, while Colombian alluvial operations yielded19,909 ounces of gold, accodring to the ocmpany.
Meanwhile, corporate sales of produced silver rose 109% year-on-year, to 161,766 ounces, “at a record average realized price of US$87/oz (a 164% increase from 1Q 2025), reflecting the continued optimization of silver recovery at the Hemco [Nicaragua] processing plant,” according to Mineros.
Cash cost per ounce of gold sold came-in at US$2,002, “below the lower end of the company’s 2026 guidance range, reflecting cost discipline in an environment of rising BMP [best mining practices] input prices,” the company added.
On another major front, Mineros signed a new gold-exploration project deal in Tolima, Colombia, “which, as reported by AngloGold Ashanti PLC in December 2024, hosts a historical mineral resource estimate of 23.35 million ounces of gold in the ‘Indicated Mineral Resources’ category and 4.98 million ounces of gold in the ‘Inferred Mineral Resources’ category,” according to Mineros.
