Mineros SA 1Q 2025 Net Profit Jumps 127% Year-on-Year
Medellin-based international gold mining giant Mineros SA announced May 8 that its first quarter (1Q) 2025 net income soared 173% year-on-year, to a record US$38 million, up from US$21 million in 1Q 2024.
Revenues for 1Q 2025 likewise jumped by 41% year-on.year, to a record US$160.5 million, while adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 75%, to US$71 million, according to the company.
Colombia alluvial gold production rose 21% year-on-year, to 23,244 ounces, while Nicaraguan gold mining production dipped 5% year-on-year, to 54,243 ounces. Average realized price per ounce of gold sold was US$2,881, up 21% year-on-year.
As for silver production, output came-in at 77,259 ounces down 68% from the 1Q 2024.
Commenting on the results, Mineros CEO David Londoño stated: “From a financial perspective, record gold prices provided us with another record for revenues and profits.
“From an operational perspective our Hemco Property [in Nicaragua] is running smoothly and our partnership with artisanal miners under the Bonanza model continues to deliver excellent results.
“Cash costs and all-in sustaining costs were below guidance for Nechí [Antioquia alluvial production] and above the higher end of guidance for Hemco because of the very strong gold price,” he added.
Cash cost per ounce of gold sold during 1Q 2025 was $1,437, up 22%, while all-in sustaining costs (AISC) per ounce of gold sold was $1,685, up 19%, due to higher gold prices.
As for the remainder of 2025, Mineros expects corporate-wide gold production at between 201,000 and 223,000 ounces, “building on the consistent performance of our Nicaragua underground mines and partnerships with artisanal miners and the improved performance at the Nechí alluvial property,” the company added.
