Apex Mining

What Apex Mining does

Apex Mining Co., Inc. is a Philippine-owned and Filipino-managed gold producer with origins in the Maco Gold Mine in Masara, Maco, Davao de Oro, Mindanao. The company mines and mills gold, silver, and various ores/metals/minerals through a conglomerate of three wholly-owned subsidiaries: Monte Oro Resources & Energy, Inc. (MOREI), Itogon-Suyoc Resources, Inc. (ISRI, Benguet/Cordillera operations), and Asia-Alliance Mining Resources Corp. (acquired via Share Purchase Agreement in December 2022, takeover announced February 2023; permitting ongoing as of the 2025 ASM). Operations comprise underground mining at the Maligaya Underground Complex, open-pit extraction, and an on-site Mill Complex that processes ore into doré and concentrates. The Maco mine is powered by renewable geothermal energy, enabling the company to cut more than 50,000 tons of CO2 emissions and claim a structurally lower carbon footprint than diesel-dependent peers. Apex Mining holds MPSA-225-2005-XI and MPSA-234-2007-XI tenements and is triple-certified to ISO 9001 (Quality), ISO 14001:2015 (Environmental), and ISO 45001 (OH&S) under an Integrated Management System.

The company generates revenue by selling gold doré, silver, and mineral concentrates to bullion buyers and refiners at commodity-linked prices. Apex Mining has been listed on the Philippine Stock Exchange since March 31, 2023 under ticker APX with 6,227,887,491 outstanding shares, paying ₱865M in total dividends for 2025 (a doubled cash dividend rate plus a special dividend). Reported financials show strong momentum: FY2023 consolidated net income of ₱3.5B grew to ₱4.3B in FY2024 (+28% YoY); 9-month 2025 consolidated gross revenue reached ₱15.48B; Q1 2025 net income rose 70% YoY to ₱1.4B; and Q1 2026 net income reached ₱2.82B (+94% YoY) even with a 20% dip in gold volume sold, indicating margin expansion. The company is publicly positioned as a top 5 PSE performer in 2025 (+228.7% YTD) and a Forbes Asia Best Under a Billion 2025 honoree.

The go-to-market is direct B2B offtake to enterprise bullion buyers and refiners (both domestic and international), supplemented by investor relations programs targeted at PSE retail and institutional shareholders via Stock Transfer Service, Inc. (STSI) and the corporate secretary. The company is now channeling capital into a USD 300M gold-copper CAPEX pipeline announced alongside Q1 2026 results, while continuing to pursue SDMP-based host community engagement (APEX @YOS! medical missions, APX Scholars, TESDA training, BBSB collaboration with DaSSMA small-scale miners) and labor-management peace initiatives recognized by DOLE-NCMB. Customer concentration is moderate: gold doré is sold into a fungible global commodities market, but specific offtake contracts are not publicly disclosed.

Name

Apex Mining

Legal name

Apex Mining Co., Inc.

Website

https://apexmines.com

Company type

Public

Founded year

1970

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Apex Mining Co., Inc. is a Philippine-owned gold producer operating the Maco Gold Mine in Davao de Oro and subsidiaries MOREI, ISRI, and Asia-Alliance, selling gold, silver, and mineral concentrates to bullion buyers and refiners under the PSE:APX listing.

Ownership category

akta.pro rank

Product category

Gold Mining

NAICS

Gold Ore and Silver Ore Mining (21222), Metal Ore Mining (2122)

SIC

Gold And Silver Ores (1040), Metal Mining (1000), Primary Smelting & Refining Of Nonferrous Metals (3330)

akta.pro primary industry

Gold Mining (IMAKAEAA)

akta.pro secondary industries

Silver Mining (IMAKAEAB), Precious Metals Ore Processing & Beneficiation (IMAKAEAD)

Keywords

• Gold mining
• Silver mining
• Ore milling
• Mineral extraction
• Precious metals production

Headquarters

HQ city

Pasig

HQ country

Philippines

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Mining and milling of gold, silver and ores/metals/minerals: Core revenue stream generated from extraction, milling and sale of gold, silver and all kinds of ores, metals and minerals at the Maco Gold Mine (MPSA-225-2005-XI and MPSA-234-2007-XI) and through subsidiaries MOREI, ISRI and Asia-Alliance. Sales are made to bullion buyers/refineries under commodity-pricing arrangements. Q3 2025 consolidated gross revenue reached 15.48 billion pesos over nine months; 2024 consolidated net income was P4.3 billion (+28% YoY).
2. Equity / capital markets financing: Listed on the Philippine Stock Exchange (ticker APX) since March 31, 2023 with 6,227,887,491 outstanding shares. The company raises equity capital from public markets and pays regular and special cash dividends (e.g., P865 million total dividend payout declared for 2025; doubled dividend rate with a special dividend).

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Apex Mining extracts, mills, and sells gold, silver, and all kinds of ores, metals, and minerals, with its flagship Maco Gold Mine in Masara, Maco, Davao de Oro (Mindanao) serving as the core operating asset. Output is sold to enterprise bullion buyers and refineries under commodity-pricing arrangements tied to international spot prices, with the operation supported by three wholly-owned subsidiaries (MOREI, ISRI, Asia-Alliance) and a USD 300 million gold-copper expansion CAPEX pipeline.

Product overview

Apex Mining Co., Inc. operates a single unified mining and milling business rather than a multi-product technology platform. Its product offering — the mining and milling of gold, silver, and all kinds of ores, metals, and minerals — is anchored by the flagship Maco Gold Mine located in Masara, Maco, Davao de Oro, Mindanao (the company's origin site), and is delivered through a conglomerate structure comprising three subsidiary companies: Monte Oro Resources & Energy, Inc. (MOREI), Itogon-Suyoc Resources Inc. (ISRI), and Asia-Alliance Mining Resources, Corp. The Maco mine serves as the core operating asset, while ISRI contributes additional mining and processing capacity (independently maintaining ISO 9001/14001/45001 certifications), MOREI supports the group's resources and energy activities, and Asia-Alliance is in permitting as a forward gold-copper project alongside a USD 300 million CAPEX pipeline announced in Q1 2026.

Differentiator

Problem solved

Functional benefit

Brands

• Maco Gold Mine: The company's flagship operating gold mine located in Maco, Davao de Oro, Mindanao.
• Monte Oro Resources & Energy, Inc. (MOREI)
• Itogon-Suyoc Resources, Inc. (ISRI)
• Asia-Alliance Mining Resources, Corp.

Products and services

• Maco Gold Mine (flagship operation) Underground and open-pit gold mining and ore milling operations at Masara, Maco, Davao de Oro, Mindanao. The flagship site produces gold doré and silver through underground mining at the Maligaya Underground Complex and ore processing through the on-site Mill Complex, and is the foundation of Apex Mining's mining and milling business under MPSA-225-2005-XI and MPSA-234-2007-XI.
• Itogon-Suyoc Resources, Inc. (ISRI) Mining Operations Subsidiary mining operations in the Itogon-Suyoc area (Benguet/Cordillera), including the Itogon mine site and processing facilities. ISRI independently maintains ISO 9001, ISO 14001, and ISO 45001 certifications, and runs its own IMS Recertification Audits and community/SDMP programs (Big Brother Small Brother with DaSSMA).
• Asia-Alliance Mining Resources, Corp. (gold-copper project) Mining subsidiary holding permits and mineral assets for the Asia-Alliance gold-copper project. Acquired by Apex Mining via SPA (December 2022) and takeover disclosed February 2023, the project is currently in the permitting phase and forms part of the group's USD 300M gold-copper CAPEX expansion pipeline.
• Monte Oro Resources & Energy, Inc. (MOREI) resources and energy portfolio Wholly-owned resources and energy holding/investment subsidiary within the Apex Mining corporate conglomerate structure, supporting the group's mining, resources, and energy interests alongside the Maco Gold Mine.
• Gold, Silver and Ores Mining & Milling Business Core commercial offering: the extraction, milling, and sale of gold, silver, and all kinds of ores, metals, and minerals. Output (gold doré, silver, and ore concentrates) is sold to enterprise bullion buyers and refineries at prices tied to prevailing international gold/silver spot prices and ore grade. The Maco mine site is powered by renewable geothermal energy, enabling lower-carbon gold production.

Quantifiable outcome

• Q1 2026 consolidated net income of ₱2.82 billion (+94% YoY) despite 20% dip in gold volume sold
• +6 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

13 partnerships are on record, tiered core (subsidiary), core, major and minor.

• Monte Oro Resources & Energy, Inc. (MOREI)core (subsidiary)Strategic or Co-development PartnerMOREI is part of the Apex Mining group structure (listed under Our Business on apexmines.com) and supports the conglomerate's resources and energy interests alongside the Maco Gold Mine.
• Itogon-Suyoc Resources, Inc. (ISRI)core (subsidiary)Strategic or Co-development PartnerISRI is a key Apex Mining subsidiary with its own purchasing email ([email protected]), independent IMS Recertification (May 2026), Big Brother Small Brother program with DaSSMA, and NCMB/PMIEA-recognized industrial-peace and environmental performance.
• Asia-Alliance Mining Resources Corp.core (subsidiary)Strategic or Co-development PartnerAsia-Alliance was acquired by Apex Mining via Share Purchase Agreement (SPA) signed in 2022, with takeover disclosed in February 2023. As of the 2025 ASM, the permitting process for Asia-Alliance was ongoing.
• Stock Transfer Service, Inc. (STSI)coreImplementation/ SI/ Consulting PartnerSTSI serves as Apex Mining's stock transfer agent. General Manager Mr. Richard D. Regala, Jr. ([email protected]) handles stockholder queries and concerns at 34th Floor Rufino Tower, Ayala Avenue, Makati City.
• Picazo Buyco Tan Fider & Santos Law OfficecoreImplementation/ SI/ Consulting PartnerAtty. Silverio Benny Tan serves as Apex Mining's Corporate Secretary via Picazo Buyco Tan Fider & Santos Law Office at Liberty Center, Salcedo Village, Makati City. Handles stockholders' legal and governance matters.
• University of Makati (UMak)majorStrategic or Co-development PartnerApex Mining and UMak committed to quality training to future-ready students via LRS Signing (Learning and Resource Sharing) partnership announced July 2025.
• TESDA (Technical Education and Skills Development Authority)majorGTM or Marketing PartnerTESDA Kabalikat Awardee (2024); TESDA-RTC and ISRI signed MOA for TVET skills training of host communities and ISRI workforce.
• DaSSMA (Dalicno Small Miners Association)majorStrategic or Co-development PartnerISRI-ISRI MoU with DaSSMA for Big Brother Small Brother (BBSB) collaboration; DASSMA received more than P40M under the BBSB program (Feb 2024 disclosure).
• South Africa Embassy (Mandela Day)minorGTM or Marketing PartnerApex Mining celebrated Mandela Day in collaboration with the South Africa Embassy, an annual CSR/mark of respect event.
• Barangay Teresa / Barangay New Leyte / Barangay Bunlang / Lim-ao Women's Organization / Itogon Central School / Mambolo CDC (host communities)minorOthersMultiple host and neighboring barangays in Maco, Davao de Oro and Itogon, Benguet partnered with Apex Mining via the SDMP/APEX @YOS! flagship program for free medical missions, hygiene kits, water tanks, education support and livelihood initiatives.
• COL Financial (Investor Summit 2025)minorGTM or Marketing PartnerCOL Financial hosted the Investor Summit 2025 where Apex Mining presented its APX Growth Story to institutional investors.
• DENR (Department of Environment and Natural Resources)majorOthersApex Mining responded to a DENR call for humanitarian mission in Myanmar (April 2025). Works closely with DENR-MGB on annual verification of mines and geosciences.
• DOLE (Department of Labor and Employment) and NCMBmajorOthersLong-running labor-management cooperation; Apex Mining received DOLE-NCMB Regional Award (2021) and National Industrial Peace Award (2023), and DOLE XI Twin Search (2025). ISRI also holds a DOLE Safety Seal.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Newmont Corporation: Newmont is the world's largest gold miner with a broad global portfolio. It is a relevant broad incumbent comparable for offtake benchmarks, gold-cost-curve positioning, and ESG/carbon-footprint disclosure standards that Apex's geothermal-powered operation is benchmarked against.
• Barrick Gold Corporation: Barrick Gold is a global senior gold producer with a portfolio including copper exposure. It is a relevant broad incumbent for gold-copper project economics, capex benchmarking against Apex's USD 300M gold-copper expansion, and reserve-and-resource reporting standards.

Direct peers

• Lepanto Consolidated Mining Company: Lepanto Consolidated Mining is a long-standing Philippine-listed gold and copper producer based in Mankayan, Benguet. It is a direct operational peer to Apex's ISRI operations in Benguet/Cordillera, with overlapping product mix (gold doré and copper concentrates) and the same Philippine MGB regulatory environment.
• OceanaGold Corporation: OceanaGold operates the Didipio gold-copper mine in Nueva Vizcaya, Philippines (FTAA permit), making it a direct Philippine gold-copper peer. It shares the same MGB permitting framework, host-community obligations, and commodity mix as Apex Mining's Maco complex.
• Philex Mining Corporation: Philex Mining is a Philippine-listed gold and copper producer operating the Padcal mine and Silangan project, headquartered in Pasig. It is the closest Philippine mid/large-cap gold-copper peer, competing for the same PSE investor base and exposed to identical Philippine regulatory and ESG dynamics as Apex.

Regional players

• Semirara Mining and Power Corporation: Semirara Mining is a Philippine-listed diversified miner (coal and power) with similar size and PSE-listed profile. While its commodity mix differs, it is a useful comparable for capital intensity, dividend policy, and PSE-listed mining valuation benchmarks in the Philippines.

Emerging players

• St. Augustine Gold and Copper Limited: St. Augustine Gold and Copper is developing the King-king gold-copper project in the Philippines. It is a useful emerging-player comparable for the gold-copper project economics Apex is pursuing via the USD 300M CAPEX and Asia-Alliance pipeline.
• Medusa Mining Limited: Medusa Mining is an Australia-listed junior gold producer with operations in the Asia-Pacific region. It is comparable to Apex as a mid-tier gold producer focused on a single primary asset, with similar capex-driven growth dynamics.
• TVI Pacific Inc. TVI Pacific is a Canadian-listed resource company with Philippine mining interests and historical operations in the region. It is comparable to Apex on Philippine operational exposure, permitting timelines, and small-mid-cap mining capital markets dynamics.
• CGA Mining Limited: CGA Mining is an Asia-Pacific-focused gold producer (Masbate Gold Project in the Philippines). It is a relevant emerging-player peer, sharing Philippine gold production exposure, MGB regulatory framework, and the Masbate/Mindanao operating context.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/apex-mining-co-inc

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Apex Mining