Philex core income jumps in Q3 as gold prices climb

Pangilinan-led Philex Mining Corp. saw its earnings from core operations rise by a little over two-thirds in the third quarter of the year, driven by higher gold prices that helped offset weaker copper prices and steady production levels.

- By ALDEN MONZON

In a disclosure to the Philippine Stock Exchange, the company said its core income during the period reached P344 million, up by 72 percent from P200 million a year earlier.

“The company benefited from higher gold prices, with average realized gold prices reaching $3,642 per ounce in Q3 2025, up from $2,336 per ounce in Q3 2024,” the company said in its regulatory filing.

The performance during the July to September period brought Philex’s year-to-date core income to P480 million, slightly below the P610 million posted in the same period last year.