In the first quarter of 2025, Mineros S.A., a prominent gold mining company based in Colombia, showcased significant improvements across various financial and operational metrics compared to the same period in 2024. Revenue surged by 41%, reaching $160,560 million, driven primarily by an increase in the average realized price per ounce of gold sold and higher gold production volumes. The company's gross profit soared by 92% year-over-year, reflecting the positive impact of elevated gold prices and increased sales.
Despite the rise in revenue, cost of sales also increased by 19% during the same period due to higher operational expenses and increased costs for purchasing ore from artisanal miners. However, these challenges were effectively managed, resulting in a substantial improvement in profitability. Profit for the period more than doubled to $38,007 million, or $0.13 per share, compared to $16,774 million, or $0.06 per share, in Q1 2024. This remarkable performance underscores the company's commitment to optimizing its operations and capitalizing on favorable market conditions.
Looking ahead, Mineros S.A. remains optimistic about its future prospects. The company anticipates producing between 201,000 and 223,000 ounces of gold in 2025, bolstered by the consistent performance of its Nicaraguan underground mines and partnerships with artisanal miners. Additionally, exploration activities at the Nechí Alluvial Property and Hemco Property are progressing steadily, with several key projects expected to deliver value-enhancing results in the coming months. These efforts align with Mineros' strategic focus on sustainability, innovation, and maximizing shareholder returns while maintaining a strong safety culture.
The achievements highlighted in Mineros S.A.'s Q1 2025 performance demonstrate the company's resilience and adaptability in navigating dynamic market conditions. By prioritizing operational excellence, prudent financial management, and sustainable practices, Mineros is well-positioned to continue delivering robust outcomes. Furthermore, the company’s dedication to fostering a safe and healthy work environment ensures that all employees and stakeholders benefit from its growth trajectory, reinforcing the importance of corporate responsibility in the mining industry.