Mineros S.A. Posts Record H1 Revenue and EBITDA on Strong Gold Production
Event summary
- Mineros S.A. reported record H1 revenue of $559 million, up 63% YoY, driven by strong operational performance and robust gold prices.
- Adjusted EBITDA surged 70% YoY to $260 million, underpinned by disciplined cost control and higher production.
- Gold production reached 118,103 ounces in H1 2026, a 9% increase YoY, with sales of 122,634 gold equivalent ounces.
- The company revised its full-year gold production guidance upwards to 220,000–240,000 ounces.
- Mineros expanded its share repurchase program to up to $175 million and received net cash proceeds of $18,500 from a repurchase agreement.
The big picture
Mineros S.A.'s record H1 performance reflects the broader trend of strong gold prices driving operational efficiencies and financial gains for gold producers. The company's strategic focus on cost control and production growth positions it favorably within the Latin American mining sector, where disciplined capital allocation is key to sustaining long-term value creation.
What we're watching
- Production Growth
- The pace at which Mineros can sustain its production growth, particularly with the Hemco expansion on track for completion by year-end.
- Cost Discipline
- Whether the company can maintain its cost discipline amid global inflationary pressures and currency fluctuations.
- Capital Allocation
- How Mineros will balance its capital allocation between share repurchases, debt reduction, and strategic investments in exploration and expansion projects.