Mineros at Mining Forum Americas 2026: growth push gains pace

On Tuesday, 29 September 2026, gold producer Mineros detailed a growth strategy during Mining Forum Americas 2026. The company highlighted robust operations, a strong balance sheet and a pipeline of projects across Latin America. Higher gold prices and improved recoveries contributed to its recent progress, though execution risks remained tied to permitting, community support and managing multiple assets simultaneously.

In the first half of 2025, Mineros' revenue surged 63% to $560 million, while adjusted EBITDA climbed 70% to $260 million. The company raised its 2025 gold production guidance to 240,000 ounces, up from 220,000 ounces in 2024. A $25 million expansion in Nicaragua could add 30,000 to 40,000 ounces annually.

Mineros is advancing three major projects in Nicaragua, Colombia and Chile, while maintaining a focus on strategic acquisitions. CEO Daniel Rojas noted the company's market value has grown 15-fold in two and a half years, but acquisition valuations remain high. First-half 2025 showed operational leverage and cash generation, bolstered by favorable gold prices and enhanced plant performance. Revenue was $560 million, up 63% from a year ago, and adjusted EBITDA reached $260 million.

The company had $230 million in cash and bullion at period end. Mineros invested $110 million across its assets, with $50 million allocated to growth and $70 million to exploration. The firm maintained a clean balance sheet with minimal debt, funding operations, dividends, share buybacks and acquisitions while retaining significant cash reserves. It also introduced a bullion policy to provide additional exposure to gold prices.

Mineros' financial performance drove strong market valuation metrics, with a P/E ratio of 10.18 and a low PEG ratio of 0.21. Despite being slightly overvalued according to InvestingPro's assessment, the stock's low P/E is highlighted as a ProTip. The company operates in Nicaragua, Colombia and Chile, with Nicaragua being the primary growth driver.

In Nicaragua, gold recovery improved from 87% to 93%, and silver recovery rose from 30% to 76%, boosting silver revenue by 500% year over year. The Porvenir development project in Nicaragua has an attractive economics profile at a $3,150 gold price, showing a 38% internal rate of return on a $200 million investment. Phase 1 of the Tolima project in Colombia, acquired from AngloGold Ashanti, could increase production by 30% to 40%.

The Chilean Maricunga district, Mineros' third growth leg, has a Phase 1 resource base of 2.5 million ounces, with plans for 100,000 to 130,000 ounces of annual output starting in early 2026. The company's strategic portfolio balances near-term production growth and long-term development opportunities.