MANILA, Philippines — Atlas Consolidated Mining and Development Corporation’s wholly-owned subsidiary Carmen Copper Corporation (CCC) produced a record 7.35 million pounds of payable copper in March 2012.
The firm said this capped a strong first quarter which saw CCC increase its copper output by 21 percent based on production rates during the same period in 2011.
This surge in productivity enabled CCC to complete three shipments of copper concentrate to Chinese smelters within one calendar month, and to earn a monthly revenue exceeding US$30 million for the first time since the start of commercial operations in 2008.
“Clearly, the investments we made in 2011 are starting to pay off, and our operating results, together with the success of our US$300 million bond offering, are giving us confidence to forge ahead with our expansion projects over the next two years with the goal of optimizing operations by enhancing productivity and reducing costs,” Atlas executive vice president Adrian Ramos said.
Atlas is a diversified mining conglomerate in the Philippines. CCC is the largest exporter of copper in concentrate in the country today and operates the Toledo Copper Mine in the Province of Cebu. (JAL)
source: mb.com.ph
