Atlas unit makes 35th copper shipment
MANILA, Philippines - Atlas Consolidated Mining & Development Corp., through its unit Carmen Copper Corp. (CCC), has completed its 35th shipment of copper concentrates produced from its Toledo copper mine in Cebu worth about $12.93 million (P575.83 million).
In a diclosure to the Philippine Stock Exchange, Atlas said the shipment totaling 5,121.461 wet metric tons (wmt) was loaded to the vessel M/V Tay Do Star and consigned to a smelter in Yantai, China.
The shipped concentrates contain approximately 27.78 percent copper, 2.33 grams of gold per dry metric ton (dmt) and 25.16 grams of silver per dmt, according to preliminary assay analysis.
After this delivery, CCC still has approximately 1,975.640 dmt of copper concentrate stored in its Sangi Port warehouse.
To date, CCC has already exported approximately 167,865.406 dmt of copper concentrate to smelters in China and Korea.
CCC, which started copper mining operations in 1953, operates a mining project in Toledo City in Cebu.
Atlas earlier said it was expecting 2010 sales to reach at least $200 million due to soaring metal prices. Copper sales were seen to hit $154 million, equivalent to 23,000 tons of copper.
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