Carmen Copper boosts output in ’12

MANILA, Philippines - Listed miner Atlas Consolidated Mining and Development Corporation’s wholly owned subsidiary Carmen Copper Corp. (CCC) has increased its copper concentrate output by 28 percent in 2012 from the same period last year.

In a statement, Atlas said CCC produced in 2012 a total of 151,997 dry metric tons (DMT) of copper concentrate containing 89.92 million pounds of copper metal. The company produced 119,000 DMT of copper concentrate in 2011 containing 71 million pounds of copper metal.

CCC likewise grew the volume of gold by-products by 56 percent from 7,888 ounces in 2011 to 12,333 ounces in 2012.

The company attributed the rise in production volume to the rise in throughput capacity and recovery rate.

Atlas said CCC’s average milling rate increased from 37,600 tons of copper ore per day in 2011 to 41,500 tons of copper ore per day in 2012.

The gold content of copper concentrate produced also grew from 2.3 grams/DMT in 2011 to 2.79 grams/DMT in 2012.

With improved production rates, the volume of copper concentrate sold by CCC grew from 118,000 DMT in 2011 to 155,000 DMT in 2012 with a gross copper metal content of 91.39 million pounds and a gold content of 12,921 ounces. 

This represents a 31 percent increase in copper concentrate shipped and a 30 percent rise in gross copper metal sold year-on-year.

Atlas is yet to announce the audited value of shipments.

The company is developing the higher-grade Carmen ore body and increasing the capacity of the mine’s copper ore processing plant.

With the enhancement of the plant’s capacity, the mine can achieve a throughput of 60,000 tons of copper ore per day in 2013.

“The dramatic growth realized by CCC with its existing resources demonstrates its ability to continually improve and to deliver its commitments to its stakeholders.  With the completion of the expansion project, we are optimistic that the coming year will be marked by new record highs in productivity,” said Atlas executive vice president Adrian Ramos.