Atlas ships out $10-M worth of copper

ABS-CBN News

Posted at Aug 09 2010 12:55 PM | Updated as of Aug 09 2010 08:59 PM

MANILA, Philippines - Atlas Consolidated Mining and Development Corp. said Monday its subsidiary has completed a $10.1-million shipment of copper concentrates on August 7.

In a disclosure, Atlas said Carmen Copper Corp. delivered a total of 5,017.457 wet metric tons of copper concentrates from the Toledo mine in Cebu City to LS Nikko Copper Inc. in Seoul, South Korea. The shipment contained 28.04% copper, 2.55 grams gold/dry metric ton (dmt), and 23.28 grams silver/dmt based on preliminary assays.

Atlas said an estimated 5,000 wmt is also being prepared for next shipment, which is tentatively scheduled on August 13.

During the first 7 months of 2010, Carmen Copper was able to export a total of 48,807.181 dmt of copper concentrates to smelters in South Korea and China.

Atlas earlier said its subsidiary was increasing production rate to over 40,000 tons per day after the commissioning of new equipment.