Atlas Consolidated Mining and Development Corporation reported the successful completion of its 18th shipment of copper concentrate for this year through its subsidiary Carmen Copper Corporation.

The bulk cargo which was loaded on board the vessel MV Phuong Nam-1 at the Sangi Port in Cebu is consigned to Dongying Fangyuan Nonferrous Metals Company and is destined for Quingdao, People’s Republic of China.

This shipment of copper concentrate which represents CCC’s second consignment for the month of November had a total volume of approximately 4,721.5 DMT or 5,225.9 WMT. The shipment contained 27.81% copper, 2.46 grams of gold per DMT and 26.74 grams of silver per DMT based on preliminary assay results.

It is valued at nearly USD 9.10 million based on the price of USD 6,615 per tonne of copper as fixed contractually several months prior to shipment. The next 3 shipments, to the end of 2010 have also been price fixed at USD 6,615 per tonne, USD 8,215 per tonne and USD 8,110 per tonne. Thereafter, CCC remains unhedged.

Key performance highlights for CCC for October 2010 include record monthly milling rate of 41,471 tonnes of ore per day at 0.31% copper, record monthly copper metal production of 6.9 million pounds of copper, two shipments of copper concentrate totaling 10,015 DMT at 27.38% copper, 2.42 grams of gold per tonne, 25.77 grams of silver per tonne, cash operating cost after by product credits of approximately USD 1.55 per pound of copper.

(Sourced from www.mb.com.ph)