Atlas Consolidated Mining and Development Corporation had shipped USD 20.7 million worth of copper concentrates in November. This was based on provisional and hedged prices of USD 3.63 per pound of copper and USD 1,749 per ounce of gold.

In a disclosure to the Philippine Stock Exchange, Atlas said its operating company, Carmen Copper Corporation which operates the 1,674 hectare Toledo copper mine in Cebu province, shipped 9,782 DMT of concentrates. Two shipments were made through MRI Trading AG which were consigned to Chinese smelters.

Mr Rodrigo C Cal resident manager of CCC said that the company’s mine produced almost 1.1 million tonnes of ore with 0.31% copper. This made for an output of 9,822 DMT of copper concentrates with an average grade of 26.76% copper, 2.32 grams per ton gold and 21.5 grams per ton silver.

(Sourced from business.inquirer.net)