Atlas Mining posts loss on lower prices

LISTED miner Atlas Consolidated Mining and Development Corp. swung to a net loss in the first nine months of the year as lower copper production and lower average realized copper prices cut gross revenues by a third, while the recognition of unrealized foreign exchange losses also weighed on profitability.

In a statement, Atlas said its consolidated net loss stood at P1.3 billion for January-September 2015 against a net income of P841 million in the same period last year.