ATLAS Consolidated Mining and Development Corp. said its subsidiary Carmen Copper Corp. has completed two shipments of copper concentrates in May.
In a disclosure to the Philippine Stock Exchange, Atlas said that two shipments of 4,937 dry metric tons and 4,939 DMT of copper concentrates were made for the month, for a combined 9, 876 DMT.
The estimated value of the shipments, which were consigned to Chinese smelters, was $24.27 million based on the provisional prices of $4.07 per pound of copper and $1,514 per ounce of gold.
The shipped concentrates averaged 27.27 percent copper, 2.44 grams per ton of gold, and 23.87 grams per ton of silver.
“Meanwhile, the payable metal content of the concentrate was 5,709,000 pounds copper and 696 ounces of gold after deducting treatment and refining charges,” the company said.
The total mill throughput for May reached 983,000 tons of ore at an average grade of 0.304 percent of copper. This resulted in the production of 8,575 DMT of copper concentrate with an average grade of 27.30 of copper, 2.31 grams per ton of gold, and 24.11 grams per ton of silver.
The ore was sourced from the Lutopan pit.
Earlier, Atlas said it plans to increase revenues from CCC this year amid rising copper prices and production.
The company is aiming for revenues of $349 million in 2011, up by 77 percent from $197 million last year.
