17 January 2013

Carmen Copper Corp., a subsidiary of Atlas Consolidated Mining & Development Corp., saw a 28-percent rise in production volume due to an increase in throughput and recovery rate as well as better metal grades.

 In a disclosure to the Philippine Stock Exchange, Atlas said Carmen Copper produced a total of 151,997 dry metric tons of copper concentrate containing 89.92 million pounds of copper metal. Volume of gold by-products grew 56 percent to 12,333 ounces.

“These results break all production records since Carmen Copper started commercial operations in 2008 and are attributable to a rise in throughput and recovery rate and to the improvement of copper ore grades,” Atlas said.

Carmen Copper’s average milling rate increased from 37,600 tonnes of copper ore per day to 41,500 tonnes in 2012.  The gold content of copper concentrate produced also rose to 2.79 grams per dry metric tons last year.

With improved production rates, volume of copper concentrate sold by Carmen Copper increased from 118,000 DMT to 155,000 DMT last year, with a gross copper metal content of 91.39 million pounds and a gold content of 12,921 ounces.

Atlas said this represents a 31-percent increase in copper concentrate shipped and a 30-percent rise in gross copper metal sold year on year.

“The dramatic growth realized by Carmen Copper with its existing resources demonstrates its ability to continually improve and to deliver its commitments to its stakeholders,” Atlas executive vice president Adrian Ramos said

“With the completion of the expansion project, we are optimistic that the coming year will be marked by new record highs in productivity,” he added.

Carmen Copper Corp., which operates the 1,675 hectare Toledo copper mine in Cebu, declared its first-ever cash dividend to shareholders, amounting to P1 billion.

By KBK, GMA News | January 17, 2013
Source: http://www.gmanetwork.com/news/story/290813/economy/agricultureandmining/carmen-copper-production-volume-up-28-in-2012