Atlas Mining optimizes copper plant production
ATLAS Consolidated Mining and Development Corp. will continue to optimize the production of its copper plant, hoping for a turnaround in demand and better metal prices by yearend.
Atlas Mining president Adrian Paulino S. Ramos told reporters on the sidelines of the Philippine Mining Conference 2015 the company achieved a production level of 47,000 metric tons per day in the first half, a decline in output but was mitigated by improvements in global copper prices.
The target is to achieve a level of 55,000 metric tons per day by yearend, he said.
“We’re working hard to optimize the plant, bring down costs,” Ramos said.
Ramos said the current commodities environment is “difficult” and his company is working hard to maximize metal output.
Several companies abroad have scaled back on their copper output amid the slow demand from China’s industrial sector. Mining firms have held back because of China’s recent yuan devaluation. A weaker yuan means the industrial commodity, traded in dollars, will become more expensive.
The newly expanded processing plant of Atlas Consolidated’s subsidiary, Carmen Copper Corp., was designed to generate an average daily milling output of 60,000 metric tons per day.
On the Philippine mining industry’s prospects, Ramos expressed hope future administrations would revisit the realities of the sector and learn how it contributes to national production and nation-building.
Conference keynote speaker, Vice President Jejomar Binay, said if he becomes president, his administration would meet with industry groups in order to improve the investment climate for businesses.
Chamber of Mines of the Philippines (COMP) director and OceanaGold Philippines Inc. chairman Jose Leviste told reporters he is also optimistic that future administrations will be more open to the mining sector.
“We welcome his (Binay’s) comments. The Philippines is highly mineralized and we will continue more explorations. The idea is to find more reserves,” he said.
