Atlas ships $21M worth of minerals | Inquirer Business

Atlas ships $21M worth of minerals

/ 03:17 AM September 19, 2012

Atlas Consolidated Mining and Development Corp. announced Tuesday that it had made two copper shipments in August worth a combined $20.66 million.

In a disclosure to the Philippine Stock Exchange, Atlas said two shipments of 4,878 dry metric tons and 4,962 dry metric tons of copper concentrate were made in August.

The shipments, which were consigned to Chinese smelters, totaled 9,840 dry metric tons through MRI Trading AG.


The shipped concentrates averaged 26.81 percent copper, 2.60 grams per ton gold, and 22.78 grams per ton silver.


The payable metal content of the concentrate was 5,589,000 pounds of copper and 739 ounces of gold.

The estimated value of the shipments was $20.66 million, based on provisional and hedged prices of $3.48 per pound of copper and $1,662 per ounce of gold.

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TAGS: Business, copper, gold, mineral shipments, Mining and quarrying

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