Atlas Announces February Production and Shipment of Carmen Copper
Mandaluyong–(PHStocks)–Atlas Consolidated Mining and Development Corp. (PSE: AT) has announced Carmen Copper Corp.’s total mill throughput of 1,221,000 tonnes ore at an average grade of 0.33% copper for February. This resulted in the production of 12,381 DMT of copper concentrate with an average grade of 26.21% copper, 2.72g/t gold and 23.34g/t silver. The ore was sourced from the Lutopan pit.
Two shipments of 4,952DMT and 4,941DMT of copper concentrates were made for the month totalling 9,893DMT through MRI Trading AG, which were consigned to Chinese smelters. The shipped concentrates averaged 26.93% copper, 2.67g/t gold and 23.32g/t silver. The payable metal content of the concentrate was 5,643,000 lbs copper and 761 oz of gold.
The estimated value of the shipments was $22.62 million, based on provisional and hedged prices of $3.78/lb copper and $1,731/oz gold.