Atlas Completes 37th Shipment of Copper Concentrate
Atlas Consolidated Mining and Development Corp. (PSE: AT) has completed its 37th shipment of copper concentrate since the start of mining operations through its subsidiary Carmen Copper Corp. (CCC).
Revenue from this copper concentrate shipment which weighs approximately 5,078 dry metric tons (dmt) and contains 27.52% copper, 2.25 grams of gold per dmt and 21.33 grams of silver per dmt (based on preliminary assay analysis). The whole shipment is estimated to reach $12.242 million (inclusive of gold credits).
The shipment which was loaded on board the vessel M/V Tay Do Star at CCC’s Sangi Port in Toledo City, Cebu, is consigned to Baiyin Nonferrous Group Co. Ltd of Baiyin City, Ganso, China. After this delivery, CCC will still have approximately 2,616 dmt of copper concentrate stored in its Sangi Port warehouse.
The next shipment is expected to be loaded during the last week of March 2011.