Atlas Mining Copper Unit 2011 Net Profit PHP2.54 Bln Vs PHP670 Mln-Shanghai Metals Market

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Atlas Mining Copper Unit 2011 Net Profit PHP2.54 Bln Vs PHP670 Mln

Industry News 01:22:58PM Feb 16, 2012 Source:SMM

MANILA, Feb 15, 2012 (Dow Jones) -- Atlas Consolidated Mining and Development Corp. (AT.PH) said Thursday net profit at its wholly owned unit Carmen Copper Corp. grew to PHP2.54 billion in 2011 compared with PHP670 million a year earlier.

Carmen Copper's gross revenue rose 41% to PHP12.498 billion from PHP8.851 billion, Atlas said in a statement to the stock exchange.

The strong performance of Carmen Copper, which operates the Toledo mine in central Philippines, was a result of higher world prices for copper and increased shipments of the metal.

 

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#1 Refined Cu
Oct.22
47170.0
-20.0
(-0.04%)
Standard-Grade Copper
Oct.22
47160.0
-20.0
(-0.04%)
High-Grade Copper
Oct.22
47180.0
-15.0
(-0.03%)
Guixi copper
Oct.22
47190.0
-10.0
(-0.02%)
Low-quality copper
Oct.22
47130.0
-10.0
(-0.02%)

Atlas Mining Copper Unit 2011 Net Profit PHP2.54 Bln Vs PHP670 Mln

Industry News 01:22:58PM Feb 16, 2012 Source:SMM

MANILA, Feb 15, 2012 (Dow Jones) -- Atlas Consolidated Mining and Development Corp. (AT.PH) said Thursday net profit at its wholly owned unit Carmen Copper Corp. grew to PHP2.54 billion in 2011 compared with PHP670 million a year earlier.

Carmen Copper's gross revenue rose 41% to PHP12.498 billion from PHP8.851 billion, Atlas said in a statement to the stock exchange.

The strong performance of Carmen Copper, which operates the Toledo mine in central Philippines, was a result of higher world prices for copper and increased shipments of the metal.