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.

 

Price

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#1 Refined Cu
Jul.16
46890.0
90.0
(0.19%)
Standard-Grade Copper
Jul.16
46860.0
90.0
(0.19%)
High-Grade Copper
Jul.16
46920.0
100.0
(0.21%)
Guixi copper
Jul.16
46925.0
100.0
(0.21%)
Low-quality copper
Jul.16
46825.0
95.0
(0.20%)

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.