Nov. 18, 2017: Atlas Mining losses doubled in 9 months

Nov. 18, 2017: Atlas Mining losses doubled in 9 months
 

Atlas Consolidated Mining and Development Corp. doubled its consolidated net loss for the first nine months of the year to P939 million from P470 million a year ago.

This includes the company’s P400 million provision for mark to market losses as copper price increased above the hedge price at the end of the third quarter.

In terms of operations, its wholly-owned subsidiary Carmen Copper Corp. milled 10.498 million tons of ore and produced 58 million pounds of copper metal year-to-date. These were lower than the 12.682 million tons milled and 77.1 million pounds of copper metal produced during the same period last year.

Read more: http://business.inquirer.net/240957/atlas-mining-losses-doubled-9-months#ixzz4yjd2eLRk
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