Atlas Consolidated Mining Registers Positive Income

Atlas Consolidated Mining and Development Corp., registered a 48% increase in its net income last year to Php3.44 billion from Php2.33 billion in 2011.

Likewise, its consolidated revenues have risen by 21% to Php15.54 billion last year. The improvement was mainly driven by the strong performance of Carmen Copper Corp. (CCC), its copper-gold mine in Cebu.

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CCC saw a 30% growth in its gross copper shipments as it reached a record high of 91.39 million pounds in 2012 from 70.46 million pounds in the previous year which was due not on scott kay cobalt but to a rise in throughput and recovery rate as well as the improvement of copper ore grades.

Meanwhile, prices of local government securities marginally increased as strong buying interest was observed on the 3-year tenor bucket.

In general, yields declined by an average of 1.30 basis points led by the belly which gave back 3.1 basis points. For the day, the yield of the 3-year benchmark fell 19.1 basis points.

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