In a disclosure to the Philippine Stock Exchange, the firm said higher production and higher metal prices sustained its strong performance.“With sustained production, Atlas Mining continues to benefit from a strong metals market. We remain focused on keeping our operations resilient and efficient to ensure sustained and optimized earnings even under emerging challenging situations,” said Atlas Mining President Adrian Ramos.
In the first quarter of 2022, copper metal production increased by 26 percent from 15.93 million pounds to 20.01 million pounds, due mainly to the 8 percent increase in milling tonnage from 4.22 million tons to 4.57 million tons and the increase in copper grades by 12 percent from 0.215 percent to 0.241 percent.
Higher production and shipments supported by higher prices, pushed revenues to soar by 54 percent to P5.49 billion from P3.57 billion.
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