AT­LAS MIN­ING RE­PORTS P939M NET LOSS

Sun.Star Cebu - - BUSINESS -

At­las Con­sol­i­dated Min­ing and De­vel­op­ment Corp. posted a con­sol­i­dated net loss of P939 mil­lion for the three quar­ters of 2017. With­out a P400-mil­lion mark to mar­ket loss pro­vi­sion for cop­per price hedges, the net loss would have been P539 mil­lion com­pared to P470 mil­lion for the same pe­riod last year. Im­prove­ments in pro­duc­tion and in cop­per price in the third quar­ter pushed the earn­ings be­fore in­ter­est, tax, de­pre­ci­a­tion and amor­ti­za­tion (EBITDA) for the nine-month pe­riod to P2.5 bil­lion, about nine per­cent higher than the P2.3-bil­lion earn­ings for the same pe­riod in 2016. 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, com­pared to 12.682 mil­lion tons milled and 77.1 mil­lion pounds of cop­per metal pro­duced dur­ing the same pe­riod in 2016, it told the Philip­pine Stock Ex­change.

Newspapers in English

Newspapers from Philippines

© PressReader. All rights reserved.