By Jordeene B. Lagare | Philippine Daily Inquirer | July 21, 2026 2:08AM

FILE PHOTO: Atlas Consolidated Mining and Development Corp. INQUIRER FILES

MANILA, Philippines – Atlas Consolidated Mining and Development Corp. recorded a net income of P4.6 billion in the first semester, reversing a net loss of P653 million in the same period a year ago, due to significantly higher metal prices.

In a disclosure on Monday, the listed mining firm under the SM Group said six-month revenues had risen by 64 percent to P12.98 billion, while cash cost had dropped by 3 percent to P5.63 billion.

Earnings before interest, taxes, depreciation and amortization amounted to P7.88 billion, surging by 273 percent.

Atlas Mining gained from higher metal prices during the period. Gold prices surged by 49 percent to $4,622 per ounce, while copper prices climbed by 38 percent to $5.97 per pound.

Its subsidiary, Carmen Copper Corp. (CCC), which will conclude its three-year redevelopment program by the third quarter of this year, boosted the company’s earnings.

CCC “has continued to progressively expose ore sources for mine and mill production that positively contributed to the improved first half financial performance,” it said.

CCC is operating the Toledo copper mine in Cebu, one of the country’s largest copper mines. It primarily produces and exports copper metal in concentrate and the principal by-products of copper mining and processing: gold and silver.

It holds exclusive operating rights over the mineral resources and ore reserves of Carmen, Lutopan and Biga mineral deposits in the mining project that spans 1,674 hectares.

The company produced 76,000 dry metric tons in the first semester, up 17 percent. Gold production was 1 percent higher at 7,792 ounces.

Atlas Mining made 15.17 shipments during the six-month period, reflecting an 18-percent increase.

Apart from the Toledo mine, Atlas Mining has significant and focused interests in copper, nickel, mineral exploration and water source development. It also has a stake in Berong Nickel Corp.’s nickel laterite mining project in Palawan. INQ

Source: Inquirer.Net

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