MANILA - Atlas Consolidated Mining and Development Corp. said its subsidiary has successfully loaded its 12th shipment of copper concentrates from the Toledo mine in Cebu.

In a disclosure to the Philippine Stock Exchange on Wednesday, Atlas Mining said Carmen Copper Corp. (CCC) shipped about 5,462.058 wet metric tons (wmt) of copper concentrates to Qingdao, China last November 15.

"The concentrates which were loaded on board M/V VSG Dream destined for Qingdao, China were consigned, through CCC's offtaker MRI Trading, to Yanggu Xingguang Copper Co. Ltd. of Shandong Province in China," Atlas Mining said.

The shipment contains about 28.48% copper, 2.83 grams of gold per dry metric ton (dmt), and 27.77 grams of silver per dmt. Atlas Mining said the latest shipment is worth over $9 million.

Since it started production late last year, Atlas Mining said CCC has already exported about 58,850.921 dmt of copper concentrates to China, which contain approximately 38.01 million pounds of copper.

"Milling performance has significantly improved with the recommissioning this month of Ball Mill No. 1 which was shut down on August 20, 2009 for repair work. Mill capacity is expected to reach 42,000 tons per day by the early part of 2010 upon the commissioning of CCC's Ball Mill No. 7," Atlas Mining said.