Atlas Mining Reported Revenues of P15.56 Billion, Net Income of P1.13 Billion in 9M24

Atlas Consolidated Mining and Development Corporation (Atlas Mining) posted revenues of P15.56 billion, a 7% growth from last year. Net income ended at P1.13 billion as of third quarter of 2024.

Copper metal price stood at US$4.14/lb in the third quarter of 2024, higher by 6% from last year of US$3.90/lb. However, gold price had  increased to USD 2,285/ounce from USD 1,935/ounce in the same period of 2023.

Earnings before interest, tax, depreciation and amortization (EBITDA) was P5.12 billion for the third quarter of 2024 compared to P4.91 billion in the same period of 2023.

Atlas Consolidated Mining and Development Corporation (Atlas Mining) is a diversified natural resource-based company with significant holdings of mineral resources in the Philippines. Once the country's and Asia's largest copper producer, Atlas Mining is again poised to be one of the preeminent mining companies in the Philippines.

​Atlas Mining is an integrated resource company with significant and focused interests in copper, nickel, mineral exploration and water source development. Its major project is the Toledo copper mine in Cebu province which is operated by Carmen Copper Corporation. The Toledo copper mine commenced production in 1955 and grew to become the third largest copper producer in the world.  Other projects are focused on nickel mining, exploration and water.