Atlas Consolidated’s Carmen Copper moves up to higher-grade ore

Carmen Copper Corp. a wholly owned subsidiary of Atlas Consolidated Mining and Development Corp., transferred its mining operations in Lutopan, Cebu, to Carmen for higher-grade copper ore.   In a disclosure to the Philippine Stock Exchange on Monday, Atlas said the upgrade of mining operations to higher-grade copper ore was two months ahead of schedule.   David Dela Cruz, Atlas Consolidated chief financial officer, told reporters in interview that the company decided to transfer to Carmen because the Lutopan area was almost mined out.   "Actually we are just transferring our operations to Carmen, which is supposed to happen in August," Dela Cruz said.   The Carmen deposit contains copper ore of a higher grade than those found in Lutopan, Toledo City, where the publicly listed subsidiary first started operations.   "As we establish steady production from the Carmen ore body, we will continue to work towards achieving expansion goals through cost-reduction measures and process improvements," said Carmen Copper vice president Adrian Ramos..   The Atlas Consolidated official, however, declined to say where the higher-grade copper ore would be sold or exported.   "We just started last weekend and the quantity is not yet established," Dela Cruz said. —MJC/VS, GMA News