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Atlas Consolidated Mining and Development Corporation
|Atlas Consolidated Mining & Development Corporation (AT) was incorporated as Masbate Consolidated Mining Company, Inc. on March 9, 1935 as a result of the merger of assets and equities of three pre-war mining companies, namely, Masbate Consolidated Mining Company Inc., Antamok Goldfields Mining Company, and IXL Mining Company. Thereafter, AT amended its articles of incorporation to reflect the present corporate name.
AT's only significant subsidiary is Carmen Copper Corporation (CCC), through which it is engaged in metallic mining and mineral exploration and development. Since the resumption of commercial mining operations in Toledo in 2008, CCC has been shipping its copper to smelters in China and South Korea, pursuant to its offtake agreements with MRI Trading AG (MRI). In 2013, it began delivering copper concentrate to the plant of the Philippine Associated Smelting and Refining Corporation in Leyte, Ocean Partners UK Ltd., and to smelters in Japan by virtue of an offtake contract with Mitsui & Co. Ltd. In 2014, a substantial portion of CCC's copper production was covered by offtake contracts with MRI, although CCC is not dependent on upon a single counterparty.
In November 2015, it secured the ISO 14001:2004 certification of its Integrated Management System, compliant to the Department of Environment and Natural Resources Administrative Order No. 2015-07 mandating large-scale mining companies to secure ISO 14001 Certification.
The Company currently has three approved mineral production sharing agreements in Toledo City, Cebu and one in Palawan.
Source: SEC from 17-A (2015)
|Sector||Mining and Oil|
|Incorporation Date||Oct 16, 1969|
|Number of Directors||7|
|Stockholders' Meeting as per By-Laws||Every Last Monday of June|
|Fiscal Year||12/31 (Month/Day)|
|External Auditor||SyCip, Gorres, Velayo & Company|
|Transfer Agent||Stock Transfer Service, Inc.|
|Business Address||9th Floor Quad Alpha Centrum, 125 Pioneer Street, Mandaluyong City|
|Telephone Number||(632) 584 9788|