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Atlas Consolidated Mining and Development Corporation

Company Description
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 significant subsidiary is Carmen Copper Corporation (CCC), which is engaged in metallic mining and mineral exploration and development. CCC, as the operator of the Company's copper mines in the city of Toledo, Cebu (the Toledo Copper Mine), primarily produces and exports copper metal in concentrate, and gold and silver as the principal by-products. CCC is also pursuing the development and commercial production of other marketable by-products such as pyrite, magnetite and molybdenum. CCC exports 100% of the copper it produces.

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.

The Company currently has three approved mineral production sharing agreements in Cebu, and one in Palawan.

Source: SEC from 17-A (2016)
Security Information
Sector Mining and Oil
Subsector Mining
Corporate Life 50
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.
Contact Information
Business Address 5F FiveE-com Center, Palm Coast corner Pacific Drive, Mall of Asia Complex, Pasay City
E-mail Address
Telephone Number +632 4030813
Fax Number +632 4030818