CARMEN COPPER CORPORATION
Carmen Copper Corporation (CCC) is a wholly-owned subsidiary of Atlas Consolidated Mining and Development Corporation (Atlas). CCC has an operating agreement with Atlas and it has exclusive operating rights over the in situ mineral resources and ore reserves of Carmen, Lutopan and Biga mineral deposits, collectively known as Toledo Copper Mine Complex covering 1, 674 hectares. This is part of the Atlas mineral property covering 5,218 hectares, consisting of 3,284.48 hectares Atlas-owned mining claims and 1, 934 hectares of mining claims belonging to claim-owners who have valid operating agreements with Atlas. CCC restarted the Toledo mining operation in September 2007.
HIGHLIGHTS OF CURRENT OPERATIONS
In 2012, Carmen Copper set a new record of 90 million pounds of copper metal in concentrate, an increase of 27% from 71 million pounds in 2011.
Mining operations, likewise, improved with an 88% increase in total materials moved and a 12% increase in equipment availability. The total materials moved from Lutopan Pit and Carment Pit amounted to more than 90 million metric tonnes; 17% or 15 million metric tonnes of which consisted of ore production. The overall improvement in grade of ore mined resulted in a 10% increase in mill copper head grade from 0.298% to 0.327%.
The Carmen Pit development advanced with a total waste stripping volume of 55 million tonnes, 78% or 43 million tonnes of which were stripped in 2012. The first ore delivery was made in June 2012, a modest accomplishment that marked the steady progress of stripping activities with incidental ore production totalling 1 million dry metric tonnes of ore at a copper ore grade of 0.395%.
The Carmen Concentrator plant milled 15 million dry metric tonnes of copper. Production throughput increased by 11% resulting from the installation of four (4) new secondary and tertiary
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