Atlas Mining attained Php1.22 billion Net Income in Q1 2022
by Philippine Resources - May 04, 2022
Photo credit: Bilyonaryo
Atlas Consolidated Mining and Development Corporation (“Atlas Mining”) reported another record net income of Php1.22 billion for the first quarter of 2022 compared to the net income of Php420 million for the same period in 2021. Higher production and higher metal prices sustained the strong performance of Atlas Mining.
The increase in metal prices continued in the first quarter this year where copper price increased by 16% from $3.93/lb to $4.56/lb and gold price from USD1,797/ounce to USD1,885/ounce compared to the same period last year.
Atlas Mining’s wholly-owned subsidiary, Carmen Copper Corporation, reported higher copper production and shipments in the first quarter of the year compared to the same period last year due to higher tonnes of ore milled and higher realized grades. In the first quarter of 2022, copper metal production increased by 26% from 15.93 million pounds to 20.01 million pounds, due mainly to the 8% increase in milling tonnage from 4.22 million tonnes to 4.57 million tonnes and the increase in copper grades by 12% from 0.215% to 0.241%. Gold production increased quarteron-quarter by 22% from 5,346 ounces to 6,015 ounces while gold grades decreased from 5.77 grams/dmt to 5.34 grams/dmt. Accordingly, shipments were higher by 27% from 17.02 million pounds of copper metal in 2021 to 21.69 million pounds in 2022.
Higher production and shipments supported by higher prices, pushed revenues to soar by 54% to Php5.49 billion from Ph3.57 billion.
Cash costs increased by 50% from Php1.97 billion to Php2.94 billion, due to the increase in volume of shipments and production. Earnings before interest, tax, depreciation and amortization (EBITDA) was Php2.60 billion, 55% higher compared to Php1.68 billion in the same period of 2021. Core income was Php992 million in the first quarter of 2022 compared to Php579 million, 71% higher compared to the first quarter of 2021.
Cash generated from operations enabled additional repayment of debt of US$45 million in the first quarter. With the partial repayment of certain loan, an accounting gain of Php464 million was recognized in the first quarter.
According to Atlas Mining President, Adrian Ramos, “With sustained production, Atlas Mining continues to benefit from a strong metals market. We remain focused on keeping our operations resilient and efficient to ensure sustained and optimized earnings even under emerging challenging situations.”
Article courtesy of the Philippine Stock Exchange
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Philippine Resources - July 26, 2021
Atlas Mining Net Income rose to Php 1.94 billion in 1H 2021
Atlas Consolidated Mining and Development Corporation ("Atlas Mining") reported net income on Php1.94 billion for the first half of 2021 compared to the net loss of Php190 million for the same period in 2020. Net income improvement benefitted from higher metal prices and improved production and shipment volumes in the second quarter. Metal prices rose in the second quarter this year with average copper price higher by 70% to 4.21/lb and gold price by 10% to USD1,812/ounce compared to the same period last year. Atlas Mining's wholly-owned subsidiary, Carmen Copper Corporation, reported higher copper production and shipments in the second quarter compared to the first quarter due to improvement in grades and milling tonnage. Quarter-on-quarter, copper metal produced increased by 43% from 15.93 million lbs to 22.80 million lbs while gold produced increased by 9% from 5,346 ounces to 5,829 ounces. Year-on-year, copper metal production decreased from 54.17 million pounds in 2020 to 38.73 million pounds in 2021, due mainly to the decrease in copper grades by 26% from 0.311% to 0.231% as ore milled in the first quarter was sourced from stockpiles. Gold production decreased year-on-year by 51% from 22,815 ounces to 11,176 ounces due also to lower gold grades from 7.68 grams/dmt to 5.09 grams/dmt. Cash costs decreased by 10% year-on-year from Php4.75 billion in 2020 to Php4.26 billion in 2021, due to overall lower volumes of shipments and production. Earnings before interest, tax, depreciation and amortization (EBITDA) was Php4.932 billion for the first half, 46% higher compared to Php3.373 billion in 2020. Core income for the period was Php2.158 billion in 2021 compared to Php366 million in 2020. Based on its improved earnings, efficient operations and positive outlook, Atlas Mining continues to improve its balance sheet.
Philippine Resources - August 26, 2021
Innovation towards flexibility on construction projects
The new Atlas Copco’s XAS boX range is the result of 10 years of continuous development and addresses the changing needs of our customers. This range, from 400-850 cfm, combines the rugged durability you need with the performance efficiency you deserve. When we focus on efficiency within this range, it’s all about the strategic triangle of size, flow, and fuel efficiency. Excelling in one of these areas is wasted excellence if you cannot provide the other two. Therefore, our promise to our customers is an industry leading range of optimized size-to-flow compressors, which have unparalleled levels of fuel efficiency and autonomy. The XAS boX range comes with Pressure Adjusted through Cognitive Electronics (PACE) technology. This electronic pressure regulation system brings a wider pressure range to cover more applications. PACE optimizes your compressor’s efficiency, especially at partial load or idle status and is the smart technology that increases your utilization and improves your compressor’s fuel economy. This range is also designed to withstand the toughest working conditions. With a standard operating temperature range of -10°C to +50°C and a strong undercarriage, the range’s robust nature guarantees reliable operation. The design, controller and modularity put you in control. You will see we have also focused heavily on ease of service to ensure uptime and utilization. This range is all about you! Huge number of Atlas Copco machines used in Slope Protection projects Rebtrade International Corporation started its formal operations in 1980 as a trading company for specialty construction chemicals, particularly waterproofing and non-shrink grouts. In 1984, Rebtrade entered a manufacturing licensing agreement with an established Swiss manufacturing conglomerate. The thrust is to provide quality products meeting international standards using majority of its components from locally available sources. This created a major advantage for the company in terms of pricing and delivery, as our competitors sold finished products imported from either USA or Europe. At present, Rebtrade has more than 50 specialty construction products such as Waterproofing, Waterstops, Fireproofing, Flooring Compounds and Treatments, Adhesives, Non-shrink Grouts, Epoxies, Caulks and Sealants, Concrete Admixtures, Firestops, Carbon Fiber, etc. Rebtrade represents various principal companies from Europe and America and have also exported products to different parts of Asia. The company is constantly evolving as more innovative products are being developed and introduced to the market to cater to all clients in the construction industry. It is now one of the leading manufacturing and trading companies in the country to date. “Rebtrade International Corporation is one of the pioneers for specialty construction materials, slope protection and road stabilization installation. We started out as a trading company way back in 1980 for specialty construction materials. As we continued to expand and diversify, we needed to find good and reliable suppliers to help in our growth, that’s when we partnered with Atlas Copco. This was more than 8 years ago and to this day, Atlas Copco continues to be our go-to supplier for compressed air supply, among other things”, said Mr. Manuel Syyap, President of Rebtrade International Corporation. “We are happy that we have grown together with Atlas Copco, a company who shares our ideals and our vision. We hope that this partnership will continue in the years to come.”, he added. Discover the products and services offered by Rebtrade International Corporation via www.rebtrade.com or contact them at email@example.com and +632 584 6070 to 71. To know more about Atlas Copco’s range of products and services, visit https://www.atlascopco.com/en-ph/construction-equipment or email powertechnique.SEA@atlascopco.com.
Philippine Resources - June 30, 2021
The first Atlas Copco High-pressure Portable Engine-driven Compressor Y1300 in the Philippine market
Photo Credit: Atlas Copco Philippines - The first Atlas Copco High-pressure Portable Engine-driven Compressor Y1300 in the Philippine market Atlas Copco is an industrial company based in Stockholm, Sweden, with approximately 40,000 employees and customers in more than 180 countries. Atlas Copco is a pioneer in technology and engineering, with expertise relied upon by all industries, all over the world. With market-leading products, solutions, and services help ensure the customers’ reliable operations, optimize their productivity, reduce their costs, lower their CO2-emissions, and help them achieve their own sustainability ambitions. Atlas Copco (Philippines), Inc. (ACPI) is a world-leading provider of industrial productivity solutions. It was established on March 30, 1967 in Metro Manila with more than 50 years presence nationwide. The head office is located at Laguna Technopark, Biñan, Laguna, and have branch offices in Cebu, Cagayan de Oro, and Davao, ready to respond around the clock to the customers’ needs. ACPI serves various industries including electronics, semiconductors, construction, cement, agriculture, mining, automotive, food & beverage, and general manufacturing segments. Some of the products include construction equipment, portable compressors, light towers, dewatering pumps, compressed air systems, vacuum pumps, gas equipment sales and rental, industrial tools, and assembly systems. DrillAir range - reliable and efficient power The Atlas Copco DrillAir range of portable engine driven compressor is built scientifically around the principles of pressure and flow. The focus of the range is the relationship between these two variables and for the compressor to find the combination which is right for the application. DrillAir is all about putting the operator in control. Thanks to innovative design and unique performance management solutions, such as Atlas Copco PACE and DrillAirXpert, the new DrillAir Model will deliver better performance in smaller and lighter package applicable to vast industries such as construction, mining, and oil and gas. Y1300 key features and benefits Atlas Copco’s screw element has low energy consumption over a wide range of pressure and flow settings which helps in covering fluctuations without the need to boost fuel injection. Combination of efficient screw compressor, DrillAirXpert and high pressure help to reduce fuel consumption by up to 15%. All Atlas Copco machines are engineered, not assembled. The innovative design that makes the machine results to better performance and smaller package while the top located exhaust system will reduce the potential risk of fire. On top of it, the standardized design makes the management of big fleet easier. The first Atlas Copco High-pressure Portable Engine-driven Compressor Y1300 in the Philippine market The first ever Atlas Copco portable engine driven compressor acquired in the Philippine market was by ABI Interior Hardware, a company based in Ozamis City, Misamis Occidental. ABI Interior Hardware was established in 2001 at Ozamiz City, Misamis Occidental with its main office at Pagadian City, Zamboanga Del Sur, initially established in 1997 under the name Alvin Bazaar Incorporated with business focused in hardware and paint industry. In 2002, it diversified its business and opened the Executive Hotel in Ozamiz City, with a clear vision to provide comfort and service to guests at an affordable price. It expanded in 2006 and 2011 when the company acquired a property in Cagayan de Oro City and Cebu City, respectively, and opened the Executive Pension and Food House. It was in 2007 when ABI Interior Hardware ventured into water-well drilling services with nine units of drilling rigs at present. In 2019, with the mission to provide quality industrial, commercial, and residential water-well drilling services as well as pump and well-system repairs to ensure customer satisfaction, ABI Interior Hardware expanded their drilling services with percussion method. It is during this time that the owner, Mr. Mervin Ang, searched for a specific machine that can satisfy their requirements for the pneumatic and hammer drilling applications – a 1300-CFM, 35-bar portable engine-driven compressor. Atlas Copco’s high-pressure portable engine-driven compressor model Y1300 is the perfect candidate for such requirements. In the height of the pandemic situation in the country in 2020, the first ever Y1300 in the Philippine market was delivered to Misamis Occidental with direct support from Mr. Junior Mangatong, Atlas Copco Philippines’ Product Engineer in Mindanao. When asked about why they chose Atlas Copco for their biggest project, Mr. Mervin Ang said, “The Atlas Copco Y1300 really boosted our productivity as we can finish a project within two months, unlike with our previous percussion method that normally takes us six months to finish. The advantages are not only directly correlated to financial savings, but also to customer satisfaction as we can fulfill our commitment and deliver above expectations.” More than the features and benefits the equipment can provide, Mr. Ang also elaborated that the technical expertise and 24-hour service hotline are keys in the decision of choosing Atlas Copco. “Machine has a good performance, easy to operate, has a good protection, and most of all why I chose Atlas Copco is the aftermarket support”, he added. To know more about Atlas Copco’s range of products and services, visit https://www.atlascopco.com/en-ph/construction-equipment or email powertechnique.SEA@atlascopco.com.
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Philippine Resources - March 23, 2023
20 Years of Integral: Celebrating Growth and Transformation
Integral, a purveyor of market-leading process control solutions in the Philippines, celebrates its 20th anniversary this 2023. The event, held in EDSA Shangri-La, was attended by the company’s employees, clients, and supply chain partners. The celebration was a showcase of Integral’s history. But more importantly, it highlighted lessons the company learned as keys to success over the past two decades. As told from the perspective of the founders and employees, the event delivered a playful yet heart-warming glimpse into Integral's journey.
Philippine Resources - March 23, 2023
PH, Australia partner for technical cooperation for PPP
Photo: Australian Ambassador to the Philippines Hae Kyong Yu PSM. Credit: AusAmbPH Twitter Page As the Marcos administration becomes bullish in utilizing a public-private partnership (PPP) model in infrastructure projects, the Australian government will be providing its technical expertise in rolling out infrastructure projects under the PPP. Australian Ambassador to the Philippines Hae Kyong Yu PSM told the Philippine News Agency in an interview at her residence Wednesday that the embassy will be launching the Partnerships for Infrastructure (P4I) on March 24. “Infrastructure is a big area that the Philippines is focusing on, and I know President (Ferdinand R.) Marcos (Jr.) has announced that he wants to utilize PPP more where it’s possible. So we are working closely with the Philippine government to share with them how Australia has done it,” Yu said. P4I is an Australian government initiative that brings together experts from the public and private sectors as well as the academe to help Philippine government agencies involved in infrastructure development in the preparation stage of projects that would be under a PPP model. “We can help them with all the project preparation stage. How you do actual cost-benefit analysis of potential projects, and then how you prepare documents for possible procurement, tender processes, and things like that,” the envoy cited. She said that aside from the PPP Center, the P4I also aims to closely work with other agencies including the Department of Transportation, the Department of Energy, the Department of Finance, and the National Economic and Development Authority (NEDA), among others. Yu added that the Australian government will be closely working with the administration through the P4I in meeting its diverse infrastructure requirements, including roads, transport, energy, and public investment management. The Australian envoy said a number of Australian companies have been involved in infrastructure projects in the country. Early this month, NEDA Secretary Arsenio Balisacan announced that the NEDA Board approved PHP9 trillion worth of flagship infrastructure projects, with 45 of these projects possibly being funded through PPPs. “The government shall harness the financial and technical resources of the private sector, which allows the public sector to allocate its funds for greater investment in human capital development, especially to address the scarring in health and education due to the pandemic, and provided targeted assistance that protects vulnerable sectors from economic shocks,” Balisacan had said. By Kris Crismundo Article courtesy of the Philippine News Agency
Philippine Resources - March 21, 2023
PBBM boosts transport sector thru big-ticket projects
Photo credit: Department of Transportation Several big-ticket infrastructure projects in the transportation sector have been approved or are already being implemented by the administration of President Ferdinand R. Marcos Jr., the Department of Transportation (DOTr) reported Monday. In a statement, the DOTr said the Cebu Bus Rapid Transit Project, Davao Public Transport Modernization Project, EDSA Greenways, the Light Rail Transit Line 2 (LRT-2) West Extension, and the Light Rail Transit Line 1 (LRT-1) Cavite Extension are all ongoing as of March 9 according to the National Economic and Development Authority (NEDA). These projects are among the 67 infrastructure flagship projects (IFP) that have been greenlit or are already underway out of the 194 high-impact projects under Marcos’ "Build Better More" program. In the rail sector, these approved and ongoing projects include the Metro Manila Subway Phase 1, Mindanao Rail Phase 1, Metro Rail Transit Line 3 (MRT-3) rehabilitation, Metro Rail Transit Line 4 (MRT-4), Metro Rail Transit Line 7 (MRT-7), New Cebu International Container Port, New Manila International Airport (Bulacan International Airport), North-South Commuter Railway (NSCR), Philippine National Railways (PNR) South Long Haul, and the Subic Clark Railway. The New Dumaguete Airport Development Project (Bacong International Airport) and the Integrated Flood Resilience and Adaptation (InFRA) Phase 1 have also both been approved by NEDA, with six projects awaiting approval. Last week, the NEDA Board, led by Marcos, approved 194 high-impact priority projects with a total cost of around PHP9 trillion. The board also approved amendments to the 2013 Joint Venture guidelines to support the government’s push for more investments in the country’s infrastructure. PNR suspension Meanwhile, Senate President Pro Tempore Loren Legarda has expressed alarm over an impending suspension of select PNR routes due to the NSCR, saying it will affect thousands of commuters, mostly students and workers. “The welfare of the riding public should always be prioritized yet it remains to be seen whether such proposed solutions would effectively and sufficiently address the riding public's urgent demands in time for the imminent suspension of the operations of the PNR,“ Legarda said in her explanatory note on Senate Resolution No. 546. The PNR plans to suspend operations of certain routes for up to five years to facilitate the faster construction of the 55-kilometer NSCR. The construction will start in May and PNR may suspend the routes between Governor Pascual in Malabon City and Calamba City in Laguna, and well as Alabang, Muntinlupa City to Calamba. The Tutuban, Manila-Alabang route will be suspended in October and will affect between 20,000 and 25-000 passengers daily. Legarda urged the Committee on Public Order, chaired by Senator Grace Poe, to look into the impending suspension and come up with alternative solutions. Article courtesy of the Philippine News Agency
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