Atlas Consolidated Mining and Development Corporation, through its subsidiary Carmen Copper Corporation (CCC), has completed its tenth shipment of copper concentrates produced from its Toledo copper mine in Cebu worth about $35 million or P1.7 billion.

In a diclosure to the Philippine Stock Exchange, Atlas said the shipment totaling 5,570.99 wet metric tons (wmt) was loaded to the vessel M/V Perseus and consigned to the Yanggu Xiangguang Copper Co., Ltd smelter in Qingdao, P.R. China.

The shipped concentrates approximately contain 28.28 percent copper, 3.00 grams/dmt gold and 28.74 grams/dmt silver.

Under the terms of CCC’s Offtake Agreement with MRI Trading AG which has recently been extended by a further 30,000 mt of copper concentrates, the contained copper is to be settled at $6,330 per metric ton or $2.87 per pound.

Initially, the copper concentrate loading was scheduled on September 27, 2009 but this was moved to October 07, 2009 due to the unforeseen delay in the arrival of M/V Perseus at CCC’s owned port in Sangi, Toledo City.