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Atlas copper unit sets new production and shipment records in 2012

17 January 2013 
 
Realizing the gains from enhancing the efficiency of its production processes, Carmen Copper Corporation ("CCC") - a wholly-owned subsidiary of Atlas Consolidated Mining and Development Corporation ("Atlas") - increased its output by 28% year-on-year and produced in 2012 a total of 151,997 dry metric tons (DMT) of copper concentrate containing 89.92 million pounds of copper metal. CCC likewise grew the volume of gold by-products by 56% or from 7,888 ounces in 2011 to 12,333 ounces in 2012. 
 
These results break all production records since CCC started commercial operations in 2008 and are attributable to a rise in throughput and recovery rate, and to the improvement of copper ore grades. CCC's average milling rate increased from 37,600 tonnes of copper ore per day in 2011 to 41,500 tonnes of copper ore per day in 2012. The gold content of copper concentrate produced also grew from 2.3 grams per dry metric ton in 2011 to 2.79 grams per dry metric ton in 2012. 
 
With improved production rates, the volume of copper concentrate sold by CCC grew from 118,000 DMT in 2011 to 155,000 DMT in 2012 with a gross copper metal content of 91.39 million pounds and a gold content of 12,921 ounces. This represents a 31% increase in copper concentrate shipped and a 30% rise in gross copper metal sold year-on-year. 
 
Remarking on the milestone, Mr. Adrian Ramos, Atlas Executive Vice President, said: "The dramatic growth realized by CCC with its existing resources demonstrates its ability to continually improve and to deliver its commitments to its stakeholders. With the completion of the expansion project, we are optimistic that the coming year will be marked by new record highs in productivity." 
 
 
2012 Production and Shipment Report
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