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Atlas Mining reports strong Q2 results, revenues up 4% to Php10 billion

21 July 2023
Manila, Philippines
Atlas Consolidated Mining and Development Corporation (“Atlas Mining”) posted revenues of Php10.1 billion, a 4% growth from last year. Net income ended at Php803 million for the first half of 2023.
Copper metal price stood at $3.95/lb in the second quarter of 2023, lower by 11% from last year of $4.45/lb. However, gold price had increased to USD 1,937/ounce from USD 1,879/ounce in the same period of 2022.
Earnings before interest, tax, depreciation and amortization (EBITDA) was Php3.61 billion for the second quarter of 2023 compared to Php3.88 billion in the same period of 2022.
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