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MANILA, Philippines – Atlas Consolidated Mining and Development Corp. recorded a net income of P4.6 billion in the first semester, reversing a net loss of P653 million in the same period a year ago, due to significantly higher metal prices.
In a disclosure on Monday, the listed mining firm under the SM Group said six-month revenues had risen by 64 percent to P12.98 billion, while cash cost had dropped by 3 percent to P5.63 billion.
READ: Demand for metals to sustain mining industry’s growth-MGB
Earnings before interest, taxes, depreciation and amortization amounted to P7.88 billion, surging by 273 percent.
