Atlas Mining logs wider full-year net loss at P246M
Atlas Consolidated Mining and Development Corp. saw its net loss widened by 6 percent to P246 million in 2025 despite higher metal prices.
In a disclosure on Friday, the mining company of Sy-led SM Group said revenues fell by 12 percent to P16.58 billion.
Cash cost, which refers to the actual expenses for acquiring goods and services, plunged by 20 percent to P10.7 billion.
Meanwhile, earnings before interest, taxes, depreciation and amortization jumped by 10 percent to P5.85 billion.
In 2025, Atlas Mining produced 124,000 dry metric tons (DMT) of copper concentrate, down 18 percent.
Gold output slumped by 35 percent to 15,894 ounces.
Both the company’s milling tonnage and daily milling average decreased by 14 percent each to 15,600 DMT and 42,739 DMT, respectively.
Atlas Mining made 24.9 shipments in the previous year, 18 percent lower. The company recorded reduced deliveries, with copper concentrate shipments totaling 124,000 DMT and gold at 14,771 DMT.
Atlas Mining recorded lower shipments despite average copper prices rising by 9 percent to $4.50 per pound year-on-year. Gold prices surged by 44.52 percent to $3,408 per ounce.
The company has significant holdings of mineral resources in the Philippines and was once the largest copper producer in the country and Asia.
The firm exports its entire copper production through its subsidiary, Carmen Copper Corp., which operates the Toledo copper mine in Cebu.
The Toledo copper mine is one of the Philippines’ largest exporters of copper concentrate and also markets byproducts from copper concentrate processing, such as magnetite and pyrite.
Atlas Mining also owns a stake in the nickel laterite mining project of Berong Nickel Corp. in Palawan, which has been engaged in the direct shipping of nickel laterite ore since 2007.
SM Investments Corp., Atlas Mining’s parent firm, said earlier it was considering exiting or reducing its stake in the mining business to focus on core businesses.
Although no firm discussions have taken place, the conglomerate tagged the mining portfolio as an outlier in its investment portfolio.
