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Carmen Copper Project

 

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Trucks at work

Carmen Copper Corporation (CCC) is 65.53% owned by Atlas Consolidated Mining and Development Corporation (Atlas) and 34.47% owned by the Crescent Asian Special Opportunities Portfolio (CASOP). CCC has exclusive operating rights over the in-situ mineral resources and ore reserves of Carmen, Lutopan and Biga, collectively known as Toledo Copper Mines.

  • Toledo Copper Mines processed 604 million metric tons of ore into 5.62 billion pounds of copper and 1.92 million ounces of gold in concentrate between 1955 and 1994.

  • Currently, prior to further exploration, the Mines have remaining combined resources of 874 million metric tons at 0.41 percent copper, containing approximately seven billion pounds of copper and five million ounces of gold. As of January, 2008, 154.5 million metric tons of these resources have been converted to Ore Reserves with a grade of 0.39 percent copper.

  • CCC’s business plan envisions the mining and processing of approximately 15.2 million metric tons of ore and producing 115 million pounds of copper and 51,000 ounces of gold (plus silver, pyrite and magnetite by-products) per annum during the first five full years of production from 2010 to 2014.

  • Rehabilitation of parts of Lutopan Pit, Carmen Pit and underground mine and support facilities was started in September, 2007 and mining production will initially start in Q3 of 2008, with only minor  capital/expenditure overruns.
 

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