MANILA, Philippines — Atlas Consolidated Mining and Development Corp. reported a wider net loss for 2025, as a significant drop in production and shipment volumes offset the benefit of surging global metal prices.
- Net Loss: Widened by 6% to ₱246 million in 2025.
- Revenues: Fell 12% to ₱16.58 billion.
- EBITDA: One of the few positive metrics, jumping 10% to ₱5.85 billion.
- Cash Costs: Successfully reduced by 20% to ₱10.7 billion, reflecting efforts to control expenses despite lower output.
The company’s wider loss was primarily due to lower operational output from its subsidiary, Carmen Copper Corp., which operates the Toledo copper mine in Cebu:
- Copper Concentrate: Production fell 18% to 124,000 dry metric tons (DMT).
- Gold Output: Slumped 35% to 15,894 ounces.
- Shipments: The number of shipments dropped by 18% to 24.9 for the year.
The decline in production occurred while market conditions were exceptionally favorable:
- Copper Prices: Averaged $4.50 per pound, a 9% increase year-on-year.
- Gold Prices: Surged by 44.52% to $3,408 per ounce. Had production remained stable, these record prices would likely have resulted in significant profits.
SM Investments Corp., the parent company of Atlas Mining, recently hinted at a possible exit from the mining industry. The conglomerate has tagged the mining business as an “outlier” in its portfolio, expressing a desire to focus more on its core retail, banking, and property businesses. While no formal sale has been announced, the potential divestment reflects a shift in the SM Group’s long-term investment strategy.
