MANILA -Lower production and higher costs shaved Atlas Consolidated Mining and Development Corp.'s earnings by 78 percent in the first quarter of the year. In a disclosure on Thursday, the listed mining company said its net income plummeted to P264 million from P1.22 billion in the same period last year. Likewise, revenues decreased by 10 percent to P4.9 billion from P5.5 billion. 'The lower income was mainly due to lower grade and milling tonnage as well as nonrecurring noncash gain booked in 2022 by its wholly owned subsidiary, Carmen Copper Corp.

https://business.inquirer.net/396921/atlas-mining-q1-income-plunges-by-78-on-low-output

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