Mining

CARMEN COPPER CORPORATION

Strategically located in the west-central highlands of the island of Cebu lies the country’s largest copper mine and leading base metal exporter—the Carmen Copper Corporation’s Toledo Mine.

The mine was previously operated by its mother company, the Atlas Consolidated Mining and Development Corporation (“Atlas”) from 1955 until 1994 when low metal price forced the company to suspend mining operations. In 2004, a major restructuring of Atlas led to the inception and incorporation of three separate subsidiaries, namely: Carmen Copper Corporation (CCC), Berong Nickel Corporation and AquaAtlas Inc. By 2006, CCC obtained through Crescent Asian Special Opportunities Portfolio, a Singapore-based investment group, a US$40 million funding package and US$100 million loan agreement with Deutsche Bank.

Open Pit Mining

Open pit mining is a surface mine development and exploitation method that involves the extraction of ore materials or rocks from a valuable mineral deposit. The ore and waste materials are dug out from the mountain sides, forming a terrace-like excavation which eventually forms a huge cavity in the ground.

CCC’s current production is concentrated and sourced from the Lutopan Pit, in particular the north extension of the ore body. To meet production targets, huge hydraulic excavators and heavy-duty dump trucks are utilized to efficiently extract both ore and waste materials. Rotary drilling and blasting with dynamites are resorted to break the hard ores and rocks for easy and systematic digging, loading and hauling operations.