Atlas Consolidated Mining & Development Corporation was incorporated as Masbate Consolidated and Mining Company, Inc. on March 9, 1935 as a result of the merger of assets and equities of three pre-war mining companies, namely, Masbate Consolidated Mining Company, Antamok Goldfields Mining Company and IXL Mining Company. Thereafter, it amended its articles of incorporation to reflect the present corporate name. AT is engaged in mineral and metallic mining and exploration, and primarily produces copper concentrates and gold with silver, magnetite and pyrites as major by-products. Most of AT's subsidiaries are involved in the mining business, with one subsidiary engaged in the water supply business. Carmen Copper Corporation primarily engages in searching, prospecting, exploring, mining, processing and locating ores and mineral resources, while TMM Management, Inc. provides management services to mining entities. Berong Nickel Corporation handles mining activities for the Berong mineral properties in Palawan, while Ulugan Nickel Corporation and Ulugan Resources Holdings, Inc. fulfill similar activities in the Ulugan mineral properties, also located in Palawan. Other AT subsidiaries include Nickeline Resources Holdings, Inc. and Atlas Exploration, Inc. AT's copper mining operations, which started in 1955, are centered in Toledo City, Cebu, where three open pit mines, two underground mines and three milling complexes are located. A strong typhoon that hit Cebu in 1993 left AT's mining facilities considerably damaged, forcing AT to shut down its mining operations at its Toledo copper mines in early 1994. CCC, the operator of the Toledo Copper Mines, started the rehabilitation of the mine assets in September 2007. In July 2008, mining operations commenced. Source: SEC Form 17-A (2008)