https://www.miningweekly.com

Copper miner Atalaya reports ‘strong’ Q1 performance

25th May 2017

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Spanish copper miner Atalaya Mining produced 8 805 t of copper in concentrate in the first quarter of 2017, which is in line with its output of the previous quarter.

The company is one of Europe’s newest copper producers and operates the Proyecto Riotinto openpit mine, where commercial production was declared in February 2016.

The miner processed 2.2-million tonnes of ore in the first three months of 2017. This compares with 2-million tonnes in the fourth quarter of 2016 and 4 048 t in the first quarter of 2016.

Revenue increased from €4.9-million in the first quarter of 2016 to €25.6-million in the period under review, resulting in Atalaya posting profit of €5.2-million, compared with a loss of €3.3-million in the prior-year period.

"The first quarter of 2017 was strong both financially and operationally as Proyecto Riotinto continues to perform well.  The combination of falling operating costs and improved levels of production and recovery reflect our ongoing on-site efficiencies,” CEO Alberto Lavandeira commented in a statement.

Atalaya’s copper production guidance for 2017 is 34 000 t to 40 000 t.

Meanwhile, permitting was initiated at Proyecto Touro, in north-west Spain, and Lavandeira said that the company was progressing its in-fill and step-out drilling programmes.

Atalaya exercised its option to acquire an initial 10% stake in Proyecto Touro in February, based on a staged earn-in process to acquire 80% of the brownfield copper project.

“In an environment of declining new global copper supply, Atalaya continues to advance its projects and remains a long term option on the copper price,” he said.

 

Edited by Creamer Media Reporter

Comments

Showroom

Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.103 0.137s - 90pq - 2rq
Subscribe Now