JOHANNESBURG (miningweekly.com) – Aim- and TSX-listed Atalaya Mining has delivered an increase in copper output during the first full year of commercial production as mining operations stabilise quarter-on-quarter.
Proyecto Riotinto, in Andalucía, Spain, achieved 37 164 t of copper production in 2017, an increase on the 26 179 t reported in 2016.
The operation achieved a cumulative throughput rate of 8.8-million tonnes a year, with an average copper head grade of 0.49% and a recovery rate of 85.45%, as operations stabilised, copper grade was consistent and estimates and recovery improved materially.
Looking forward, Atalaya forecast estimated copper production of 37 000 t to 40 000 t for 2018.
“Our first full year of production has been very satisfactory with continuously improving throughput and recoveries at historic highs and we are confident that our production guidance for 2018 will be on track,” said CEO Alberto Lavandeira in an update to shareholders on Monday.
The company also decided in the fourth quarter to expand the project from a throughput rate of 9.5-million tonnes a year to 15-million tonnes a year at a cost of €80.4-million.
“The decision to increase the plant's throughput to 15-million tonnes a year marks another milestone in the regeneration of Proyecto Riotinto and we look forward to announcing revised reserves and resources in due course to meet this expansion,” he added.
The expansion is on track to increase copper production to about 55 000 t/y by 2019.