Name of the Project
Proyecto Riotinto copper mine expansion.

Location
Spain.

Project Owner/s
Atalaya Mining.

Project Description
Atalaya has approved the 15-million-tonne-a-year expansion plan at Proyecto Riotinto.

The expansion plan is designed to upgrade processing facilities to increase copper production to between 50 000 t/y and 55 000 t/y.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Management expects the expansion project to result in an incremental post-tax net present value, at an 8% discount rate, of $113-million and a post-tax internal rate of return of about 43%, assuming a $3/lb copper price, an $18/oz silver price and a dollar:euro ratio of 1.15.

Capital Expenditure
The capital cost of the project has been estimated at €80.4-million.

Planned Start/End Date
Nominal production during the first half of 2020.

Latest Developments
The expansion of the Proyecto Riotinto mine to 15-million tonnes a year has achieved full mechanical completion and the expanded plant should reach its nameplate capacity in December.

Atalaya has reported that the new semiautogenous mill, new primary crusher and all associated equipment has been running continuously and are ready to receive ore and ramp up to production during wet commissioning.

The additional electricity supply for the expansion is expected to come on stream during the current quarter.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Yes.

Contact Details for Project Information
Atalaya Mining, tel +357 2244 2705, fax +357 2242 1956 or email info@atalayamining.com.