Proactive Investors - Run By Investors For Investors

EMED to be relaunched as Atalaya Mining

The company says the new name reflects the primary focus on the restart of the Rio Tinto mine.
EMED to be relaunched as Atalaya Mining
Earlier this month, the company told investors the start-up of the Rio Tinto mine is ahead of schedule.

European copper mining group EMED (TSE:EMD, LON:EMED) has unveiled plans to re-brand under the new corporate banner of Atalaya Mining Plc.

At the same time the company, which is redeveloping the historic Rio Tinto mine in Spain, said it intends to consolidate its share capital whereby one new ordinary share will be issued for every thirty existing shares held by investors.

The new name comes from the Corta Atalaya part of the Rio Tinto mine. It was once Europe’s largest open-pit. La Atalaya is a nearby village which was founded in the late nineteenth century to accommodate miners.

The company says the new name reflects the primary focus on the restart of the Rio Tinto mine.

In a statement, it said: “2015 has been a very exciting year for the Company principally through the re-establishment of production at the Riotinto Copper Project.

“The company will now be focusing on ramping up production and becoming a significant European copper producer.

“Accordingly, in order to better reflect the prospects for the company and to help reinvigorate its presence in the capital markets, the board is proposing a share consolidation and change of name.”

Earlier this month, the company told investors the start-up of the Rio Tinto mine is ahead of schedule.

View full ATYM profile View Profile

Atalaya Mining Timeline

Newswire
September 11 2015

Related Articles

1550161908_copper-periodic-table-3.jpg
February 15 2019
VR Resources is still picking up new ground as it continues to assess the potential of its Nevada portfolio
Drilling picture
July 11 2019
The group has a large portfolio of projects, which mitigates risk and increases the chance of making a discovery
1549455327_Gold-bar-plus-nugget.jpg
February 06 2019
Metminco has an attractive portfolio of exploration and development assets

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use