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Atalaya’s quarterly copper production doubled as Proyecto Riotinto ramp up continues

The miner formerly known as EMED continues to ramp up its Spanish copper operation where 'nameplate' capacity is targeted in the remainder of 2016.

Mining at the Rio Tinto project in Andalucia, Spain
It repeated production guidance of 23,500 to 27,000 tonnes for the year.

Atalaya Mining Plc (LON:ATYM, TSE:AYM), the Spanish mining group formerly known as EMED, has told investors that output from Proyecto Riotinto doubled in the third quarter as ramp up operations continue.

The mine, in southern Spain, yielded some 8,752 tonnes of copper in concentrate in third quarter, the company said in a statement.  A total of 2.0 million tonnes of ore were processed.

Atalaya added that it is aiming to hit ‘nameplate’ capacity during the remainder of 2016, and repeated production guidance of 23,500 to 27,000 tonnes for the year.

Alberto Lavandeira, Atalaya chief executive, said: “We are pleased with the plant's performance during Q3.  During the quarter we focused on removing bottlenecks in the plant. 

“As a result, production reported a substantial increase when compared with Q2 2016 and the recovery rate has rebounded and exceeded our previously stated target rate for the plant.

“We continue to work towards nameplate capacity which we hope to achieve before the year end."

Quick facts: Atalaya Mining

Price: 192 GBX

AIM:ATYM
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