(Alliance News) - Atalaya Mining PLC on Wednesday said copper production from the Proyecto Riotinto in Spain increased in the three months to the end of June.
The Cyprus-based copper ores company said it mined 3.2 million tonnes of ore in the second quarter of 2020 compared to 2.8 million tonnes mined a year prior. Copper output increased by 25% to 13,635 tonnes from 10,888 tones year-on-year.
Plant recoveries increased as a result of operational improvements to the fully commissioned plant despite scheduled maintenance and mandatory Covid-19 shutdowns during the quarter.
Atalaya said copper prices decreased during the second quarter when compared with the first quarter, with an average realised price per pound of copper payable of USD2.51 compared with USD2.58 in the first quarter of 2020.
Exploration around Proyecto Riotinto continued during the period, Atalaya said, focused around the massive sulphides and stockwork mineralisation under the Atalaya pit as well as potential resource increases at the Cerro Colorado pit.
"Our operations set a new production record, thanks to the professionalism and dedication of our team which successfully commissioned the expansion at Proyecto Riotinto," said Chief Executive Alberto Lavandeira.
"Plant recoveries have returned to normal pre-commissioned levels and the Company will now continue focusing on delivering new efficiencies to make our business even more competitive," added Lavandeira.
AIM-listed Atalaya shares were trading 6.1% higher in London on Wednesday at 174.98 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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