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Atalaya Mining's Quarterly Output Jumps Amid March Production Record

Thu, 16th Apr 2020 06:41

(Alliance News) - Atalaya Mining PLC on Wednesday posted a first-quarter output rise, helped by record production in March.

Cooper production in the first three months to 2020 rose 29% year-on-year to 13,229 tonnes from 10,219 tonnes. Quarter-on-quarter, it was 17% higher from 13,527 tonnes.

Atalaya said: "During February 2020 major scheduled maintenance was undertaken, during which time the plant was not running. These upgrades led to a new production record being achieved in March 2020 with 5,375 tonnes of copper produced."

The company owns the Riotinto project in Andalucia, Spain.

Atalaya's copper production in 2020 is forecast to be in the range of 55,000 to 58,000 tonnes.

Chief Executive Officer Alberto Lavandeira said: "During the first quarter of 2020 our operations at the Riotinto mine continued the successful ramp-up of the newly expanded plant to achieve design capacity. While conscious of the potential impact Covid-19 could have to our current operations, we maintain our production guidance and continue to monitor both volatility in the copper price and the company's cash costs structure."

Shares in the company closed flat at 115.00 pence each in London on Wednesday.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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