LONDON (Alliance News) - Atalaya Mining PLC on Thursday said operations at the Riotinto copper project in Spain are progressing to plan and the expansion project is near to completion.
The processing plant has now achieved an annualised throughput rate in line with the design plans for the project, Atalaya said. In the first quarter to the end of March, copper recoveries were consistently above 82%, and the concentrate specifications were within commercial terms.
Atalaya said the expansion projects for the year are now 92% compete, with only final construction activities and tie-ins to existing operations pending.
"We have been able to fast-track the expansion project owing to the dedication and commitment of our team who have worked tirelessly to ensure that Proyecto Riotinto will return to maximum production significantly ahead of schedule and well under budget. Having declared commercial production in February, 2016 is shaping up to be a transformational year for Atalaya," said Chief Executive Officer Alberto Lavandeira.
Atalaya shares were up 1.5% to 100.00 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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