Interest?8 Feb 2021 20:25
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Fourth Quarter 2020 Operations Update and 2021 Guidance
14 January, 2021
New annual production record confirmed
Atalaya Mining Plc. (AIM:ATYM, TSX:AYM) is pleased to announce its operations update for the fourth quarter of 2020 (“Q4 2020” or the “Period”) and to provide guidance for 2021.
Proyecto Riotinto Operating Highlights
Q4 Q3 Full year
2020 2019 2020 2020 2019 2021 Guidance
Ore mined (M tonnes) 3.5 2.3 3.8 13.6 10.4 15.1
Waste mined (M tonnes) 6.7 6.0 6.6 24.1 17.9 25.9
Ore milled (M tonnes) 3.9 2.9 4.0 14.8 10.5 15.0 – 15.5
Cu grade (%) 0.43 0.55 0.44 0.45 0.49 0.42
Cu recovery (%) 85.69 83.36 83.78 84.53 87.09 82 – 84
Cu production (tonnes) 14,332 13,211 14,695 55,890 44,950 52,000 – 54,000
Copper production in Q4 2020 exceeded budget with 14,332 tonnes, an 8.5% increase on Q4 2019. This is the second highest quarterly copper production and represents the fourth consecutive quarter where copper production exceeded 13,000 tonnes.
A new annual production record of 55,890 tonnes of copper was achieved in 2020, with the 2020 guidance met notwithstanding the operating challenges and the mandatory stoppage in April 2020 as a result of COVID-19 restrictions.
9 million tonnes of ore milled were processed in Q4 2020, reporting a consistent quarterly throughput.
The increase in copper production, when compared with Q4 2019, is mainly attributable to higher ore milled and better metallurgical recoveries
Despite COVID-19, mining operations have continued normally with enough equipment on site to maintain the higher production levels required for the full operation of the expanded plant.
On-site concentrate inventories at the end of Q4 2020 were approximately 12,180 tonnes. All concentrate in stock at the beginning of the Period and produced during the Period was delivered to the port at Huelva.
Copper prices increased during Q4 2020 compared with Q3 2020, with an average realised price per pound of copper payable, including the QPs closed in the Period, of $2.99/lb compared with $2.72/lb in the previous quarter. The average copper spot price during the quarter was $3.25/lb. The realised price during Q4 2020 excluding QPs was approximately $3.24/lb.
Cash operating costs for the Period are expected to be towards the upper end or slightly above the 2020 cost guidance provided owing mainly to the Euro strengthening against the U.S. dollar. Further details on costs will be provided with the 2020 Financial Statements to be reported in early April.
Local exploration at Proyecto Riotinto has focused on results from core drilling confirming the presence of unmined sulphides around Filon Sur, and around San Dionisio which is under the old Atalaya pit located west of the current operating pit.
At San Dionisio, mapping of old workings and full geological interpretati
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