Atalaya Mining ups its 2021 copper production guidance on strong performance at Proyecto Riotinto

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(Kitco News) - Atalaya Mining (TSX:AYM) todayannounced that copper production in Q3 2021 at its Proyecto Riotinto site inSpain remained strong at 13,933 tonnes.

As a result of the strongperformance at Proyecto Riotinto year-to-date, the company said it isincreasing its 2021 copper production guidance to 54,000-56,000 tonnes, up from52,000-54,000 tonnes previously stated.

The plant processed 3.9million tonnes of ore during Q3 2021, equivalent to a throughput rate of nearly16 Mtpa, which included a planned SAG mill maintenance shutdown in the period.

Recoveries of 87.29% werebetter than budgeted and helped to offset the impact of the mill shutdown andlower grades, resulting in only a modest decrease in copper production comparedwith previous quarters, the company added.

CEO Alberto Lavandeiracommented, "Another robust quarter with strong production figures andhealthy copper prices has allowed the company to continue to strengthen itsbalance sheet despite COVID-19 related challenges. With the operations atProyecto Riotinto working smoothly, and the new project design of ProyectoTouro having been completed for the final permitting phase, the Company is wellpositioned to deliver near-term production growth and long-term extension ofmine life."

Atalaya is a mining anddevelopment group which produces copper concentrates and silver by-product atits wholly owned Proyecto Riotinto site in southwest Spain. In addition, the grouphas a phased, earn-in agreement for up to 80% ownership of Proyecto Touro, abrownfield copper project in the northwest of Spain.

By Vladimir Basov

For Kitco News

Follow kitconewsnow vbasov@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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