R/€ = 16.34 Change: 0.01
R/$ = 14.24 Change: 0.01
Au 1232.18 $/oz Change: -0.32
Pt 832.50 $/oz Change: 4.25
 
 
R/€ = 16.34 Change: 0.01
R/$ = 14.24 Change: 0.01
Au 1232.18 $/oz Change: -0.32
Pt 832.50 $/oz Change: 4.25
 
 
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Atalaya ups guidance following record Q3

10th October 2018 BY: Mariaan Webb
Creamer Media Senior Researcher and Deputy Editor Online
The Proyecto Riotinto mine, in Spain, reported record third-quarter output.
The Proyecto Riotinto mine, in Spain, reported record third-quarter output.

Copper production at the Proyecto Riotinto mine has exceeded Atalaya Mining’s expectations, prompting the Aim- and TSX-listed miner to increase its full-year guidance by 2 000 t.

Proyecto Riotinto, in southwest Spain, delivered its highest-ever copper production of 11 055 t in the third quarter of 2018, compared with 10 679 t in the comparable period of 2017 and 10 446 t in the second quarter of this year.

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This is the second consecutive quarter that copper production exceeded 10 000 t.

In terms of ore milled, 2.5-million tonnes were processed in the quarter, while the copper head grade slightly exceeded planned levels.

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Atalaya attributed the increase in copper production to the higher-than-budgeted head grade, ore milled and better metallurgical recoveries, which averaged 88.40% in the three months.

The new full-year guidance is 39 000 t to 41 000 t, compared with a previous target of 37 000 t to 40 000 t.

Reporting on the expansion of Riotinto to 15-million-tonnes-a-year, Atalaya said that the project was progressing according to schedule, with overall completion at the end of September estimated to be 65%.

The expansion is scheduled for mechanical completion at the end of the second quarter next year. 

EDITED BY: Creamer Media Reporter
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