- Write by:
-
Saturday, October 17, 2020 - 12:25:52 PM
-
391 Visit
-
Print
Mining News Pro - Atalaya Mining (TSX: AYM), which produces copper from the legendary Proyecto Riotinto site in southwest Spain, posted a record production of 14,695 tonnes for the third quarter of 2020 following successful ramp up of the 15Mtpa expansion project.
This production rate is 7.8% higher than in Q2 2020 and is the third consecutive quarter where copper production has exceeded 13,000 tonnes.
The 15Mtpa expanded plant at the mine is now fully operational and producing at nameplate capacity. Atalaya said it is now focused on implementing cost reduction programs and improving copper recoveries.
Four million tonnes of ore were processed during the period with consistent daily throughput, except for periods of planned mill maintenance.
The increase in copper production during Q3 2020 is mainly attributable to this higher than budgeted levels of ore milled, which compensated for a short period of lower recoveries while treating some transitional ores.
However, recoveries for the remainder of 2020 are expected to be within guidance, and the company is on track to meet its 2020 production guidance of 55,000-58,000 tonnes of copper despite operating with covid-19 restrictions.
Proyecto Riotinto was permitted to resume operations in April after local authorities in Andalucía determined mining to be an essential industry, releasing the mine for production following a brief shutdown.
Shares of Atalaya Mining soared 13.2% on the TSX by 1:15 p.m. EDT Friday. The Cyprus-based company has a market capitalization of C$475.65 million.
Short Link:
https://www.miningnews.ir/En/News/606233
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
A Native American group has asked all members of a US appeals court on Monday to overturn an earlier ruling that granted ...
Codelco is exploring more partnerships with the private sector as Chile’s state copper behemoth looks to recover from a ...
The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply ...
Iron ore futures prices drifted higher on Thursday as the latest soft data from top consumer China triggered renewed ...
Peru’s Las Bambas copper mine, owned by China’s MMG, is facing renewed blockades of a key transport route after failed ...
Vitol Group confirmed that it’s starting to rebuild a trading book for metals after a long stint out of the market, with ...
Rio Tinto said on Wednesday it is teaming up with a global venture studio and start-up investor to back the development ...
Chinese investors are snapping up stocks tied to high-flying metals from copper to gold, aiding an onshore market facing ...
No comments have been posted yet ...