Strong development outlook for historic Riotinto Mine
Proyecto Riotinto Highlights
Atalaya Mining owns 100% of Proyecto Riotinto in Andalucía, Spain via its wholly-owned Spanish subsidiary:
- Past-producing open-pit copper mine in the Iberian Pyrite Belt, 65 km northwest of Seville
- Last operated in 2001 and placed on care and maintenance when copper price fell below US$1.00/lb
- Peak annual plant throughput of 9Mtpa reached in 1998
- Excellent infrastructure in place with access to power and water
- Located 75 km from smelter and major seaport
Atalaya Mining declared commercial production as of 1 February 2016 at an initial processing rate of 5Mtpa. The Expansion Project to increase processing capacity to 9.5Mtpa is mechanically complete and on commissioning, ahead of schedule and under budget. Currently there are over 300 employees and some 200 contractors permanently working on site.
Declared commercial production as from 1 February 2016
- Phase 1 in operation: 5.0Mtpa
- Expansion Phase: 9.5Mtpa
- Nameplate capacity from January 2017
Reserves and Resources
Recently updated Statement estimates Proven and Probable Ore Reserves total 153 million tonnes at 0.45% copper (0.68 million tonnes of contained copper), at a cut-off grade of 0.20% copper. Measured and Indicated Mineral Resources total 193 million tonnes at 0.43% copper, at a cut-off grade of 0.20% copper.
|Total Ore Reserves||153||0.45|
|Total Measured & Indicated Resources||193||0.43|
Organic Growth Potential
Near-mine exploration activities are on-going with resource/reserve drilling update recently released. Extensive in-fill and deep-hole drilling with more than 31,701 metres of reverse circulation and 11,941 metres of diamond drilling have been completed.
Efforts have been concentrated on drilling on a closer pattern and testing extensional mineralised targets.
Grass-root regional exploration is also under way with specific attention to gravimetric anomalies identified in the Company’s exploration licences.