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Snapshot
- Asset Type Open pit deposits
- Stage Permitting – Designated a “Strategic Industrial Project”
- Key Metals Copper
- Location Galicia, Spain
- Ownership Up to 80%
Proyecto Touro is a brownfield copper project located in the Galicia region of northwest Spain. Touro was previously operated by Riotinto Patiño from 1973 – 1986 as a conventional open pit mine.
Proyecto Touro is located in an area with access to high quality and modern infrastructure, including high voltage power and a road network providing access to an international airport and a number of deep-water ports.
Atalaya currently owns an initial 10% stake in Cobre San Rafael, S.L., the local entity that owns Proyecto Touro, as part of an earn-in agreement that enables Atalaya to acquire up to 80% ownership as certain development milestones are met.
Atalaya completed a positive Pre-Feasibility Study in 2018, which contemplated a conventional operation consisting of open pit mining, crushing, grinding and flotation to produce copper concentrates.
Proyecto Touro is currently in the permitting process. In June 2024, Cobre San Rafael was declared a strategic industrial project by the Council of the Xunta de Galicia. Under legislation of the Autonomous Community of Galicia, the status of strategic industrial project (or in Spanish, proyecto industrial estratégico (“PIE”)) acts to simplify the administrative procedures associated with the development of industrial projects and intends to substantially reduce permitting timelines. For more information on PIE status, please visit: https://oficinaeconomicagalicia.xunta.gal/es/proxectos-industriais-estratexicos
Atalaya Mining Permits
Main Deposits
Mineral Occurrence
Touro Water Treatment Plant
Atalaya is now operating a new water treatment plant at Touro, which is addressing the legacy issues associated with acid water runoff from the historical mine, which closed in 1987. The construction of the treatment plant was contemplated in the original project proposal, but Atalaya volunteered to fix the historical acid water issues prior to the new Environmental Impact Assessment (“EIA”) in order to demonstrate its operating philosophy and the benefits of modern operating systems. The field work carried out has resulted in an immediate and visible improvement of the water systems surrounding the project.
TOURO 2018 ECONOMIC STUDY
| Proven & Probable Reserves | kt | 90,906 |
| Copper grade | % | 0.43 |
| Copper contained | kt | 392 |
| Waste rock | kt | 221,330 |
| Strip ratio | Ratio | 2.43 |
| Copper concentrate grade | % | 29.2 |
| Copper recovery rate | % | 88.6 |
| Copper concentrate (dry) | kt | 1,189 |
| Copper contained in concentrate | kt | 347 |
| Payable copper contained in concentrate | kt | 341 |
| Payable silver contained in concentrate | koz | 925 |
| Development capital | $m | 165 |
| Expansion capital | $m | 30 |
| Sustaining capital | $m | 64 |
| Total Life-of-Mine capital | $m | 260 |
| Mine life | Years | 12 |
| Copper production per annum (contained) | kt | 30 |
| C1 Cash Costs (net silver credits) | $/lb | 1.73 |
| AISC (net silver credits) | $/lb | 1.85 |
| NPV after tax @ 8% | $m | 180 |
| IRR | % | 20.5 |
| Copper price | $/lb | 3.00 |
| EUR:USD | Ratio | 1.15 |
RESERVES & RESOURCES
| Grade | Contained Metal | ||
| Tonnage | Cu | Cu | |
| Mt | Mt | ||
| Touro | |||
| Proven & Probable Reserves | 90.9 | 0.43% | 0.39 |
| Measured & Indicated Resources | 129.9 | 0.39% | 0.51 |
| Inferred | 46.5 | 0.37% | 0.17 |
| Total Resources | 176.4 | 0.38% | 0.68 |
Scroll horizontally on the table to see more data.
Unless otherwise noted, all scientific and technical information relating to Proyecto Touro is based on and derived from a technical report entitled “Technical Report On the Mineral Resources and Reserves of the Touro Copper Project” dated April 2018, prepared by Alan C. Noble, P.E. of Ore Reserves Engineering, in association with William Rose, P.E., WLR Consulting, Inc. and Jay T Pickarts, P.E. (the “Touro Technical Report”), each of whom are “Qualified Persons” as defined in the Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Project (“NI 43-101”). The information contained herein is subject to all of the assumptions, qualifications and procedures set out in the Touro Technical Report and reference should be made to the full details of the Touro Technical Report which is filed under the Company’s corporate profile on SEDAR at www.sedar.com and on its website.