SOURCE: Atalaya Mining PLC

January 17, 2017 02:00 ET

Atalaya Mining PLC: 2016 Operations Update

NICOSIA, CYPRUS--(Marketwired - Jan 17, 2017) - Atalaya Mining PLC (AIM: ATYM) (TSX: AYM)

AIM: ATYM, TSX: AYM

ATALAYA MINING PLC
("Atalaya" or the "Company")
2016 Operations Update
Copper production in line with high end of production guidance
Atalaya (AIM: ATYM, TSX: AYM), the European mining and development company provides an operations update for Proyecto Riotinto in respect of 2016.

The Company achieved nameplate capacity of 9.5Mtpa, with copper production, recoveries and ore processed increasing on a quarter-on-quarter basis throughout the period.

2016 Highlights

  • Copper production during 2016 amounted to 26,179 tonnes, in line with the high end of our 2016 production guidance. Contained copper production during Q4 2016 was 8,938 tonnes (Q3 2016: 8,752 tonnes).
  • Average copper recoveries during 2016 were 83.29%. Recoveries increased to 84.47% during Q4 2016, compared with 83.60% during Q3 2016.
  • A total of 6.5Mt of ore was processed during 2016. Processing rates during Q4 2016 were similar to those of Q3 2016, reporting 2.0 million tonnes of ore.
  • 2017 production guidance is forecast to be between 34,000 and 40,000 tonnes of copper in concentrate.

Production Ramp-up
During 2016, the processing plant was running at 5.0 Mtpa up until May when the Expansion Project was brought on line. Since then, a ramp-up programme was executed resulting in the attainment of nameplate capacity of 9.5 Mtpa in December 2016.

Overall, the Company achieved an annual processing rate of 6.5Mt of ore for 2016. Processing rates during Q4 2016 were similar to Q3 2016 reporting 2.0 million tonnes of ore.
Scheduled maintenance inspections were executed at the end of December 2016 and early January 2017, resulting in an overall availability of the process plant of 94.8% for 2016.

Contacts:

Atalaya Mining plc   Roger Davey / Alberto Lavandeira   +34 959 59 28 50
Canaccord Genuity (NOMAD and Joint Broker)   Henry Fitzgerald-O'Connor / Martin Davison   +44 20 7523 8000
BMO Capital Markets (Joint Broker)   Jeffrey Couch/Neil Haycock/Tom Rider   +44 20 7236 1010

Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/2878U_1-2017-1-16.pdf

This information is provided by RNS
The company news service from the London Stock Exchange
END

Contact Information