SOURCE: Atalaya Mining PLC

April 14, 2016 02:00 ET

Atalaya Mining PLC Announces First Quarter 2016 Operational Update

NICOSIA, CYPRUS--(Marketwired - Apr 14, 2016) - Atalaya Mining plc (AIM: ATYM) (TSX: AYM)

Atalaya Mining plc
("Atalaya" or the "Company")
First Quarter 2016 Operational Update

Atalaya Mining plc (AIM: ATYM; TSX: AYM), the European mining and development company, is pleased to report that operations are progressing according to plan and that the Expansion Project is nearing mechanical completion.

Operational Highlights

Processing plant

  • Following a nine-month ramp-up phase, the processing plant has now achieved an annualised throughput rate of 4.9Mtpa in line with the design criteria of the original Phase 1 plan.
  • During the quarter, overall copper recoveries were consistently above 82% and concentrate specifications were within commercial terms.

Expansion Project

  • The Expansion Project is 92% complete with final construction activities and tie-ins to existing operations pending.
  • Pre-commissioning checks are already ongoing on certain sections of the Expansion Project. Commissioning crews and vendor representatives are mobilised to site.
  • Commissioning activities are scheduled to commence in early May with ramp-up to final design capacity expected to take place during the second and third quarters of the year.
  • Additional mining fleet has been mobilised to site and is ready to deliver ore at the expanded rate of 9.5Mtpa.

Alberto Lavandeira, CEO commented:

"We have been able to fast track the Expansion Project owing to the dedication and commitment of our team who have worked tirelessly to ensure that Proyecto Riotinto will return to maximum production significantly ahead of schedule and well under budget. Having declared commercial production in February, 2016 is shaping up to be a transformational year for Atalaya."

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Atalaya Mining plc   Roger Davey
Alberto Lavandeira
  +34 959 59 28 50
Canaccord Genuity (NOMAD and Broker)   Henry Fitzgerald-O'Connor Martin Davison   +44 20 7523 8000
4C Communications (Investor Relations Europe)   Carina Corbett   +44 20 3170 7973
Roth Investor Relations (Investor Relations North America)   Michelle Roth   +1 732 792 2200
Walbrook PR (Media Relations)   Nick Rome   +44 20 7933 8783

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