It took almost 5 years longer than we originally expected when we started to follow Atalaya Mining’s (AYM.TO, ATYM.L) predecessor ‘EMED Mining’, but Atalaya has finally reached its nameplate capacity of 9.5 million tonnes per year (26,000 tonnes per day) at its Riotinto copper project in Spain’s Andalucia province.
That’s right in time to take advantage of the higher copper price, as Atalaya Mining now expects to produce 34,000-40,000 tonnes of copper (mid-point: 37,000 tonnes or 81.5 million pounds) in 2017. As the Riotinto mine was always expected to be a relatively high cost producer, every 5 cent difference in the copper price will have a huge impact on its bottom line and free cash flow results.
Go to Atalaya’s website
The author has no position in Atalaya Mining. Please read the disclaimer
