Atalaya Mining PLC Announces Full Mechanical Completion of 15Mtpa Expansion

RNS London Stock Exchange


Atalaya Mining PLC Announces Full Mechanical Completion of 15Mtpa Expansion

Monday, August 19, 2019 2:00 AM

15Mtpa expansion at Proyecto Riotinto reaches full mechanical completion

NICOSIA, CYPRUS / ACCESSWIRE / August 19, 2019 / Atalaya Mining Plc (AIM:ATYM)(TSX:AYM), the European mining and development company, is pleased to announce that the Expansion Project to 15Mtpa has reached full mechanical completion. The new SAG mill, new primary crusher and all associated equipment have now been running continuously and are ready to start receiving ore and ramp up production during wet commissioning. The additional electricity supply for the expansion is expected to come on stream during Q3 2019.

As reported by the Company in previous announcements, the new flotation and concentrate handling areas have also been completed and are operating normally.

The Company believes the start-up of the expanded plant will reach its nameplate capacity of 15Mtpa by December 2019. This Expansion Project demonstrates once again the Company's ability to achieve low capital intensity projects in a timely and cost effective manner.

Alberto Lavandeira, CEO, commented:

"This expansion is a milestone for Atalaya. It will increase copper production, improve operational efficiencies, reduce maintenance requirements and lower operating cash costs for the Company."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) no 596/2014.

Contacts:

Newgate Communications

Elisabeth Cowell / Adam Lloyd / Tom Carnegie

+ 44 20 3757 6880

4C Communications

Carina Corbett

+44 20 3170 7973

Canaccord Genuity (NOMAD and Joint Broker)

Henry Fitzgerald-O'Connor / James Asensio

+44 20 7523 8000

BMO Capital Markets (Joint Broker)

Jeffrey Couch / Tom Rider / Michael Rechsteiner / Neil Elliot

+44 20 7236 1010

Peel Hunt LLP (Joint Broker)

Ross Allister / David McKeown

+44 20 7418 8900

About Atalaya Mining Plc

Atalaya is an AIM and TSX-listed mining and development group which produces copper concentrates and silver by-product at its wholly owned Proyecto Riotinto site in southwest Spain. In addition, the Group has a phased, earn-in agreement for up to 80% ownership of Proyecto Touro, a brownfield copper project in the northwest of Spain which is currently in the permitting stage. For further information, visit www.atalayamining.com.

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SOURCE: Atalaya Mining PLC


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