11th Aug 2026 11:25
(Alliance News) - Atalaya Mining Copper SA on Tuesday reported increased revenue, as well as record quarterly and half-yearly earnings, thanks to higher copper prices.
The owner and operator of Spain's Proyecto Riotinto copper mine reported revenue of EUR147.4 million for the second quarter of 2026, up from EUR124.1 million a year before.
Copper production rose to 13,493 tonnes from 13,175 tonnes. All-in sustaining costs decreased to USD2.79 per pound payable from USD2.81, "despite the cost impact of the Middle East conflicts".
Earnings before interest, tax, depreciation and amortisation rose to what Atalaya said was a record EUR78.2 million in the quarter, up from EUR55.1 million a year before. Pretax profit increased to EUR65.4 million from EUR38.3 million.
For the first half of the year, revenue grew to EUR264.7 million from EUR254.8 million. Copper production, however, decreased to 23,432 tonnes from 27,466 tonnes.
Ebitda increased to EUR126.2 million, also a record, from EUR107.6 million a year before. Pretax profit climbed to EUR100.8 million from EUR75.8 million.
"We are pleased to have generated the highest quarterly and half-year Ebitda in Atalaya's history, thanks to strong copper prices, solid Q2 production and good cost performance," Chief Executive Alberto Lavandeira commented. "This translated into free cash flow of over EUR58 million during the quarter, which is also a record for Atalaya."
Atalaya declared an interim dividend of 5.5 euro cents per share for the half-year, up 25% from 4.4 cents for the same period in 2025.
Looking ahead, Lavandeira noted: "We are maintaining our prior guidance for FY2026 production, cash costs and AISC, despite experiencing higher diesel and explosives prices following the start of conflicts in the Middle East."
Atalaya said it continues to expect production at the lower end of its original guidance ranges of 50,000 to 54,000 tonnes of copper and 900,000 to 1.1 million ounces of silver from copper concentrate. Its guidance ranges for cash costs and AISC are USD2.60 to USD2.90 a pound, and USD3.10 to USD3.40 per pound of copper payable, respectively.
"With our strong net cash position, we are well-placed to fund our various growth projects in Spain, especially Proyecto Touro in Galicia, where we understand that the environmental impact statement is nearing completion."
Atalaya's cash and equivalents totalled EUR350.3 million as of June 30, up from EUR166.3 million as of December 31.
The company's stock was 0.7% higher at 999.00 pence on Tuesday in London, having earlier been up 3.3% on the day.
By Emma Curzon, Alliance News reporter
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