14th Jul 2026 10:42
(Alliance News) - Atalaya Mining Copper SA on Tuesday reported increased copper production for the second quarter, and said it still expects full-year figures at the lower end of its guidance ranges.
Atalaya shares traded 4.2% higher at 828.00 pence late on Tuesday morning in London.
The owner and operator of the Proyecto Riotinto copper mine in southwest Spain said overall copper production climbed to 13,493 tonnes in the second quarter of 2026, from 13,175 tonnes for the previous year and from 9,939 tonnes in the first quarter.
Atalaya mined 4.0 million tonnes of ore, up from 3.5 million the year before. Ore processed rose to 4.1 million tonnes from 4.0 million, and was unchanged quarter-on-quarter.
Waste mined at Proyecto Riotinto's Cerro Colorado pit, meanwhile, rose on-quarter to 10.3 million tonnes from 10.2 million but declined on-year to 12.6 million tonnes. At San Dionisio, waste mined totalled 3.2 million tonnes.
The copper grade decreased on-year to 0.39% from 0.43%, but improved from 0.30% in the first quarter. Copper recovery increased annually to 83.91% from 76.75%.
The realised copper price increased on-year to USD6.14 a pound from USD4.27.
"We are pleased to have delivered a strong quarter of production, where grades improved compared to Q1 2026 and the mill performed well once again," commented Chief Executive Officer Alberto Lavandeira. "Copper prices remain robust and we have seen only modest cost impacts from the conflicts in the Middle East, therefore our cash position increased materially during the quarter."
He added: "Various growth-related activities across our asset portfolio continue to advance, most notably in relation to Touro, where the permitting process is nearing completion according to senior officials in Galicia."
The company noted that a drilling programme is ongoing at the Guijarro gold project, with seven holes completed during the quarter.
Also, it said two holes were completed at the Cerro Negro permit, and that laboratory assays are now complete following winter drilling at the Skellefte Belt and Rockliden land packages in Sweden.
Looking ahead, Atalaya still expects full-year copper production to be at the lower end of its guidance range of 50,000 tonnes to 54,000 tonnes. It also said it expects production of silver contained in copper concentrate at the lower end of its 900,000 ounces to 1.1 million ounces range.
"We are pleased to see the continued strength in the copper market, with robust demand coming from the global build-out of data centre infrastructure and supply challenges from major operations," Lavandeira said. "As a result, we enter the second half of 2026 with strong optimism."
By Emma Curzon, Alliance News reporter
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