Atalaya Mining

Atalaya Mining plc is a leading European copper producer with its primary operations located in the renowned Iberian Pyrite Belt in southern Spain. The company operates the Proyecto Riotinto, a cornerstone asset that includes a processing plant with an annual capacity of over 15 million tonnes, making it one of the largest copper processing facilities in Europe. Riotinto’s key deposits—Cerro Colorado, San Dionisio, and San Antonio—are rich in copper and polymetallic resources, positioning Atalaya as a significant player in the Eu72ropean copper market.

Atalaya’s strategic advantage lies in its well-established infrastructure and access to the critical resources required for sustainable mining, including renewable energy from the national grid and fresh water supplied by local reservoirs. The company is also advancing the Proyecto Masa Valverde (PMV) and Proyecto Touro, both of which have the potential to further expand its copper production profile and position Riotinto as a regional processing hub.

In addition to traditional processing, Atalaya is pioneering the E-LIX Phase I plant, a cutting-edge technology designed to enhance the extraction of high-purity copper and zinc from complex ores, reducing carbon footprint and transportation costs. Atalaya Mining is listed on the London Stock Exchange (LSE: ATYM), with a market capitalization of $726 million as of 2024, and is known for its strong financial discipline, commitment to sustainability, and consistent growth in copper production, supporting Europe’s transition to renewable energy technologies.

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Atalaya Mining offers a compelling investment opportunity through its flagship Proyecto Riotinto, one of Europe’s premier copper assets with long-term potential in the high-demand copper market. Riotinto’s expansive resources, alongside substantial regional infrastructure, give Atalaya a capital-efficient advantage, supporting robust project economics and competitive all-in sustaining costs (AISC). The 2023 Preliminary Economic Assessment (PEA) underscores the strong economic profile, with Riotinto’s high-grade copper and polymetallic deposits driving significant growth potential.

Atalaya’s growth strategy includes expanding Riotinto’s capacity and exploring nearby deposits, such as the Proyecto Masa Valverde (PMV), which offers substantial copper and zinc resources within 30 kilometers of the Riotinto plant. Additionally, the upcoming E-LIX Phase I plant promises to deliver refined copper and zinc with lower carbon emissions and cost efficiencies, positioning Atalaya at the forefront of sustainable and advanced mineral processing in Europe.

With access to a stable supply of renewable energy, water, and an experienced local workforce, Atalaya is ideally positioned to support Europe’s renewable energy shift, which requires significant copper inputs. Investors benefit from Atalaya’s established European base, regulatory advancements, and long-term asset potential, making it a strategic play for exposure to the growing copper market driven by the global transition to green energy.

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Atalaya Mining plc is led by a seasoned management team with a deep expertise in mining, operations, and sustainable development, positioning the company for growth and long-term success in European copper production.

At the helm is Alberto Lavandeira, Chief Executive Officer, who brings over 40 years of industry experience, particularly in the development and management of large mining projects in Spain. His leadership has been instrumental in the expansion of Proyecto Riotinto and in establishing Atalaya’s reputation for operational efficiency and regulatory compliance.

César Sánchez, Chief Financial Officer, leads the financial strategy, bringing extensive experience in finance within the natural resources sector. His focus on fiscal discipline and capital management has been central to Atalaya’s consistent financial performance, allowing for continued growth and reinvestment in its assets.

Enrique Delgado, General Manager Proyecto Riotinto, started his career as a metallurgist in Riotinto Mine and has vast experience in the mining sector, serving as CEO and director at various institutions.

This accomplished team, supported by an experienced Board of Directors with expertise in mining, finance, and environmental stewardship, drives Atalaya’s mission to create value through responsible copper production, operational excellence, and sustainable growth.

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Atalaya Mining plc is executing a growth strategy focused on maximizing value from its core asset, Proyecto Riotinto, while expanding its regional footprint to become a premier copper producer in Europe. The company's strategy centers on increasing production efficiency, scaling its processing capabilities, and advancing nearby deposits to establish Riotinto as a regional processing hub.

Key to Atalaya’s growth is the recent launch of the E-LIX Phase I plant, a proprietary technology developed to refine copper and zinc from complex ores with reduced environmental impact. This cutting-edge technology is expected to enhance recovery rates, reduce processing costs, and lower carbon emissions, aligning Atalaya with Europe’s renewable energy and sustainability targets.

The development of additional resources, such as the Proyecto Masa Valverde (PMV) and Proyecto Touro, underpins Atalaya’s long-term production growth. Located near the Riotinto plant, PMV’s high-grade copper and zinc zones are projected to integrate seamlessly with existing infrastructure, minimizing capital expenditures. Concurrently, Proyecto Touro offers additional growth potential with its favorable location and extensive infrastructure, enabling Atalaya to expand copper production with lower upfront costs.

Atalaya’s growth strategy is also supported by sustainable initiatives, including a 50 MW solar power plant designed to lower the company’s carbon footprint and generate cost savings. This focus on renewable energy underscores Atalaya’s commitment to responsible mining, environmental stewardship, and supporting Europe’s green transition.

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Atalaya Mining plc is financially well-positioned, supported by a robust asset base and a disciplined approach to capital allocation. The company’s flagship Proyecto Riotinto, with its established infrastructure and low capital intensity, drives strong cash flow generation, while competitive all-in sustaining costs (AIS36C) further enhance its profitability. As of June 2024, Atalaya’s market capitalization is approximately $726 million, and its net cash position of €36 million underscores its financial resilience.

In recent quarters, Atalaya has maintained solid production levels and cost efficiency, despite market volatility. The 2023 Preliminary Economic Assessment (PEA) for Riotinto highlights attractive project economics, with a notable after-tax NPV, supported by favorable copper prices. In Q1 2024, Atalaya reported revenues of €69.9 million and EBITDA of €10.3 million, reflecting its operational efficiency and effective cost management.

Atalaya’s strong cash flow supports strategic reinvestment into expansion projects, such as the E-LIX Phase I plant, which promises cost-effective metal recovery and additional revenue streams. Future development of the nearby Proyecto Masa Valverde (PMV) and Proyecto Touro is expected to further enhance Atalaya’s production profile with minimal capital expenditure due to their proximity to existing infrastructure.

The company remains committed to financial discipline, sustainable growth, and delivering long-term shareholder value by managing a strong balance sheet, reinvesting in high-return projects, and maintaining a competitive cost structure within the copper industry.

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Atalaya Mining plc is poised for growth as a leading European copper producer, with its flagship Proyecto Riotinto serving as the backbone of its operations in Spain’s mineral-rich Iberian Pyrite Belt. With a focus on expanding production capacity, integrating advanced extraction technologies, and maintaining sustainability at the core of its operations, Atalaya is well-positioned to meet the rising demand for copper driven by Europe’s green energy transition.

Supported by a strong balance sheet, efficient cost structure, and a committed management team, Atalaya leverages both its well-established infrastructure and proximity to additional high-grade resources like Proyecto Masa Valverde and Proyecto Touro. The innovative E-LIX Phase I plant further reinforces Atalaya’s position as a forward-thinking company with a commitment to cost-effective and environmentally responsible mining practices.

For investors seeking exposure to the copper market with long-term potential, Atalaya Mining offers a unique opportunity. The company’s disciplined approach to growth, regulatory compliance, and community engagement underscores its commitment to responsible mining, ensuring Atalaya remains not only a valuable investment but also a sustainable operator in the European mining landscape.

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