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Atalaya Mining ups its 2021 copper production guidance on strong performance at Proyecto Riotinto

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(Kitco News) - Atalaya Mining (TSX:AYM) today announced that copper production in Q3 2021 at its Proyecto Riotinto site in Spain remained strong at 13,933 tonnes.

As a result of the strong performance at Proyecto Riotinto year-to-date, the company said it is increasing its 2021 copper production guidance to 54,000-56,000 tonnes, up from 52,000-54,000 tonnes previously stated.

The plant processed 3.9 million tonnes of ore during Q3 2021, equivalent to a throughput rate of nearly 16 Mtpa, which included a planned SAG mill maintenance shutdown in the period.

Recoveries of 87.29% were better than budgeted and helped to offset the impact of the mill shutdown and lower grades, resulting in only a modest decrease in copper production compared with previous quarters, the company added.

CEO Alberto Lavandeira commented, "Another robust quarter with strong production figures and healthy copper prices has allowed the company to continue to strengthen its balance sheet despite COVID-19 related challenges. With the operations at Proyecto Riotinto working smoothly, and the new project design of Proyecto Touro having been completed for the final permitting phase, the Company is well positioned to deliver near-term production growth and long-term extension of mine life."

Atalaya is a 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.

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