Atalaya backs full-year production guidance as profit soars
Atalaya Mining Copper SA on Thursday maintained its full-year production target as it reported increased third-quarter profit and revenue.
The Spain-based mining company said pretax profit in the three months to September 30 multiplied to €13.9 million from €2.4 million a year ago, despite increased operating costs and mine site administrative expenses.
Supporting the bottom line, revenue rose 23% to €106.8 million from €86.8 million a year ago.
Atalaya said copper production increased 1.9% to 12,123 tonnes from 11,901 tonnes a year ago.
Earnings before interest, taxes, depreciation, and amortisation almost doubled to €30.7 million from €17.0 million a year ago. Basic earnings per share multiplied to 7.8 euro cents from 1.7 euro cents.
Looking ahead, Atalaya Mining Copper maintained its financial 2025 copper production target range of 49,000 tonnes to 52,000 tonnes.
The company said it will continue advancing its core growth projects: Riotinto, Touro, Masa Valverde and Ossa Morena.
Chief Executive Alberto Lavandeira said: ‘We are pleased to deliver another quarter of positive financial results, underpinned by solid copper production, strong cost performance and free cash flow generation that has further strengthened our balance sheet. Our operational progress and financial management have ensured that we remain on track to achieve our full-year guidance.’
‘As we look ahead, we are increasingly confident in our copper growth strategy. Governments around the world continue to classify copper as a core critical mineral, while at the same time, miners have demonstrated the many challenges associated with maintaining existing production levels and developing new projects. As a result, copper fundamentals are strengthening quarter by quarter,’ Lavandeira added.
Shares in Atalaya fell 0.7% to 698.00 pence on Thursday morning in London.
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