Atalaya's first-half profit and revenue rise on higher copper output

Atalaya Mining PLC on Tuesday reported higher revenue and profit in the first half of 2025, as it narrowed its copper production guidance range for the year.

The Spain-based mining company said pretax profit rose to €75.8 million in the six months to June 30 from €18.2 million a year earlier, as revenue climbed to €254.8 million from €162.1 million.

In the second quarter, pretax profit increased to €38.3 million from €16.1 million. Revenue came to €124.1 million, up from €92.2 million the year before.

Atalaya reported copper production of 27,466 tonnes in the first half, up from 22,249 a year prior. The all-in sustaining cost was $2.78 per pound, down from $3.19.

The company ended June with a net cash position of €70.1 million, up from €35.1 million at the end of 2024, and declared an interim dividend of €0.044 per share, up from €0.0362 a year earlier.

Looking ahead, Atalaya narrowed its 2025 copper production guidance to between 49,000 and 52,000 tonnes, from 48,000 to 53,000 tonnes previously.

Also, Atalaya lowered its cost outlook. It now anticipates cash costs between $2.60 and $2.80 per pound, compared with the previous range of $2.70 to $2.90, and AISC between $3.10 and $3.30 per pound, from $3.20 to $3.40.

Chief Executive Alberto Lavandeira said: ‘Good production and cost control have resulted in quarterly and half-year records for earnings before interest, tax, depreciation, and amortisation, and our net cash position has further improved thanks to strong free cash flow generation.’

Shares in Atalaya were up 7.1% at 512.00 pence in London on Tuesday morning.

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