Atalaya Mining reported its operational results for the first quarter of 2026, which were notably impacted by heavy rainfall affecting activities at Proyecto Riotinto. Copper production reached 9,939 tonnes, lower than in previous quarters, mainly due to limited access to mining areas and the processing of lower-grade ore. Nevertheless, the company expects to recover part of this shortfall in the coming months and maintains a positive outlook for the full year.
From an operational standpoint, ore mined and processed remained relatively stable, although copper grade declined to 0.30% compared to previous periods. Metallurgical recovery stood at around 81.5%, while sales also decreased in line with lower production. On the positive side, the realized copper price was significantly higher, reaching $5.87 per pound, which helped partially offset the operational impact.
Financially, Atalaya closed the quarter with a strong cash position of €279.3 million, supported by the capital increase completed in January 2026. This provides the company with a solid net cash position and the capacity to fund its growth plans. The company also noted potential cost risks linked to geopolitical developments, although it has not yet experienced significant supply disruptions.
Looking ahead, Atalaya continues to advance its project pipeline, including developments at San Dionisio, Masa Valverde, and the Touro project, which has recently benefited from a favorable court ruling. The company is also exploring new opportunities both in Spain and internationally, including in Sweden, while investing in process optimization and innovation. It remains confident in the strong structural demand for copper driven by electrification and the energy transition.
