Atalaya owns the Proyecto Riotinto mine in Spain.
Copper miner Atalaya Mining is undertaking a review to evaluate its strategic options, the dual-listed miner confirmed on Friday, sending its shares in London up 15%.
Atalaya, which owns the Proyecto Riotinto mine and Proyecto Touro development project in Spain, confirmed the strategic review in response to media speculation that the Trafigura-backed copper producer is looking for a buyer.
In the meantime, Atalaya will continue to execute its current business plan, which it said included the expansion of Riotinto and the development of Touro.
Production at the Riotinto mine exceeded expectations in the third quarter, delivering 11 055 t. The company’s guidance for 2018 is to produce 39 000 t to 41 000 t of copper.
Atalaya’s share price surged 15% to 262p a share on the Aim on Friday.