Proyecto Riotinto expansion, Spain
Name of the Project
Proyecto Riotinto expansion.
Location
Spain.
Client
Atalaya Mining.
Project Description
Atalaya has approved the 15-million-tonne-a-year expansion plan at Proyecto Riotinto.
The expansion plan is designed to upgrade processing facilities to increase copper production to between 50 000 t/y and 55 000 t/y.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
Management expects the expansion project to result in an incremental post-tax net present value, at an 8% discount rate, of $113-million and a post-tax internal rate of return of about 43%, assuming a $3/lb copper price, an $18/oz silver price and a dollar:euro ratio of 1.15.
Value
The capital cost of the project has been estimated at €80.4-million.
Duration
Subject to completion of financing arrangements and permitting activities, it is expected that ground construction works will start during the first quarter of this year, with commissioning scheduled for the second half of 2019 and nominal production during the first half of 2020.
Latest Developments
The expansion of Atalaya Mining’s Proyecto Riotionto’s expansion to 15-million tonnes a year is progressing according to schedule, with engineering progressing to completion and site construction activities progressing a pace. Procurement had progressed to 38% and engineering has progressed to 82% completion.
Earthworks are expected to be complete in the third quarter this year. The expansion project is scheduled for mechanical completion at the end of the second quarter 2019.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
Atalaya Mining, tel +357 2244 2705, fax +357 2242 1956 or email info@atalayamining.com.
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