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 the 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
Atalaya is undertaking a strategic review to evaluate its strategic options. The company confirmed the review in response to media speculation that the Trafigura-backed copper producer is looking for a buyer.
In the interim, Atalaya will continue to execute its current business plan, which includes the expansion of Riotinto.
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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