Atalaya Mining (LSE:ATYM) delivered copper production of 51,139 tonnes in 2025, reaching the upper end of its guidance range. Performance was supported by record annual plant throughput at the Proyecto Riotinto operation, improved recoveries in the fourth quarter and a sharp increase in copper sales volumes. Higher realised copper prices also helped the group close the year with a strong net cash position of €122 million.
Looking ahead, the company guided 2026 copper output of between 50,000 and 54,000 tonnes. Operational priorities include accelerating waste stripping at the San Dionisio project, continued drilling and engineering work at San Antonio and Masa Valverde, and further intermittent but value-confirming progress on its proprietary E-LIX processing technology. Regulatory progress at Galicia’s Proyecto Touro was also highlighted, supporting longer-term development optionality across the portfolio.
Management said these initiatives position Atalaya to benefit from strengthening copper market fundamentals while enhancing the scale and longevity of production from its Iberian asset base.
From a market perspective, Atalaya Mining’s shares are underpinned by strong financial performance, solid profitability and disciplined cash flow management. Technical indicators point to bullish momentum, although valuation metrics are less compelling, slightly moderating the overall outlook.
More about Atalaya Mining
Atalaya Mining is a Spain-focused copper producer listed on the London Stock Exchange. The company operates the Proyecto Riotinto complex and is advancing a pipeline of copper and polymetallic projects across the Riotinto District and Galicia, including San Dionisio, San Antonio, Masa Valverde and Proyecto Touro, with a strategic focus on higher-grade ore and supporting Europe’s critical raw materials supply chains.
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