Atalaya Mining Raises £130m to Fast-Track Copper Growth Pipeline in Spain

Atalaya Mining (LSE:ATYM) has raised £130 million in gross proceeds through an equity fundraise that was significantly oversubscribed. The transaction comprised a placing of 12.73 million new shares with institutional investors and existing shareholders, alongside a retail offer of 270,000 shares, all priced at £10.00 per share. The new equity represents around 9.2% of the company’s issued share capital prior to the fundraise and includes participation from a non-executive director, further broadening Atalaya’s institutional shareholder base.

The proceeds will be used to accelerate development across Atalaya’s copper growth projects in Spain, strengthen the balance sheet and enhance financial flexibility, particularly in relation to advancing the Proyecto Touro development. Management said the capital raise positions the company to push forward its broader Riotinto District pipeline while taking advantage of supportive copper market conditions. The newly issued shares are expected to begin trading on the London Stock Exchange on 2 February 2026.

From an outlook perspective, Atalaya is supported by strong profitability, improving free cash flow generation and relatively low leverage, providing a solid financial foundation for executing its growth strategy. These strengths are balanced by technical indicators that suggest the shares are currently overbought, increasing the risk of near-term volatility. Valuation metrics are considered moderate, with the investment case also reflecting a relatively low dividend yield.

More about Atalaya Mining

Atalaya Mining Copper, S.A. is a European copper producer that owns and operates the Proyecto Riotinto mining complex in southwest Spain, including the Cerro Colorado open pit mine and a 15 million tonne per annum processing plant that serves as a regional hub. Listed on the London Stock Exchange’s Main Market and a member of the FTSE 250, the company is expanding its asset base through a pipeline of development projects, including Proyecto Masa Valverde, Proyecto Riotinto East, the Proyecto Touro brownfield copper project in northwest Spain and Proyecto Ossa Morena.