Mining Operations Update:
– In Q4 2023, Atalaya Mining successfully mined 3.7 million tonnes of ore, maintaining its pace with previous quarters and the same period in 2022.
– The waste mined in Q4 2023 saw an increase to 7.4 million tonnes, compared to 5.3 million tonnes in Q4 2022. This escalation is attributed to intensified waste mining activities at Cerro Colorado, preparing for equipment transfer to the San Dionisio area.
– Overall, in FY2023, the total ore mined equaled 14.9 million tonnes, with waste mining reaching 32.2 million tonnes.
Processing Operations Update:
– The processing plant handled 4.1 million tonnes of ore in Q4 2023, slightly higher than in the same period last year.- Throughout FY2023, the plant processed a total of 15.8 million tonnes of ore, exceeding the nameplate capacity of 15 million tonnes per annum.
– Copper grade for Q4 2023 was recorded at 0.36%, slightly lower than in Q4 2022, partly due to adverse weather conditions impacting access to higher-grade areas.
– Copper recovery rates in Q4 2023 stood at 85.39%, demonstrating efficient processing despite the lower grades.
Production and Financial Highlights:
– Copper production in Q4 2023 was 12,775 tonnes, with FY2023’s total production reaching 51,667 tonnes, slightly below the guided range.
– On-site copper concentrate inventories at the end of Q4 2023 amounted to approximately 6,722 tonnes.
– The average realised copper price in Q4 2023 was $3.78/lb.
– Atalaya Mining’s balance sheet remains robust with consolidated cash and cash equivalents of EUR119.7 million as of 31 December 2023.
Renewable Energy Initiatives:
– The company is progressing with the construction of a 50 MW solar plant at Riotinto, which is expected to provide about 22% of Riotinto’s current electricity needs.
– Additionally, the potential installation of wind turbines at Riotinto is being evaluated, which could further augment the supply of low-cost, carbon-free electricity.
2024 Production Guidance:
– For FY2024, copper production is anticipated to be between 51,000 to 53,000 tonnes, mirroring the production levels of FY2023. The production in 2024 is expected to be slightly higher in the second half of the year due to the projected grade profile.
– Further details regarding operating costs and capital expenditure for 2024 will be disclosed in the upcoming 2023 Annual Results report. 
