Atlantic Copper has reported a successful financial year for 2023, with sales reaching €2,597 million, marking a 12% increase from the previous year. This growth comes despite the challenges of rising raw material costs, which amounted to €2,337 million, and operating expenses of €173 million. The Huelva-based company managed to overcome these obstacles, attributing its positive financial outcome to higher copper and precious metals sales, along with a significant reduction in energy prices in the latter half of the year.
The company’s operating margin saw an improvement, totaling €36 million, thanks to decreased energy costs and increased product margins. General Manager Macarena Gutiérrez highlighted the importance of the EU Council’s recent approval of the Fundamental Raw Materials Regulation, recognizing copper and nickel as strategic raw materials.
In a commitment to sustainability, energy efficiency, and safety, Atlantic Copper plans to invest €245 million in 2024. A major portion of this investment, €203 million, is allocated to the CirCular project, aimed at recycling metals from electronic waste. The investment plan also includes a scheduled maintenance shutdown and various initiatives geared towards sustainability and energy conservation.
Atlantic Copper’s R&D efforts, averaging €10 million annually, have led to significant projects aimed at reducing the company’s water footprint, such as a new plant for recycling process water to cut water usage by 25%.
On the industrial front, the company processed over one million tons of copper ore concentrate and produced significant quantities of cathodes and sulfuric acid, among other products. Sales were almost evenly split between the domestic market (53%) and exports (47%) to approximately thirty countries, primarily in the Mediterranean basin.
The company also emphasized its progress in environmental sustainability, noting a 40% reduction in greenhouse gas emissions, a 30% decrease in energy consumption per ton of concentrate processed, and significant reductions in particulate matter. These achievements reflect a substantial investment of around €165 million in environmental improvements over the last decade.
Atlantic Copper’s commitment to its workforce and community is evident in its stable employment practices, with 92% of its 739 employees on permanent contracts. The company has also made strides in gender diversity, doubling the number of women in its workforce to 19%. Additionally, the Atlantic Copper Foundation has played a pivotal role in supporting educational and environmental initiatives in Huelva, investing over €6.3 million since its inception. 
