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Atalaya Mining Copper SA on Tuesday reaffirmed its full-year guidance after second-quarter copper output fell from the previous quarter, though rose on an annual basis, supported by stronger ore grades.
The Spain-based mining company reported copper production of 13,175 tonnes in the second quarter of 2025, down from 14,291 tonnes in the first quarter, but up from 11,583 tonnes a year prior. Output was driven by higher ore grades of 0.4% but partially offset by lower recovery rates.
Average realised copper prices for the quarter stood at $4.27 per pound, down from $4.54 a year before and roughly flat versus $4.26 in the first quarter.
Atalaya maintained its 2025 production guidance of 48,000 to 52,000 tonnes of copper and forecast all-in sustaining costs of $3.20 to $3.40 per pound, alongside cash costs of $2.70 to $2.90.
The company said mining and processing performance at its Proyecto Riotinto complex remained consistent, supporting a growing cash position. At the end of June, net cash stood at €70.1 million, up from €35.1 million at the end of 2024.
Chief Executive Officer Alberto Lavandeira said the company is ‘well-placed to deliver on our organic copper growth pipeline’ as copper continues to be viewed as a strategic commodity globally.
Atalaya is also advancing projects at San Dionisio, Masa Valverde, and Touro, while progressing a ramp-up at its E-LIX phase I plant and exploratory programmes in Sweden.
Shares in Atalaya Mining were 0.7% higher at 478.88 pence in London on Tuesday morning.
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