Trafigura Beheer BV-backed Atalaya Mining PLC tapped Bank of Montreal to help in its search for a prospective buyer, Reuters reported Oct. 11, citing two banking sources.

In 2017, the Cyprus-based company produced 166,000 tonnes of copper concentrate, and has a market capitalization of £327 million. The company's main asset, the Proyecto de Rio Tinto copper mines, is located in Spain.

Trafigura and Chinese smelter and refiner Yanggu Xiangguang Copper Co. Ltd. each hold a 22% stake in Atalaya, while Liberty Metals and Mining Holdings LLC and Orion Mine Finance hold a combined 28% stake in the company.

Atalaya and Trafigura declined to comment on the matter, Reuters noted.