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Atalaya hits nameplate capacity at Rio Tinto project, outlines FY'17 guidance

Atalaya Mining plc on Dec. 19 said it achieved nameplate capacity of 9.5 million tonnes per annum in December at its Proyecto de Rio Tinto copper-silver project in Spain.

The plant ran at full capacity for 10 consecutive days, treating an average 28,685 dry tonnes of ore per day.

The company expects to keep the above treatment rate during 2017 and is aiming to produce 34,000 tonnes to 40,000 tonnes of copper, which will generate positive cash flow for the company at current copper prices.

In addition, Atalaya Mining reached a deal with its mining contractor to defer an €8 million payment until 2018, enabling the company to cover current working capital needs.