Operations at a mining site. Credit: Shane McLendon on Unsplash.

Cyprus-based copper mining firm Atalaya Mining, which owns 100% interest in the Proyecto Riotinto copper deposit in Andalucia, Spain, is reportedly seeking buyers for a takeover.

The company, which is majority-owned by Swiss trading firm Trafigura and Chinese smelter and refiner Yanggu Xiangguang Copper, has reached an agreement with the Bank of Montreal, a Canadian investment bank, to assist with the proposed divestment, Reuters reported citing unnamed sources.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Atalaya is estimated to have a market capitalisation of $433m. Last year, the company produced 166,000t of copper concentrate.

Trafigura and Yanggu Xiangguang own 22% each in Atalaya, while Liberty Metals & Mining Holdings and Orion Mine Finance have a combined shareholding of 28%.

Atalaya purchased the Proyecto Riotinto mining complex from Rio Tinto around 20 years ago. Production at the mine resumed in 2016 at an initial processing rate of 5Mtpa.

“The board confirms that it is undertaking a review to evaluate the company’s strategic options.”

In response to the media speculation regarding potential sale, Atalaya Mining issued a statement that read: “As part of its ongoing responsibility to its stakeholders, the board confirms that it is undertaking a review to evaluate the company’s strategic options. The review is ongoing and there is no guarantee that any particular course of action will proceed.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“The company will update the market if appropriate and continues to execute on its current business plan, which includes the expansion at Proyecto Riotinto and the development of Proyecto Touro.”

In July this year, the company reported a 29% increase in open pit mineral reserves at Proyecto Riotinto.

As per the update, the Cerro Colorado pit is estimated to contain aggregate open pit proven and probable mineral reserves of 197Mt grading 0.42%Cu.