REG - Atalaya Mining PLC - Extension of Port Handling Agreement

Atalaya MiningAnnouncement

14/12/2023 14:00

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RNS Number : 8771W  Atalaya Mining PLC  14 December 2023

 

14 December 2023

Atalaya Mining Plc.

("Atalaya" or "the Company")

Extension of Port Handling Agreement

 

Atalaya Mining Plc (AIM: ATYM) is pleased to announce that it has entered into
an extension to the services agreement with Impala Terminals Huelva S.L.U.
("Impala Terminals") for the handling, storage and shipment of copper
concentrates produced from Proyecto Riotinto ("2023 Port Handling Extension
Agreement"). The existing agreement expires today.

The 2023 Port Handling Extension Agreement is for a term of approximately five
years and covers the concentrate volumes produced for export from Proyecto
Riotinto that are not already committed to the Trafigura Group ("Trafigura")
under its offtake agreement. In aggregate, the total fees payable to Impala
Terminals from the 2023 Port Handling Extension Agreement, both directly and
indirectly via deductions included in sales invoices, are expected to amount
to approximately €12 million over the life of the agreement.

Impala Terminals is a related party to Trafigura, which is currently a
substantial shareholder in Atalaya and, therefore, is a related party to the
Company. As a result, the 2023 Port Handling Extension Agreement constitutes
an AIM Rule 13 Related Party Transaction.

The Company's independent directors (excluding Trafigura's nominee) consider,
having consulted with its nominated adviser, that the terms of the 2023 Port
Handling Extension Agreement are fair and reasonable insofar as its
shareholders are concerned.

 

Contacts:

 SEC Newgate UK             Elisabeth Cowell / Tom Carnegie / Matthew Elliott  + 44 20 3757 6882
 4C Communications          Carina Corbett                                     +44 20 3170 7973
 Canaccord Genuity          Henry Fitzgerald-O'Connor / James Asensio          +44 20 7523 8000

 (NOMAD and Joint Broker)
 BMO Capital Markets        Tom Rider / Andrew Cameron                         +44 20 7236 1010

 (Joint Broker)
 Peel Hunt LLP              Ross Allister / David McKeown                      +44 20 7418 8900

 (Joint Broker)

 

About Atalaya Mining Plc

Atalaya is an AIM-listed mining and development group which produces copper
concentrates and silver by-product at its wholly owned Proyecto Riotinto site
in southwest Spain. Atalaya's current operations include the Cerro Colorado
open pit mine and a modern 15 Mtpa processing plant, which has the potential
to become a central processing hub for ore sourced from its wholly owned
regional projects around Riotinto that include Proyecto Masa Valverde and
Proyecto Riotinto East. In addition, the Group has a phased earn-in agreement
for up to 80% ownership of Proyecto Touro, a brownfield copper project in the
northwest of Spain, as well as a 99.9% interest in Proyecto Ossa Morena. For
further information, visit www.atalayamining.com
(http://www.atalayamining.com)

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