Atalaya Mining PLC Extension of Port Handling Agreement (8771W)
14 Dicembre 2023 - 2:49PM
UK Regulatory
TIDMATYM
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 EUR12 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:
Elisabeth Cowell / Tom
SEC Newgate UK Carnegie / Matthew Elliott + 44 20 3757 6882
4C Communications Carina Corbett +44 20 3170 7973
------------------------------- ------------------
Canaccord Genuity
(NOMAD and Joint Henry Fitzgerald-O'Connor
Broker) / James Asensio +44 20 7523 8000
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BMO Capital Markets
(Joint Broker) Tom Rider / Andrew Cameron +44 20 7236 1010
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Peel Hunt LLP
(Joint Broker) Ross Allister / David McKeown +44 20 7418 8900
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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
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END
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December 14, 2023 08:49 ET (13:49 GMT)
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