Development of solar plant at Proyecto Riotinto

RNS Announcement

RNS Number : 9266Z

Atalaya Mining PLC

24 September 2020

Atalaya Mining Plc.

("Atalaya" or "the Company")

Development of 50MW solar plant at Proyecto Riotinto

Atalaya Mining Plc (AIM:ATYM, TSX:AYM) is pleased to announce that it has started the permitting process to develop a 50MW solar plant at its Proyecto Riotinto (the "Solar Project"). The full capacity of the Solar Project will be used for self-consumption.

Proyecto Riotinto is located in an area with a natural abundance of sunlight which is conducive to solar power generation. Technical studies carried out by a third party during the past months have indicated that, in addition to making a significant contribution to reduce carbon emissions, the Solar Project is economically viable and could potentially contribute to reducing Proyecto Riotinto's operating costs.

The decision to pursue the Solar Project is in line with Atalaya's ongoing commitment to environmental sustainability and to continue to have a positive impact on the people, environment and society surrounding the mine.

During the permitting period, the Company will evaluate the various financing options that are being proposed by industry players in Spain.

Subject to completing the permitting process and securing financing, construction is targeted to commence by mid-2021.

Alberto Lavandeira, CEO, commented:

"We are pleased to be committing to this solar initiative which will be one of the largest projects of renewable self-consumption in the industry. This is only a first step in achieving our long-term sustainability goals, but one that will have a positive and near term impact on Proyecto Riotinto."

Contacts:

Newgate Communications	Elisabeth Cowell / Adam Lloyd / Tom Carnegie	+ 44 20 3757 6880
4C Communications	Carina Corbett	+44 20 3170 7973
Canaccord Genuity (NOMAD and Joint Broker)	Henry Fitzgerald-O'Connor / James Asensio	+44 20 7523 8000
BMO Capital Markets (Joint Broker)	Tom Rider / Michael Rechsteiner / Neil Elliot	+44 20 7236 1010
Peel Hunt LLP (Joint Broker)	Ross Allister / David McKeown	+44 20 7418 8900

About Atalaya Mining Plc

Atalaya is an AIM and TSX-listed mining and development group which produces copper concentrates and silver by-product at its wholly owned Proyecto Riotinto site in southwest Spain. 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. For further information, visit www.atalayamining.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDBLGDCLGDDGGX

RNS metadata

Title: Development of solar plant at Proyecto Riotinto
Time: 07:00:02
Date: 24 Sept 2020
Category: Corporate updates
ID: 9266Z