Atalaya Mining PLC Approval of feasibility study using E-LIX System (4016D)
28 Octubre 2020 - 1:00AM
UK Regulatory
TIDMATYM
RNS Number : 4016D
Atalaya Mining PLC
28 October 2020
28 October 2020
Atalaya Mining Plc.
("Atalaya" or "the Company")
Atalaya approves feasibility study to evaluate production of
cathodes at Proyecto Riotinto using newly developed E-LIX
System
Atalaya Mining Plc (AIM:ATYM, TSX:AYM) is pleased to announce
that it has commenced the execution of a feasibility study to
evaluate the economic viability of producing cathodes from complex
sulphide ores prevalent in the Iberian Pyrite Belt through the
application of a new extraction process called the E-LIX System
(more details below) with a new industrial scale plant (the
"Feasibility Study"). The production of cathodes has the potential
to generate cost savings by reducing charges associated with
concentrate transportation, treatment and refining, and penalty
elements, while also reducing carbon emissions.
About E-LIX System
Refer to Atalaya's website for the full announcement with images
https://atalayamining.com/investors-announcements/
E-LIX System is a newly developed electrochemical extraction
process developed and owned by Lain Technologies Ltd ("Lain Tech")
which is led by Dr. Eva Lain, who holds a PhD in Electrochemistry
research from the University of Cambridge.
Through the application of singular catalysts and
physicochemical conditions, E-LIX System is able to achieve high
metal recoveries under low residence times, by accomplishing rapid
reaction rates while overcoming classic surface passivation issues
that have typically impaired metal recovery from complex sulphide
ores. E-LIX System is considered to be a more environmentally
friendly process than existing technologies; it is a zero emissions
process that does not consume water nor acid and runs under mild
operating conditions (atmospheric pressure and room temperature).
Hence, the process is additionally characterised by ease and safety
of operation.
Development and proof of concept of E-LIX System
The E-LIX System was patented in 2014 by Lain Tech and has been
developed in collaboration with Atalaya from an initial concept in
the laboratory to a fully operational pilot plant located at
Proyecto Riotinto (the "Pilot Plant").
The Pilot Plant with a capacity of 5 tonnes per day has been
running for the past nine months, with only mandatory stoppage
owing to COVID-19 restrictions. Leach rates of up to 250 kilograms
per hour have been achieved processing copper concentrates, zinc
concentrates and blends of different types of sulphides. The Pilot
Plant also contains a solvent extraction and electrowinning
("SX-EW") section and has successfully produced high purity copper
cathodes as a proof of concept. Excellent leach results with
recovery rates well over 90% have been attained. Fast kinetics for
copper and zinc have also been successfully achieved overcoming the
well-known passivation problem of leaching primary sulphides.
The Pilot Plant has demonstrated that the E-LIX System treats
effectively the impurity levels typically associated with the
complex sulphides present in the world-class pyrite belt that runs
through the South of Portugal and Spain and prevalent at Proyecto
Riotinto.
Partnership between Lain Tech and Atalaya
During the past five years Atalaya has provided financial
assistance to Lain Tech to develop the E-LIX System and has now
reached an agreement with Lain Tech to use its patents, on an
exclusive licence basis within the Iberian pyrite belt in Spain and
Portugal ("Licence Agreement").
Under the terms of the Licence Agreement and based on the
encouraging operating results at the Pilot Plant, the Company has
commissioned a Feasibility Study to evaluate the construction of an
industrial scale plant for the production of a minimum of 10,000
tonnes of copper cathode metal a year. The Feasibility Study at a
cost of approximately EUR1 million will be funded by Atalaya and is
expected to be finalised in 2021. The Licence Agreement provides
for a profit sharing arrangement between Atalaya and Lain Tech.
The Feasibility Study will be based on the results obtained from
the Pilot Plant and aims to confirm the scalability of the E-LIX
System and the capital and operating costs of the industrial plant.
Should the industrial plant be built, it will be funded and
constructed by Atalaya with Lain Tech designing, operating and
managing the E-LIX System.
Atalaya believes that the use of the E-LIX System could
potentially be applicable to the large amount of complex sulphide
ore inventory present throughout the Iberian pyrite belt, including
Atalaya's mining properties such as Proyecto Riotinto and Proyecto
Masa Valverde.
Alberto Lavandeira, CEO, commented:
"We are fortunate to have been given this unique opportunity to
work with Dr. Eva Lain in the development of the E-LIX System. I
believe this system has the potential to play an important role in
the economic treatment of many complex orebodies worldwide. We look
forward to updating the market on the results of the Feasibility
Study."
Contacts:
Elisabeth Cowell / Adam Lloyd / + 44 20 3757
Newgate Communications Tom Carnegie 6880
+44 20 3170
4C Communications Carina Corbett 7973
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Canaccord Genuity
(NOMAD and Joint Henry Fitzgerald-O'Connor / James +44 20 7523
Broker) Asensio 8000
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BMO Capital Markets Tom Rider / Michael Rechsteiner +44 20 7236
(Joint Broker) / Neil Elliot 1010
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Peel Hunt LLP +44 20 7418
(Joint Broker) Ross Allister / David McKeown 8900
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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
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