Atalaya I

Project Description

Atalaya I: Black Granite, Aggregates, and Exploration

The Company owns an 85% interest in the Atalaya concession located in the Municipality of Albuquerque, Province of Badajoz, Autonomous Community of Extremadura, Spain. This exploitation concession was granted for a maximum term of 90 years. The Company also has a Favorable Environmental Impact Statement, as well as municipal permits and surface rights. The Atalaya concession has an extension of 7 mining grids (210 hectares).
Originally conceived as a single project for ornamental rock (black granite) and aggregates, recent studies revealed significant metal deposits, primarily titanium and rare earth elements in the form of ilmenite. As a result, the Company strategically divided the project into Atalaya I and Atalaya II to optimize resource exploitation.
Atalaya I project aerial view
Atalaya I project aerial view

Atalaya I: Black Granite and Aggregates

Atalaya I focuses on the extraction and processing of high-quality black granite and aggregates. The project is currently in the preproduction phase and is set to become a significant producer of both ornamental stone and construction materials.
Key features of Atalaya I include:
  1. Production Capacity: The mine will produce 80,000 m³ (240,800 tons) of black granite annually.
  1. Product Mix: 30-40% of the extracted black granite will be cut into blocks using diamond wire saws. The remaining 60-70% will be crushed to manufacture aggregates.
  1. Pricing: Black granite blocks are sold at approximately 800 euros (870 USD) per cubic meter. Aggregates are priced at around 12 euros (13 USD) per ton.
  1. Material Density: The black granite has a density of approximately 3 tons per m³.
The high value of the black granite blocks provides a significant advantage, allowing for economical transportation over longer distances and access to broader markets.

Atalaya II: Titanium & REE’s Exploration Project

Atalaya II represents an exciting exploration project focused on ilmenite, with substantial upside potential. This part of the concession is being investigated for its titanium and rare earth element content, which could significantly enhance the overall value of the Atalaya project.