Atalaya Mining PLC on Monday said that Proyecto Touro has been declared a strategic industrial project by the Council of the Xunta de Galicia.

Proyecto Touro is a brownfield copper project in the northwest of Spain, for which Atalaya has a phased earn-in agreement for up to 80% ownership.

According to the Spain-focused producer of sustainable copper, strategic industrial project status helps to simplify the administrative procedures attached to the development of industrial projects.

Accordingly, this newly-afforded designation should help to substantially reduce permitting timelines.

‘We are very pleased to see that Proyecto Touro has been declared a strategic industrial project by the Xunta de Galicia. This declaration highlights the Xunta’s commitment to promoting new investment and fostering innovation. Atalaya has worked diligently in the optimisation of Proyecto Touro to design a modern and sustainable mining project,’ said Chief Executive Officer Alberto Lavandeira.

Shares in Atalaya Mining were trading 3.3% higher at 428.50 pence each in London on Monday afternoon.

Copyright 2024 Alliance News Ltd. All Rights Reserved.