MATSA comprises the Aguas Teñidas, Magdalena and Sotiel underground mines supplying a central 4.7Mtpa flotation facility that produces copper, zinc and lead concentrates with silver by-product. The December 31, 2025 Mineral Resources are inclusive of Ore Reserves and use NSR cut-offs of US$45/t at Aguas Teñidas and the satellite projects, US$43/t at Magdalena and US$46/t at Sotiel. Resource price assumptions are Cu US$11,023/t, Zn US$3,250/t, Pb US$2,090/t and Ag US$45/oz; reserve assumptions are Cu US$9,921/t, Zn US$2,690/t, Pb US$1,984/t and Ag US$40/oz, with EUR/US$1.17. Mine-specific reserve cut-offs reflect development access and FY23-FY25 average costs, with updated Sotiel recovery curves. Approximately 1.6Mt of remnants beside historical workings is classified as Probable Reserve with 50% mining recovery for additional operational and geotechnical uncertainty; sterilisation assessments of remnant Measured and Indicated Resources are ongoing. IGT Stage A construction completion and commissioning are expected in H2 CY26. Approved progressive closure at the existing DPS tailings facility is expected to provide interim capacity through early CY27. IGT Stage B has environmental and mining permits, but creek relocation must be resolved before applying for its urban licence; Stage B is not required until 2029.
- Country
- Spain
- Commodity
- Cu
- Stage
- Production