ESG

"[We'll] make every…effort to make up for as much lost production as possible"

Atico lowers guidance as El Roble operations resume after strike

Staff reporter

This article is 6 years old. Images might not display.

It said yesterday it expected operations would reach "normal levels within the following hours" and had restarted exploration drilling.

It reduced its forecast production from 20-21 million pounds of copper to 17-18Mlb, and from 10,200-10,700 ounces of gold to 9,000-9,700oz.

It had achieved its highest annual production in 2018 of 21.87Mlb copper and 11,344oz.

"Throughout the remainder of the year, the company will make every operational effort to make up for as much lost production as possible," Atico said.

The strike began in February when negotiations over a collective agreement failed.

It had a significant impact on Atico's first quarter production, with copper and gold output down by 57% and 45% respectively on a year earlier.

Once the strike passed its 60th day on April 12, Atico had said Colombian law dictated a legal process to end it through arbitration.

Atico shares closed down 6.9% or C2c yesterday to 27c, close to its 52-week low reached in December, capitalising it at $26.6 million.

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

editions

Leadership Insights 2025

Leadership Insights reveals key trends in priority mining issues through interviews with 15+ top mining company executives and an industrywide survey.

editions

Mining IQ Risk Analytics

Risk Analytics offers interactive access to World Risk Insight data, allowing you to customise risk views, benchmark jurisdictions, explore data behind scores and read expert commentary to guide your decision-making.

editions

Project Pipeline Index 2025

View our 50 top mining projects, handpicked using a unique, objective selection process from an expanded database of 600+ global assets.

editions

Investor Sentiment Insights 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.