SUSTAINABILITY
REPORT 2025
Table of Contents
Atalaya Mining Copper S.A. 2025 Sustainability Report
This Atalaya Mining Copper S.A. Sustainability Report, aimed at informing stakeholders of
performance and progress, forms part of the Company’s management report and was approved
by the Board of Directors on 18 March 2026. This Sustainability Report is independently verified
according to applicable regulations. More details on the methodology can be found here.
Introduction
Message from Atalaya Mining
Copper S.A. 6
2025 highlights 7
Atalaya at a glance
Atalaya at a glance 9
What we do 10
Our approach to
sustainability
Message from our Sustainability
Committee Chair 20
Our commitment to sustainability 21
Double materiality assessment
(DMA) 25
Stakeholder engagement 27
Corporate Governance
Our governance structure 31
Role of the Sustainability Committee 35
Board remuneration 36
Risk assessment and monitoring 37
Corporate policies and upholding
ethical conduct 38
Proyecto Riotinto – operating
policies 39
Management systems at sites 40
Our people
Our commitment to people 43
Health and safety across Atalaya 45
Talent attraction and development
at Atalaya 51
Diversity, equality and inclusion 54
Employee compensation and
benefits 59
Environment
Our environmental commitment 63
Water management 65
Energy and climate change 74
Circular economy and efficient
resources 82
Air quality and noise 84
Nature and biodiversity 86
Environmental restoration plan 88
Responsible mining waste and
tailings management 89
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Innovation 111
IT and cybersecurity 115
Financial performance
Annexes
Report Methodology 124
Sustainability data 127
GRI Index 137
Non-Financial Information Content
Index 145
GRI 2024 Mining Sector Standards 151
SASB Content Index 156
2
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
5
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Message from Atalaya
Mining Copper S.A
2025 highlights
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
5
ATALAYA MINING · SUSTAINABILITY REPORT
2025
Message from Atalaya Mining Copper S.A.
Dear stakeholders,
Our 2025 Sustainability Report sets
out a year of solid progress, with a
marked improvement in our energy
efficiency, an innovative project to
restore the post-mining landscape
and more accountability in how we
oversee our business.
Phase 1 of our solar power plant is
now fully complete and operational,
with phase 2 in construction and
due to come on stream in 2026,
and we hope to go yet further in
increasing efficiency and green
energy levels in the coming year.
Our team has overseen an
impressive initiative to restore
the natural landscape around a
legacy mining site at Ilmenitas,
exemplifying how our industry can
improve standards of environmental
care for future generations.
And our Board has been enhanced
by three new members who have
brought expertise, rigour and
perspective, driving us to be more
accountable. This has raised the
bar for compliance and oversight as
we advance towards sustainability
goals. I am particularly pleased
that with three women among us,
Kate Harcourt, Coriseo González-
Izquierdo and Carole Whittall,
female representation on the
Board has reached 37.5%. Given
the current Board size of eight
members, this is consistent with
the Company’s commitment to
achieving at least 40% female
representation, which in practice
equates to either 37.5% or 50%.
We are making steady progress
toward full alignment with the
Global Industry Standard on
Tailings Management, an important
step in strengthening safety and
oversight. To support the final
stages of implementation, we have
strengthened our internal capability
through the appointment of a
dedicated tailings specialist.
Looking to the future, we are
confident of continued demand for
copper driven by the global transition
to greener energy sources. As we
develop new approaches to build on
our expertise, we are becoming more
efficient and sustainable even as we
meet this growing demand.
We look forward to your feedback.
ALBERTO LAVANDEIRA ADÁN
Chief Executive Officer of
Atalaya Mining Copper S.A.
NEIL GREGSON
Chair of Atalaya
Mining Copper S.A.
18 March 2026
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ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Message from Atalaya
Mining Copper S.A
2025 highlights
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
In 2025, Atalaya reached the
following sustainability milestones:
Health and safety
4.80 total lost
time injury frequency
rate (LTIFR) for own
employees and
contractors vs 3.33 in
2024 vs 3.94 in 2023
2.65 LTIFR for own
employees vs 1.31 in 2024
vs 5.34 in 2023
LTIFR for employees
remains substantially
lower than in 2023,
reflecting the continued
strengthening of safety
practices
0 high consequence
LTIFR for own employees
and contractors
Energy
efficiency and
climate change
Electricity intensity
22.60 Kwh/t
ore processed (vs
22.66 in 2024)
99,292 tCO2e
Scope 1 & 2 (vs
105,076 in 2024)2
0.33 tCO2e
per Kt of annual
production in 2025
(vs 0.42 in 2024)
At the end of 2025
69.2% of the
solar plant’s total
capacity is fully
operational
Operational highlights
298,108 tonnes of
copper concentrate, 51,139
tonnes of copper contained
in concentrate and improved
copper grade of 0.39% (vs 252,165
tonnes of copper concentrate
produced in 2024 (46,227
tonnes of copper contained in
concentrate))
Record operational performance
at Proyecto Riotinto, with plant
throughput reaching
16.6 Mt (2024: 15.9 Mt)
Resource growth and mine
planning flexibility strengthened,
with increased mining rates
at San Dionisio and continued
infill and step-out drilling at San
Antonio and Masa Valverde
Future production pipeline
advanced, including plant
modification works to process
polymetallic ores, permitting
progress at Masa Valverde
and continued development
of Proyecto Touro under its
strategic industrial project
framework
Water efficiency
2.00 m
3
total
water used per tonne
ore processed (vs 1.95
m3 in 2024)
Of this total, just
0.24 m
3
of
freshwater per tonne
ore processed (vs 0.22
m3 in 2024)
Freshwater
withdrawal declined
37% since 20211
Local
communities
€812,000
investment in local
communities
68% of staff from
local area around
Proyecto Riotinto
Women in
workforce
23% women in
Atalaya workforce vs
21% in 2024
37.5% women on
Board of Directors vs
24% in 2024
Responsible
sourcing
96.63%
European
procurement (89.20%
Spanish procurement
vs 93% in 2024)
2025 highlights
1. Freshwater: water withdrawal from
surface water sources outside the
mining project.
2.Our 2025 carbon footprint is an
estimate using 2024 emission
factors as the data is not available
at the time of publication. Our 2025
report will have the confirmed 2024
carbon data.
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ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Message from Atalaya
Mining Copper S.A
2025 highlights
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Atalaya
at a glance
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ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a
glance
Atalaya at a glance
What we do
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
8
ATALAYA MINING · SUSTAINABILITY REPORT
2025
Atalaya at a glance
Atalaya Mining Copper (“Atalaya”,
formerly “Atalaya Mining plc”) is a
European copper producer whose
main operations are in ,
domiciled in Seville (Andalusia).
Atalaya’s shares trade on the London
Stock Exchange Main Market under
the symbol “ATYM”.
Our strategy is to evaluate and
prioritise metal production
opportunities throughout the well-
known belts of base and precious
metal mineralisation in Spain,
elsewhere in Europe and Latin
America.
Copper is an essential component
to producing, distributing and
storing energy, and demand is rising
sharply as the world transitions to a
low-carbon economy. As a copper
producer, we are continually seeking
ways to make our processes more
efficient and sustainable and to
increase our positive impact.
Our mission, vision and values
Main uses of copper
44%
Power Grid
20%
Construction
14%
Appliances
& Electronics
12%
Transport
10%
Other
Mission
Atalaya is focused on
delivering stability and
growth, while also protecting
and enhancing value for all of
its stakeholders.
Vision
Our objective is to grow
into a multi-asset producer,
with a focus on developing
sustainable, scalable and low-
risk operations.
Values
We are committed to
operating responsibly
and sustainably. Our core
principles include honesty,
accountability and working
with all stakeholders to
ensure complete alignment
with local communities and
the environment.
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ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a
glance
Atalaya at a glance
What we do
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
What we do
Prospecting/
Exploration
Prospecting and
analysis to identify ore
resources and reserves
Design of
mining project
Design and project
development to obtain
exploitation rights
(permitting phase)
Operation
Mining operations to extract ore.
Treatment to obtain copper concentrate or
metals (using E-Lix technology).
Sales and distribution of the copper
concentrate or metals.
Infrastructure
development
Construction of access to
the mine and operating
infrastructure
Closure of operations
Dismantling and site
preparation for final
land use and monitoring
of remaining mine
infrastructure
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ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a
glance
Atalaya at a glance
What we do
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Our ownership structure as of December 2025
Shares Held
% of Issued
share capital l
Urion Holdings (Malta) Ltd (Trafigura) 30,821,213 21.90
Cobas Asset Management SGIIC SA 17,163,837 12.19
Ithaki SAS 11,750,140 8.35
Muza Gestion de Activos SGIIC SA 4,157,723 2.95
Allianz Global Investors UK Ltd. 3,706,287 2.63
Top 5 Institutional Investors (31.12.25)
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ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a
glance
Atalaya at a glance
What we do
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Our portfolio of projects and growth opportunities
Our asset in
development phase
Our assets
in exploration phase
Our main asset
Proyecto Riotinto, in Minas
de Riotinto (Huelva, Spain) is
our flagship operating mine,
currently comprised of two
ore deposits: Cerro Colorado
and San Dionisio. The site also
houses copper concentrate ore
processing facilities (15 Mt/year),
as well as the E-LIX treatment
plant for copper/zinc metal
recovery.
Our goal is to extend the life
of our mines and increase
production while operating
more sustainably. San Dionisio
is a core part of this strategy
and in May 2025 we received
authorisation to expand mining
operations into this deposit.
Proyecto Masa Valverde in
Valverde del Camino (Huelva,
Spain) near Proyecto Riotinto,
is an underground mining
project. In 2023, the Company
was granted an authorisation
and exploitation permit and
further infill drilling is planned
for 2026.
Our other projects at
San
Antonio (close to the Cerro
Colorado pit) and
Riotinto
Este, near Riotinto in Huelva,
and
Ossa Morena in
Extremadura are in
exploration phase.
In addition, Atalaya has
expanded its exploration assets
outside Spain with a footprint
of exploration assets Project
Skellefte and Project Rockliden,
but in Norrland, Sweden.
Our asset in
permitting phase
Proyecto Touro in Galicia,
a brownfield site which has
been previously mined, is not
yet in commission as we await
exploitation permits. Touro
has the potential to increase
our copper output by 30,000
tonnes annually, according
to a preliminary economic
assessment. Declared a
strategic industrial project
by the Galician regional
government in 2024, we have
since completed and filed most
of the reports necessary for the
official environmental impact
report, which is still pending.
The public information period
concluded early in 2025 and
we have addressed most
of the comments from the
consultation. We continue local
activities such as treating river
water contaminated by former
mining near the legacy site,
preparing for future hiring and
technical studies, and drilling to
support further development.
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ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a
glance
Atalaya at a glance
What we do
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Portfolio
SPAIN
Estremadura
Galicia
Andalusia
Proyecto Touro
Permiting phase
Ossa Morena
Exploration phase
Proyecto Riotinto
Operating phase
Proyecto Masa Valverde
Development phase
Riotinto Este
Exploration phase
Skellefte Belt
& Rockliden
Exploration phase
Norrland
SWEDEN
Proyecto Riotinto
OPERATING PHASE
Location: Andalusia, Spain.
Ownership: Proyecto Riotinto is operated through Atalaya Riotinto Minera,
S.L.U. a fully owned entity established under Spanish jurisdiction.
2025 production: Copper concentrate.
Overview: Proyecto Riotinto is our main operation comprised of:
□ Cerro Colorado: A fully operational and conventional open pit, with
contractors handling excavation, drilling and blasting. It currently provides
the only source of copper ore at the Riotinto processing plant
□ San Dionisio deposit: Adjacent to the Cerro Colorado pit, this deposit has
been exploited in the past. It contains two types of mineralisation-copper
stockwork and polymetallic massive sulphides. Atalaya has applied for
permits to process the San Dionisio ore, an undertaking which continues to
advance
□ San Antonio deposit: Adjacent to the Cerro Colorado pit
Processing plant: 15 Mt/year for obtaining copper concentrate. During
FY2025, plant throughput reached a new annual record of 16.6 million tonnes.
Proyecto Riotinto
production 2025 2024 2023 2022 2021
Copper concentrate
(tonnes) 298,108 252,164 249,321 249,543 270.713
Copper contained in
concentrate (tonnes) 51,139 46,227 51,667 52,269 56.097
Andalusia
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ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a
glance
Atalaya at a glance
What we do
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Proyecto Masa Valverde
DEVELOPMENT PHASE
Location: Andalusia, Spain.
Ownership: The mining rights are owned
by Atalaya Masa Valverde, S.L.U. a fully owned
subsidiary of Atalaya.
Metal: Copper
Overview: Proyecto Masa Valverde is a
volcanogenic massive sulphide project located
in the Riotinto District, comprised of the Masa
Valverde and Majadales deposits. The project is
planned as an underground mining operation.
An exploitation permit was granted in
2023. To date, infill and extensional drilling
programmes continue, with further drilling
planned during 2026. The focus remains on
stockwork-style mineralisation expected to be
processed at the existing Riotinto facilities.
Development of the underground access
ramp is set to start once the imminent
acquisition of certain surface rights is
completed, subject to final Board approval.
Andalusia
Proyecto Touro
PERMITTING PHASE
Location: Galicia, Spain.
Ownership: In 2017, Atalaya signed a
phased, earn-in agreement for up to 80%
ownership of Proyecto Touro, a brownfield
copper project in northwest Spain. The
mining rights are owned by Cobre San
Rafael, S.L.
Overview: Proyecto Touro is designed to
be a benchmark in sustainable mining in
Europe, with copper production expected to
average approximately 30 kt/pa over a mine
life of around 12 years.
In 2024, Touro was declared a strategic
industrial project, enabling access to a
simplified and fast-tracked permitting
process. The public information period closed
on 31 January 2025 and Atalaya has addressed
the majority of comments received with most
sectoral reports now completed and only a
limited number still pending.
Looking ahead to 2026, Atalaya plans to
progress engineering design, cost estimation
and drilling activities while continuing
stakeholder engagement, operating the
water treatment plant to improve local river
quality and strengthening recruitment in
preparation for potential future development.
Galicia
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ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a
glance
Atalaya at a glance
What we do
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Riotinto East
EXPLORATION
PHASE
Location: Andalusia, Spain.
Overview: Proyecto Riotinto East comprises the
Cerro Negro and Peñas Blancas investigation
permits, located immediately east of the existing
Riotinto mining complex. Following geophysical
and geochemical surveys, drilling is expected
to start at both during the first quarter of 2026,
subject to final administrative approvals.
Andalusia
Skellefte Belt & Rockliden
EXPLORATION PHASE
Location: Norrland, Sweden.
In November 2024 Atalaya made
two binding agreements with Mineral
Prospektering i Sverige AB (“MPS”), under
which the Company can take an initial
75% interest in two separate Swedish land
packages.
Overview: These are the Skellefte Belt
land package and the Rockliden land
package, two districts that host many
large-scale deposits and mines containing
volcanogenic massive sulphide -a type
of mineral deposit formed by volcanic
and hydrothermal processes- owned by
Boliden AB and including the operating
Kristineberg and Renström mines. Both
regions are underexplored and this deal
could therefore boost Atalaya’s exposure
to critical minerals in Europe.
Exploration activities are expected
to continue in 2026, including winter
drilling programmes, follow-up drilling
at previously identified targets and
additional ground-based electromagnetic
surveys to refine targets identified by the
VTEM airborne survey. Further drilling
is planned as permitting and seasonal
conditions allow.
Sweden
Ossa Morena
EXPLORATION PHASE
Location: Extremadura, Spain.
Ownership: Proyecto Ossa Morena is managed by Atalaya Ossa Morena, S.L., in
which Atalaya holds a 99.9% interest.
Overview: Proyecto Ossa Morena comprises a portfolio of exploration and
investigation permits located along the Ossa Morena Metallogenic Belt, targeting
copper and gold mineralisation. At the date of this report, drilling is expected to
begin at the Guijarro-Chaparral gold-copper project during the first quarter of
2026, subject to final permitting and operational readiness.
Estremadura
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ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a
glance
Atalaya at a glance
What we do
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
The Riotinto District
sits at the heart of the
Iberian Pyrite Belt,
one of the world’s
most important
mining regions with
more than 5,000 years
of mining history.
This legacy includes old waste rock
dumps containing sulphide-rich
materials that can generate Acid
Rock Drainage (ARD), that is, highly
acidic water with elevated metal
concentrations that can damage
soils, rivers and ecosystems.
One of the most significant legacy
areas was the Ilmenitas waste rock
dump, near the historic Corta Atalaya
pit and beneath the “Pista de la
Concordia” haul road.
Over time, rainfall interacting with
ilmenite and pyrite-rich waste
created highly acidic runoff and
monitoring in the surrounding
watershed showed low pH values
and high metal concentrations.
Quick and targeted measures
were needed to rehabilitate and
strengthen the natural surroundings.
In response we undertook a major
restoration project, among the most
innovative mine rehabilitation efforts
in Europe.
Spotlight: Back to Nature-A Model for Post-Mining Restoration
Our ambition is not just to stop
acidic water forming at Ilmenitas
but to enable a self-sustaining
ecosystem to develop on a newly
stable landform by planting native
vegetation. Our project regenerates
the land as naturally as possible
having eliminated the potential for
further ARD production.
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ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a
glance
Atalaya at a glance
What we do
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Started in 2022 and targeted for
completion in 2026, our project will
help create a healthy habitat and
improve the quality of nearby surface
water. In time, this will support safer
long-term land use, demonstrating
that we as a society can transform
historical environmental challenges
into lasting environmental benefits.
To do this, Atalaya’s team drew
up a tailor-made restoration
project, designed by Restauracion
Geomorfológica
®
, an initiative created
and directed by José F. Martín Duque
and implemented by a group of
specialists headed by Emilio Sanjuán
López-Cózar.
1. We stripped more than
150,000 m³ of waste materials,
transporting them safely to
the authorised tailings facility.
2. We sealed the remaining
deposit with low-permeability
slate to prevent water
seepage.
3. We then reshaped the
restored landform with
Geomorphic Landform Design
(GLD), a technique that
recreates natural terrain so it
looks and functions like the
surrounding environment.
GLD improves long-term
stability, controls erosion and
restores natural drainage
patterns.
4. We introduced open
limestone channels to guide
runoff and naturally reduce
acidity.
We then seeded and replanted
vegetation to assist soil
stabilisation and support
recovery.
It comprised four key phases:
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ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a
glance
Atalaya at a glance
What we do
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
The application of this kind of technology is
very limited internationally to date, particularly
within the field of metal mining. Within this
context, Ilmenitas sets a benchmark: the first
geomorphic mine rehabilitation project in
Andalusia, the first implemented in a copper-
mining environment in Europe and one of
the few examples worldwide to integrate this
methodology within a mining development
which includes road infrastructure.
Atalaya has a proactive approach to mine
closure and rehabilitation by implementing
science-based restoration projects, long-term
environmental monitoring and legacy-site
remediation programmes.
These initiatives, including the Ilmenitas
restoration project and ongoing
rehabilitation of historically impacted areas,
demonstrate our commitment to restoring
land, protecting water resources and
ensuring stable post-mining ecosystems
aligned with international best practice.
A unique feature of this project is
the integration of regional road
infrastructure into the landscape,
making Ilmenitas the first built
geomorphic restoration in Europe
within a copper mine which
incorporates a road embankment.
GLD also improved the safety factor of
the embankments (which measures
their stability in technical terms) by
30–50%.
Early monitoring shows a reduction in
conductivity, sulphate levels and metal
concentrations in drainage waters, all
of which show that the restoration
work is helping to rebalance the
local ecosystem as intended and
improving the quality of the water.
The way ahead
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ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a
glance
Atalaya at a glance
What we do
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Our approach
to sustainability
19
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Message from
our Sustainability
Committee Chair
Our commitment
to sustainability
Double materiality
assessment (DMA)
Stakeholder engagement
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
19
Message from our Sustainability Committee Chair
Dear stakeholders,
2025 has been a decisive year for our
sustainability journey. We submitted
our first disclosure to CDP’s climate
change questionnaire, allowing
us to identify climate-related risks,
improve operational efficiency and
prepare for tightening environmental
regulations. This in turn will establish
a baseline for further improvements
in environmental performance
and build trust with investors and
stakeholders through transparency.
We also completed our inaugural
double materiality assessment,
giving us a clearer understanding of
how environmental and social issues
affect our business and the views of
our stakeholders.
We continued to strengthen
governance, including improving
gender diversity on our Board, and
we enhanced oversight through the
Sustainability Committee, ensuring
our approach is practical, integrated
and aligned with strategic planning
and decision-making.
On the operational side, we
implemented an ISO 50001 energy
management system, reinforcing
our commitment to efficient energy
use and limiting our environmental
footprint. We also published our
first public disclosure under the
Global Industry Standard on Tailings
Management (GISTM) found here,
demonstrating our focus on safety,
transparency and best practice.
KATE HARCOURT
Chair of Atalaya
Sustainability Committee
18 March 2026
These steps have paved the way to
a more resilient, responsible and
forward-looking business. We remain
committed to creating positive
outcomes for our communities, the
environment and all stakeholders,
and we welcome your feedback as
we continue our endeavours.
20
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Message from
our Sustainability
Committee Chair
Our commitment
to sustainability
Double materiality
assessment (DMA)
Stakeholder engagement
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Our commitment to sustainability
For Atalaya,
responsible and
sustainable mining
means protecting
the environment,
supporting the
wellbeing of our
workforce and
surrounding
communities,
and maintaining
governance systems
that reinforce these
priorities.
Together, this drives long-term
financial performance, anchored in
the Ten Principles of the UN Global
Compact which we have aligned with
since 2021.
Our Board-approved Sustainability
Policy reinforces this commitment.
It addresses occupational health
and safety, risk management,
environmental and social
responsibility and corporate
governance, while also setting
expectations for transparency, value-
chain oversight and continuous
improvement.
We have been guided by Environmental, Social and
Governance (ESG) practices since starting activity in 2015
and Proyecto Riotinto is a case in point, having been a
source of prosperity and sustainable development for
the surrounding area.
For the past few years, we have been following a
roadmap to track progress on sustainability and changes
in the legal frameworks under which we operate in
Spain and in the European Union, as well as those
applicable from being listed in the LSE Main Market.
Our sustainability progress
21
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Message from
our Sustainability
Committee Chair
Our commitment
to sustainability
Double materiality
assessment (DMA)
Stakeholder engagement
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Sustainability initiatives
In 2025 we undertook the following
initiatives to strengthen our resilience:
In 2025 we achieved an ISO 50001
energy efficiency certification,
allowing us to manage and
reduce energy use for a better
operating performance, as well
as demonstrating a coherent
commitment to sustainability.
1. We completed a double
materiality assessment,
allowing us to identify
and prioritise issues that
impact the business as
well as understand our
impact on society and the
environment.
2. We responded to the
CDP (formerly Carbon
Disclosure Project)
questionnaire for the
first time, giving us a
framework to measure,
disclose and benchmark
our environmental
performance. This will help
improve transparency,
manage climate-related
risks and underpin our
credibility as a listed
company.
22
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Message from
our Sustainability
Committee Chair
Our commitment
to sustainability
Double materiality
assessment (DMA)
Stakeholder engagement
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Overview of 2025 sustainability progress
Pillar Topic area Commitment Status What’s next in 2026
Good governance
Ensure a system of good
corporate governance by
acting in a manner consistent
with values and policies, to
achieve positive impact for all
our stakeholders
Sustainable
corporate
governance
Implement robust corporate
governance by integrating
sustainability principles into
governance and policies
Achieved
❚ Sustainability objectives associated with Board: remuneration
❚ Corporate Policies: Modern Slavery statement to be revised in 2025
❚ New corporate policy: Responsible Tailings Management Policy in
accordance to GISTM
❚ New operational policy at Proyecto Riotinto: Energy efficiency
CSRD regulations
Align with CSRD regulations
by carrying out a double
materiality assessment
and adjusting reporting
methodology
On hold while
applicability
of revised
regulations is
determined
❚ CSRD ruled by EU and currently pending to be transposed to Spain
❚ Double materiality assessment completed in June 2025
Female
representation
at Board level
Improve female
representation at Board level
Achieved ❚ New Board member named, Board now 37.5% women
Stakeholder
communication
strategy
MSCI and Sustainalytics
selected for ESG rating
First gap concluded in 2023
On hold while
applicability
of revised
regulations is
determined
❚ Consultation process as part of double materiality assessment
initiated in 2024
People
Promote quality employment,
providing personal and
professional development
and contributing to inclusive,
sustainable economic growth
Diverse, equal and
inclusive workplace
Implement of the equality
plan
In progress
❚ Continue to implement measures set out in the equality plan
❚ Continue training for harassment prevention
Safe operations
Prioritise continual
improvements in operational
safety, for with a zero-harm end
goal
Global Industry
Standard on Tailings
Management
(GISTM)
Align with GISTM over three
years (by end 2026)
In progress
❚ Responsible Tailings Management Policy
❚ Align Tailings Storage Facility (TSF) governance with GISTM
❚ Align our TSF monitoring documents and inspections with GISTM
❚ GISTM public disclosure for Proyecto Touro
Minerva and Stone
projects (digital
safety monitoring
systems)
Continue development and
implementation of Minerva
and Stone projects
In progress
❚ Minerva is an ongoing project. In 2025 new algorithms were
researched to improve structural health of our facilities
23
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Message from
our Sustainability
Committee Chair
Our commitment
to sustainability
Double materiality
assessment (DMA)
Stakeholder engagement
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Pillar Topic area Commitment Status What’s next in 2026
Environment
and climate change
We aim for positive environmental impact
by improving operations and making
climate change a central tenet of our long-
term strategy
Climate change
Energy efficiency
management
Obtain and implement ISO
50001 certification
Achieved
❚ Maintain ISO 50001 certification
❚ Monitor energy consumption and efficiency measures following
installation of the solar plant
❚ Quantify emission reductions driven by energy efficiency measures
Climate change
Increase renewable energy
consumption
In progress
❚ Solar plant phase 1 is in full operation
❚ Solar plant phase 2 in construction and to become operational
Climate change
Reduce carbon footprint
emissions
In progress
❚ 25% reduction in carbon footprint (Scope 1 & 2) by 2027
vs 2022 base year
Climate change
Increase climate emissions
transparency following
TCFD recommendations
Achieved
❚ Transition to comply with IFRS S2
❚ Participation in CDP (formerly Carbon Disclosure Project) initiative:
climate change disclosure from April to September 2025
Water
management
Water efficiency Achieved
❚ Freshwater consumption monitoring
❚ Participation in CDP initiative: water disclosure from April to
September 2025
Society
Contribute to local and regional
economic development by improving
environmental living conditions from a
social responsibility perspective
Community
engagement and
cultural heritage
Consolidate Atalaya’s
position as a respected
name in tourism and
industrial heritage
In progress
❚ Social activity monitoring through Atalaya Riotinto Foundation and
Touro initiatives
Local sourcing
Establish domestic
procurement programme
In progress
❚ Adopt a complementary due diligence procedure on business
partners
❚ Supplier performance monitoring
Innovation
and technology
Encourage innovation through research and
development of sustainable technologies and
circular economy processes, via alliances and
collaboration with other stakeholders
Innovation
and technology
Establish a solution for
digitisation of sustainability
management
First phase
completed
❚ Began the development and deployment of a data lake, producing
the first basic sustainability data reports
24
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Message from
our Sustainability
Committee Chair
Our commitment
to sustainability
Double materiality
assessment (DMA)
Stakeholder engagement
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Double materiality assessment (DMA)
The Spanish government is in the
process of transposing the Corporate
Sustainability Reporting Directive
(CSRD) into national legislation.
Atalaya was originally expected to
fall within the CSRD Scope; however,
following the amendments introduced
under the EU Stop-the-Clock Directive
(2025/794/EU), adopted in April 2025,
As part of our DMA we conducted a five-step process aligned with the European Sustainability Reporting Standards (ESRS), detailed below:
Phase
Understanding
Definition of the
value chain, sector
trend study and
benchmarking of peer
companies selected,
based on size, location
and commodity.
Sustainability issues
were mapped against
leading international
frameworks and
standards.
Relevant topics
and subtopics were
determined.
Phase
Identification
For each topic, the
related impacts, risks
and opportunities
(IROs) were identified,
providing a detailed
breakdown and
defining their Scope,
including qualitative
and quantitative
information where
possible, to support
evaluation based on
objective criteria.
Phase
Assessment
We assessed each IRO using a
structured, semi-quantitative
approach that considered
factors such as severity,
likelihood, scale and Scope.
The process involved input
from relevant operational
teams and was coordinated by
the Sustainability Department.
Our scoring methodology
aligns with CSRD criteria,
non-financial assurance
requirements and Atalaya’s
internal risk frameworks to
ensure a consistent and robust
evaluation of IROs across the
organisation.
Phase
Engagement
We gathered stakeholder perspectives
using multiple methods, including
sustainability ratings reviews, public
consultation feedback, community
perception and employee climate surveys
and direct interviews with associations,
suppliers and environmental authorities.
This allowed us to capture insights
from key stakeholder groups such as
employees, local communities, investors,
regulators and supply chain partners.
The information collected was then
used to update and refine our impact
assessment, helping to validate the
results and adjust impacts that had not
previously been identified as material.
Phase
Assessment
The outcomes of the
IRO assessment were
consolidated into a
double materiality
matrix, which groups
IROs into their
corresponding CSRD
topics. Each topic was
assigned the highest
materiality score of
the IROs it contains,
ensuring that the
matrix reflects the
most significant
impacts and financial
risks within each area.
1 2 3 4 5
the application of the CSRD has been
postponed by two years for second-
and third-wave companies, including
Atalaya (wave two).
Despite this, we proceeded
with our DMA to reach a robust
understanding of our most
significant environmental, social and
governance risks and opportunities
and to support the integration of
evolving reporting requirements
into our longer-term strategy.
Subsequent to the reporting date
31 December 2025, the European
Parliament approved Directive (EU)
2026/470, which forms part of the
Sustainability Omnibus Package and
amends, published in the Official
Journal of the European Union on
26 February 2026. Atalaya continues
to monitor the transposition of (EU)
2026/470 in the Kingdom of Spain
and related regulatory developments
to ensure future compliance as
requirements are finalised and
implemented.
25
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Message from
our Sustainability
Committee Chair
Our commitment
to sustainability
Double materiality
assessment (DMA)
Stakeholder engagement
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Below is an overview of our double materiality assessment matrix for 2025 and the topics that emerged as most material.
Topics Reporting Scope Double materiality heat map
Double Materiality Assessment Matrix
* Include the subtopic: “Information related impacts for consumers and or end-users” green transition products
** Include the subtopics: Working conditions “own workers” and “value chain workers”
1
Climate change, mitigation
and adaptation
2
Energy (Dependency, Efficiency,
and Responsible Consumption)
3
Pollution of water-soil (Critical
infrastructure risk management)
4
Pollution of Air (Monitoring
and mitigation of impacts
on air quality)
5
Water (Dependency, Uses,
and Impacts)
6
Direct impact drivers on
biodiversity loss (Impacts on
and Conservation of Protected
Species)
7
Resource outflows related to
products and services
(Green transition products/
enabling or transitional activities)*
8
Waste (Responsible waste
and tailing management)
9
Working conditions (Safety,
emergency preparedness
and occupational health)**
10
Equal treatment and
opportunities for all own
workers (Talent attraction,
employee retention and
development – Diversity
and inclusion)
11
Communities, economic,
social and cultural rights
(Action on social, Community
engagement and impact)
12
Data protection, privacy
and cybersecurity
13
Governance (Corruption
and bribery)
Impact materiality
Financial materiality
13
12
10
8112
4
3
791
65
LOWEST
HIGHEST
MEDIUM
26
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Message from
our Sustainability
Committee Chair
Our commitment
to sustainability
Double materiality
assessment (DMA)
Stakeholder engagement
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Stakeholder engagement
As clearly set out in our Sustainability
Policy, identifying and understanding
the concerns of groups that
influence or are impacted by our
mining activity is a clear priority.
We maintain clear communication
channels with stakeholders on
important issues, supported by
a procedure that guides how we
share information internally and
externally on legal requirements,
authorisations, special events and
more. This is part of our integrated
management system, certified under
ISO 9001, 14001, 50001 and 45001.
Our communications manager
leads internal communication,
coordinating across departments
and tracking changes in stakeholder
expectations, environmental matters
and safety issues.
The general manager ensures
staff and contractors are regularly
updated on our goals and
performance, particularly regarding
customer needs, environmental
responsibilities and health and
safety, following senior management
reviews and audits.
Externally, we manage requests for
information, suggestions, complaints
and inquiries from public agencies.
Our aim is to respond promptly and
responsibly, ensuring stakeholders
receive accurate and relevant
information.
Engaging with our stakeholders
This table shows current stakeholder and communication channels,
subject to modification following the results of the DMA.
Stakeholders Communication Channels
All employees
(Atalaya and
contractors)
• Company Intranet
• Internal TV screens
• Social media and WhatsApp channel
• Newsletters
• Email
• Meetings and events
Local
community
• Newsletter
• Sustainability Report
• Briefings and events
• Social networks and WhatsApp channel
• Media
• Website
• E-mail
• Integrated management system
• Riotinto Foundation activities, communicated through
the same channels
• Open days
Investors
• Annual Report
• Sustainability Report
• Releases area in the website
• Investor relations contact
• News releases
• Disclosure to relevant stock markets of all material
information
• Investor presentations, roadshows, and conference calls
• Company annual general meetings
• Attendance at conference
• One-on-one meetings
• Media
Addressing stakeholder expectations
27
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Message from
our Sustainability
Committee Chair
Our commitment
to sustainability
Double materiality
assessment (DMA)
Stakeholder engagement
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Stakeholders Communication Channels
Customers
• Procedure for product commercialisation
• Quality indicators
• Environmental indicators
• Communications procedure
• Customer satisfaction survey
• Annual activity report
• Commercial analysis of market trends
• Management of administration area
Public
administration
• Submission of projects and reports (compliance with
legal requirements), publications, site visits, etc.
• Direct site visits
• Management systems
Suppliers and
contractors
• Purchasing management and supplier evaluation
policies and procedures
• E-mail communications
• Face-to-face coordination meetings
NGOs and local
associations
• Voluntary and regulatory sharing of environmental
reports and assessments, through administrative files
• Sustainability Reports
• Media and communications
• Website and social media
• Newsletter
• Publications
• Visits
• Collaborations through Atalaya Foundation
Industry bodies
• Participation in the mining industry association
(AMINER)
• Participation in the Metallic Mining Hall (Industry’s top
event)
Stakeholders Communication Channels
Universities
• Meetings, presentations and events
• Cooperation research agreements
• Publications
• Technical visits
Research
centres
• Meetings, presentations and events
• Cooperation agreements
Society
• Newsletter
• Sustainability Report
• Briefings and events
• Social media and WhatsApp channel
• Media
• Website
• E-mail
• Atalaya Foundation activities communicated through
the same channels
Trade unions
• Meetings
28
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Message from
our Sustainability
Committee Chair
Our commitment
to sustainability
Double materiality
assessment (DMA)
Stakeholder engagement
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Corporate Governance
29
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate
Governance
Our governance structure
Role of the Sustainability
Committee
Board remuneration
Risk assessment
and monitoring
Corporate policies
and upholding
ethical conduct
Proyecto Riotinto –
operating policies
Management
systems at sites
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
29
ATALAYA MINING · SUSTAINABILITY REPORT
2025
With the aim of
building stakeholder
trust, our governance
structure is clear and
transparent with high
standards of integrity
and accountability.
This ensures our
business can thrive in
the long term.
Our leaders, employees and partners
apply rigorous ethical policies to
strengthen confidence and credibility
in all that we do. The oversight of our
processes is essential to success.
To guide us, we follow recognised
frameworks, including the UK
Corporate Governance Code (UKCGC)
and provide clear, detailed reporting
on our performance through our
Annual Report and website.
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate
Governance
Our governance structure
Role of the Sustainability
Committee
Board remuneration
Risk assessment
and monitoring
Corporate policies
and upholding
ethical conduct
Proyecto Riotinto –
operating policies
Management
systems at sites
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
30
With final
accountability for
success, our Board
balances authority
and oversight in
decision-making.
It decides strategy,
evaluates risks
and supervises
internal controls
and adherence
to regulatory
requirements.
Open, continuous dialogue
between the Board and the CEO
helps supervision and planning on
environmental, social, operational
and financial issues.
In 2025 we welcomed Hennie Faul to
our Board, replacing Hussein Barma
after his retirement, and Maria
del Coriseo (“Coriseo”) González-
Izquierdo Revilla as independent
Non-Executive Directors. In early
2026 Dr. Michael (“Mike”) Graham
Armitage became an independent
Non-Executive Director, replacing
Stephen Scott. Our Board is now
made up of one Executive Director
and seven Non-Executive Directors,
including three women (see below).
Our governance structure
In January 2026 Mike Armitage
became an independent Non-
Executive Director, replacing
Stephen Scott who stepped down
at the end of December 2025.
Our Board continues to be made
up of one Executive Director
and seven Non-Executive
Directors, with a strong majority
of independent representatives
and three women. Female
representation on the Board has
been 37.5% since 2025 versus 14%
in 2023, approaching the UKCGC
requirement of around 40%
women on boards.
Board updates
31
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate
Governance
Our governance structure
Role of the Sustainability
Committee
Board remuneration
Risk assessment
and monitoring
Corporate policies
and upholding
ethical conduct
Proyecto Riotinto –
operating policies
Management
systems at sites
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Current Board members and structure
NEIL GREGSON
Role: Non-executive Chair
of the Board and the
Nomination and Governance
Committee
Position: Independent
Active since: Feb. 2021
Neil has over 30 years’ experience investing
in mining and oil and gas companies. From
2010 to 2020 he was a managing Director at
J.P. Morgan Asset Management. Prior to that,
he was head of emerging markets and related
sector funds (including natural resource
funds) at Credit Suisse Asset Management.
Previously he held several roles at mining
companies, including as a mining analyst at
Gold Fields of South Africa.
ALBERTO LAVANDEIRA
Role: Managing Director
and Chief Executive Officer
Position:
Non-Independent
Active since: May 2014
Alberto has over 40 years of experience
operating and developing mining projects.
He was previously President, CEO and COO
of Río Narcea Gold Mines which built three
mines including Aguablanca and El Vallés-
Boinas in Spain and Tasiast in Mauritania.
He was also involved in the key stages of
development of the Mutanda mine in the
Democratic Republic of Congo. Earlier in
his career, Mr. Lavandeira worked within
group companies of Anglo American, Río
Tinto and Cominco (now Teck).
JESÚS FERNÁNDEZ
Role: Non-Executive Director
Position:
Non-independent
Active since: June 2015
Jesus joined Trafigura in 2004 and has
extensive experience in mergers and
acquisitions as well as providing financing
solutions to mining companies. He
established the group’s mining investment
arm in 2005 and rose to head of Mergers
and Acquisitions (M&A) and was a
management committee member, leaving
the Group in 2024.
Prior to that, he worked in the project
finance team at International Power plc in
London.
MIKE ARMITAGE
Role: Non-Executive Director
Position: Independent
Active since: January 2026
With four decades’ experience in the
mining industry, Mike spent his early
career as a geologist in South Africa,
joining SRK Consulting in 1991 where
he held varied roles, including resource
estimates and feasibility and due diligence
studies. He has headed SRK’s UK practice
as well as SRK’s Russia and Kazakhstan
practices and SRK Exploration. He also
spent six years as Chairman of SRK Global.
Mike is also managing Director of the
Welsh gold exploration company, Sarn
Helen Gold Ltd.
KATE HARCOURT
Role: Senior Independent
Director and Chair of the
Sustainability Committee
Position: Independent
Active since: May 2022
Kate has extensive experience as an
independent sustainability consultant,
including ESG Officer and ESG Adviser, at
a range of UK-linked mining companies,
including Cornish Lithium and Adriatic
Metals, and has participated in several due
diligence projects for mining assets as part
of a multidisciplinary team. Prior to 2010, she
was Director of Health, Safety, Environment,
Communities and Security at Mag Industries,
Senior Environmental Scientist at Golder
Associates (UK) Ltd, Senior Environmental
Scientist at Wardell Armstrong and
Environmental Scientist at SRK (UK) Ltd.
CAROLE WHITTALL
Role: Non-Executive Director
Chair of the Audit Committee
Position: Independent
Active since: June 2024
Carole is a senior executive with over 25
years of experience in the natural resources
sector across a broad range of functions
including management, finance and M&A.
She was Vice President, Head of M&A at
ArcelorMittal Mining and a member of
its mining executive team, responsible
for global M&A, government relations
and corporate and social responsibility.
Previously she was at Río Tinto where
she held several senior commercial and
business development roles. Her prior
experience was with JP Morgan.
HENNIE FAUL
Role: Non-Executive Director
and Chair of the Physical Risk
Committee
Position: Independent
Active since: June 2025
Hennie has over 30 years’ international
experience as a qualified mining
engineer and senior manager. He has led
operational, project and ESG functions
across five continents, covering many
mine categories and processes. He joined
Anglo American in 2004, holding senior
engineering roles and later becoming group
head of mining. From August 2013 to July
2019 Hennie was CEO of Anglo American’s
copper business, with responsibility for
operations in Chile and Peru.
CORISEO
GONZÁLEZ-IZQUIERDO
Role: Non-Executive
Director and Chair of the
Remuneration Committee
Position: Independent
Active since: January 2025
Coriseo was Chief Executive Officer of ICEX
– Spain’s trade and investment agency
-and has held a number of economic and
commercial executive roles in Spain, Japan,
West Africa, U.S.A., the Middle East, and
China. She has also served as a Director
on the boards of Instituto de Crédito (the
Spanish government’s financial agency),
CESCE (Spanish export credit agency),
CDTI (Spanish agency for technology
development) and HUNOSA (coal mining).
32
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate
Governance
Our governance structure
Role of the Sustainability
Committee
Board remuneration
Risk assessment
and monitoring
Corporate policies
and upholding
ethical conduct
Proyecto Riotinto –
operating policies
Management
systems at sites
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Five committees help the Board carry
out its duties and each chair reports
back to the Board after every meeting.
The Sustainability Committee, for
example, guides and monitors ESG
initiatives, including climate-related
risks, health and safety, environmental
management and stakeholder
engagement, ensuring industry best
practices are followed. We also have
a Physical Risk Committee, which
assists the Board with oversight on
specific technical, safety and health
matters, with a particular focus
on mining operations and tailings
management.
The Audit Committee, and
Remuneration Committee,
Nomination and Governance
Committee each has formal terms
of reference and is chaired by an
independent Non-Executive Director.
For operating sites such as Proyecto
Riotinto, the general manager reports
directly to the CEO and is responsible
for the day-to-day management of
operations, including health and
safety performance, environmental
compliance, operational risk
management, workforce matters and
engagement with local stakeholders.
He is supported by specialist
departmental managers covering
areas such as operations, processing,
maintenance, environment, health
and safety and human resources.
Remaining projects are under the
guidance of project managers who
report directly to the CEO, who has
final oversight.
Proyecto Riotinto has its own
governance code and, as the Company
grows and our mining operations
expand, the same code will be applied
across the entire G roup.
Audit Committee
(AC)
Primary responsibility:
□ Review and monitor
financial statements
□ Review public disclosure
of financial information
□ Oversee auditor
arrangements and
performance
□ Review internal and
external risks
Directors:
□ Carole Whittall (Chair)
□ Mike Armitage
□ Hennie Faul
Nomination and
Governance
Committee (NGC)
Primary responsibility:
□ Succession planning
of the Board and
management
□ Lead the process for
Board appointments
Directors:
□ Neil Gregson (Chair)
□ Kate Harcourt
□ Coriseo González-
Izquierdo
Physical Risk
Committee (PRC)
Primary responsibility:
□ Oversee safety, health,
environment and
security matters
□ Oversee enterprise-
wide physical risk
management
□ Review legal and
regulatory compliance
relating to health, safety
and the environment
Directors:
□ Hennie Faul (Chair)
□ Neil Gregson
□ Mike Armitage
Remuneration
Committee (RC)
Primary responsibility:
□ Review director
compensation and
performance
□ Review compensation
and performance of
officers
Directors:
□ Coriseo González-
Izquierdo (Chair)
□ Kate Harcourt
□ Hennie Faul
□ Neil Gregson
Sustainability
Committee (SC)
Primary responsibility:
□ Oversee strategy and
activities related to
sustainable development
and social responsibility
□ Develop and review
sustainability policies,
programmes, practices,
targets and initiatives
Directors:
□ Kate Harcourt (Chair)
□ Coriseo González-
Izquierdo
□ Carole Whittall
Board of Directors
33
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate
Governance
Our governance structure
Role of the Sustainability
Committee
Board remuneration
Risk assessment
and monitoring
Corporate policies
and upholding
ethical conduct
Proyecto Riotinto –
operating policies
Management
systems at sites
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
The Board is supported
by an experienced senior
management team that runs
daily operations and delivers
strategy. Led by the CEO, the
team oversees operations,
finance, sustainability, health
and safety, technical services,
exploration and project
development.
At Proyecto Riotinto, the
general manager reports to
the CEO and is responsible for
safe, efficient and sustainable
operations across production,
environmental management,
health and safety, regulatory
compliance and local
stakeholder engagement,
supported by specialist
managers.
In July 2025, Fernando Araúz de
Robles Villalón was appointed
as COO for Proyecto Riotinto,
succeeding Enrique Delgado,
who was previously general
manager. Fernando now
leads all activities of Proyecto
Riotinto. He is a mining
engineer with more than 20
years’ experience and has also
held senior public sector roles
in Andalusia.
Enrique Delgado now serves as
corporate institutional advisor,
supporting strategic projects,
institutional relations and social
responsibility work through
Atalaya’s Foundation.
Other projects are managed
by dedicated project managers
reporting to the CEO. As of
January 2025, Fernando Díaz
Riopa has been appointed COO
for Proyecto Touro. With over
30 years’ mining experience,
he now leads operations and
development at Touro.
This structure ensures clear
accountability and consistent
standards across the Group.
Senior management
FERNANDO ARAÚZ
DE ROBLES
General Manager
Proyecto Riotinto
ALBERTO LAVANDEIRA
Chief Executive Officer
CÉSAR SÁNCHEZ
Chief Financial Officer
FERNANDO DÍAZ
RIOPA
General Manager
Proyecto Touro
34
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate
Governance
Our governance structure
Role of the Sustainability
Committee
Board remuneration
Risk assessment
and monitoring
Corporate policies
and upholding
ethical conduct
Proyecto Riotinto –
operating policies
Management
systems at sites
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Role of the Sustainability Committee
Environmental
sustainability
is pivotal to
driving long-
term operational
resilience and
success, rather than
just a compliance
obligation.
Under the leadership of Non-
Executive Director Kate Harcourt,
the Sustainability Committee
shapes strategy and fosters Board
engagement on environmental
impacts, risks and opportunities.
Meeting once a quarter, it keeps
the Board abreast of sustainability
issues and our Sustainability
Policy guides our approach to ESG
matters, covering commitments to
operational safety, environmental
management, occupational health
and safety, and innovation.
The Sustainability Committee
is responsible for proposing
ambitious but realistic ESG targets
and monitoring their progress. It
collaborates directly with other Board
committees to address matters such
as physical risks, climate change
management and opportunities,
human rights, diversity, resource
efficiency, natural capital, waste
management and the circular
economy.
Sustainability strategy
and roadmap
Review and monitoring of
sustainability priorities for 2025,
including discussion of the
medium-term sustainability
roadmap and the integration of
ESG considerations into business
planning.
Sustainability reporting
and regulatory readiness
Oversight of sustainability
reporting, including preparation
for evolving reporting
requirements and discussion
of alignment with recognised
reporting frameworks.
CSRD double materiality
assessment
Regular updates on progress with
the double materiality assessment
as a foundational step towards
future compliance with the CSRD
including Scope, methodology and
external support.
ESG performance and metrics
Review of ESG performance
indicators, with a particular focus
on water management, energy
use, climate-related matters and
environmental monitoring at
operating sites.
Tailings and physical risk
management (GISTM)
Oversight of progress against
the Global Industry Standard on
Tailings Management (including
governance, technical reviews and
implementation planning).
Governance and resourcing
for sustainability
Consideration of sustainability
governance arrangements,
internal roles and resourcing,
including the evolution of
management responsibilities
following changes in sustainability
personnel.
In 2025 the Sustainability Committee focused on the following areas:
35
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate
Governance
Our governance structure
Role of the Sustainability
Committee
Board remuneration
Risk assessment
and monitoring
Corporate policies
and upholding
ethical conduct
Proyecto Riotinto –
operating policies
Management
systems at sites
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Board remuneration
The role of the
Remuneration
Committee (RC) is
to review and make
recommendations
to the Board on
the Directors’
remuneration
framework, in
accordance with
the Directors’
Remuneration
Policy approved by
shareholders.
Non-Executive Directors receive
an annual fee, with additional fees
reflecting the time commitment
and responsibilities of specific roles
(for example, committee chairing
or membership). Fee levels are
reviewed annually, taking account
of market conditions and the
responsibilities of each position.
Additional fees are awarded for
chairing or participating in Board
committees and Non-Executive
Directors also receive benefits like
liability insurance coverage.
The RC also sets and reviews
performance objectives for the
CEO and senior management,
assessing the CEO’s performance
together with the chairman and
recommending appropriate
compensation.
(€M)
2025 2.7
2024 1.9
2023 1.6
2022 1.8
2021 1.8
These figures include variable remuneration,
attendance fees, severance pay, payment into
long-term savings benefit systems and any other
remuneration the Directors may receive. On average,
there were five male and three female Directors
in 2025. The five males includes the CEO, whose
remuneration reflects his dual role as CEO and
Board member, rather than Board membership
alone. The average remuneration for our three
women Directors was €72k.
Board remuneration
(€M)
2025 3.1
2024 1.2
2023 1.0
2022 1.2
2021 1.1
Senior management remuneration includes the
CFO, the General Manager of Proyecto Riotinto and
the General Manager of Proyecto Touro. The average
remuneration for these roles is €664k. These figures
include variable remuneration, payment into
long-term savings benefit systems and any other
remuneration that senior management may get.
Senior management
remuneration
For more information, please see our Annual Report.
36
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate
Governance
Our governance structure
Role of the Sustainability
Committee
Board remuneration
Risk assessment
and monitoring
Corporate policies
and upholding
ethical conduct
Proyecto Riotinto –
operating policies
Management
systems at sites
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Risk assessment and monitoring
The mining industry
involves significant
operational and
environmental
challenges that
require proactive
risk management,
physical, operational
and financial.
Our operating management aims
to keep our staff secure, safeguard
the interests of stakeholders and
protect the local environment.
To keep abreast of potential
hazards, we conduct physical
and operational risk assessments
which are formally reviewed by
the Board on a quarterly basis
via a Risk Management Policy,
with a separate Financial Risk
Management Policy to support
financial targets.
The Board holds ultimate
responsibility for approving and
overseeing potential physical dangers
via the Physical Risk Committee,
while operating departments within
the Company are responsible for
identifying and developing specific
mitigation measures within the
overall risk management system.
This comprehensive approach allows
us to focus not only on specific
financial matters but also actively
tackle risks related to broader
sustainability and ethical issues.
In 2025, Atalaya strengthened its
risk management framework by
replacing department-by-department
spreadsheet tracking with a unified,
standardised system across the
Group. With support from an external
specialist, all financial and non-financial
risks are now assessed through
consistent criteria and recorded in a
structured workflow that documents
controls, evaluates risks before and
after mitigation, and ensures regular
cross-department review.
This harmonised approach enhances
transparency, improves the quality
of decision-making, and aligns the
Company with the expectations of
the 2024 UKCGC. These upgrades also
lay the groundwork for the creation
of an internal audit function, making
our overall governance and resilience
more robust.
More information can be found in our
Annual Report.
Aside from that, because we are
now a FTSE 250 company, our
benchmark is the UKCGC and our
governance framework has been
expanded with an in-depth review
of governance practices.
This included engaging directly with
key shareholders and investment
funds to understand their views on
executive remuneration following
the most recent AGM, where four
resolutions received less than 80%
support, triggering additional
disclosure requirements under the
code. This process involved months
of detailed analysis and transparent
communication, reflecting a
broader shift at Atalaya toward
stronger governance and enhanced
accountability.
Board renewal
Refreshing our Board
members has played a
central role in strengthening
our governance: three of
Atalaya’s eight Directors
have joined since 2025,
injecting a new dynamic and
higher expectations around
oversight and performance.
These changes are evident
in the increased demands
of the Audit Committee, for
example, which now requires
more frequent and detailed
reporting, particularly on
risk management; senior
executives must now present
updates multiple times a
year compared with the
historical practice of annual
reporting.
These changes demonstrate
our commitment to
transparency, responsiveness
and continuous improvement
in governance.
37
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate
Governance
Our governance structure
Role of the Sustainability
Committee
Board remuneration
Risk assessment
and monitoring
Corporate policies
and upholding
ethical conduct
Proyecto Riotinto –
operating policies
Management
systems at sites
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Corporate policies and upholding ethical conduct
To foster a culture
that prioritises
transparency,
integrity and
responsible business
practices, we follow
the UKCGC.
Our policies set out our approach
to ethical and responsible business
practices and a comprehensive
list of them can be found on our
website: www.atalayamining.com
Code of Business Conduct and Ethics
Anti-bribery and Corruption Policy
Related Party Policy/Conflict of Interest Policy
Whistleblowing Policy
Shareholder Communication Policy
Continuous Disclosure Policy
Risk Management Policy
Share Dealing Code
Community Relations Policy
MAR Compliance Policy
Prevention of Modern Slavery Policy and Statement
Supplier Payment Policy
Board Diversity Policy
Sustainability Policy
Directors’ Remuneration Policy
38
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate
Governance
Our governance structure
Role of the Sustainability
Committee
Board remuneration
Risk assessment
and monitoring
Corporate policies
and upholding
ethical conduct
Proyecto Riotinto –
operating policies
Management
systems at sites
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Proyecto Riotinto – operating policies
Our only
operational asset,
Proyecto Riotinto,
managed by
Atalaya Riotinto
Minera S.L.U.
employs more than
90% of the Atalaya’s
workforce.
Proyecto Riotinto has
its own ethics and
compliance systems
to ensure responsible
practices to consistently
manage impacts, risks and
opportunities.
Criminal compliance system
The criminal compliance system for Atalaya
Riotinto Minera, S.L.U. includes a risk map,
Compliance Policy and a criminal liability
prevention manual which sets out to
anticipate and manage risks, including
corruption.
At present, the system covers operations
at Proyecto Riotinto alone as it’s the
Group’s sole operating subsidiary, and is
embedded into our management systems.
Implementation activities will continue
throughout 2026 to extend the system to the
remaining Group companies, tailored to the
needs of each.
Furthermore, the new procedure within
Proyecto Riotinto for managing gifts and due
diligence controls on business partners is
currently under review by management.
The Proyecto Riotinto Compliance
Committee oversees the effective operation
of, and adherence to, the system. This
committee has five members, including
an independent lawyer as the external
compliance officer, and reports to
management on at least a half-yearly basis.
Management is responsible for the review of
the system and the approval of procedures.
Criminal liability
prevention manual
Our criminal liability
prevention manual, drawn
up with an external legal
consultant, is based on
guidelines from the Spanish
Criminal Code reform of 2015.
It provides a clear basis for
actions that could lead to
offences, whether or not the
organisation is liable3.
Compliance training
To make sure everyone
understands the importance
of compliance, we have
an employee training
programme which is
regularly updated and all of
Atalaya’s staff take part as
soon as they are onboarded.
A comprehensive list of all operational policies can
be found on our website: www.atalayamining.com
Operational policies:
Code of Conduct
Compliance Policy
Environmental Policy
Quality Policy
Health and Safety Policy
Major Accident Prevention Policy
Energy Policy
3 Its remit covers offences
allowing penalties for
legal entities under
Article 31 bis of the
Penal Code and actions
that could face serious
criminal reproach under
Article 129.
39
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate
Governance
Our governance structure
Role of the Sustainability
Committee
Board remuneration
Risk assessment
and monitoring
Corporate policies
and upholding
ethical conduct
Proyecto Riotinto –
operating policies
Management
systems at sites
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Management systems at sites
Our Integrated
Management
System (IMS)
supports us in
the practical
coordination we
need to manage
and coordinate all
major assets and
projects at Proyecto
Riotinto. Using
this framework,
we enhance our
environmental
performance,
strengthen
occupational health
and safety practices,
and improve the
speed and efficiency
of our responses to
stakeholders.
The IMS is independently certified to
ISO 9001:2015 for quality management,
ISO 14001:2015 for environmental
management and ISO 45001:2018 for
health and safety. Its effectiveness is
verified through scheduled external
audits and in 2022 Bureau Veritas
renewed all certifications, confirming
compliance through to 2026.
Our Integrated Management System
(IMS) ensures that environmental
management practices are
communicated both internally and
externally to stakeholders through
certified processes, regulatory
disclosures and sustainability
reporting, supporting transparency
and continuous improvement.
It includes ways to identify anomalies
and implement corrective and
preventive actions after audits,
monitor activities and incident
reviews, and ensure progress in
environmental performance.
It also allows us to identify, monitor
and ensure compliance with
applicable environmental legislation
and regulatory requirements in the
same way.
Since 2023, we have had a Sustainable
Mining Management Policy at Cobre
San Rafael for Proyecto Touro in
Galicia to make sure responsible
practices are aligned and have a clear
process. This entity is also certified
under the Spanish Standard UNE
22480:2019 for sustainable mining
management.
The list of all our
certificates is available
on our website.
40
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate
Governance
Our governance structure
Role of the Sustainability
Committee
Board remuneration
Risk assessment
and monitoring
Corporate policies
and upholding
ethical conduct
Proyecto Riotinto –
operating policies
Management
systems at sites
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Our people
41
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Our commitment
to people
Health and safety
across Atalaya
Talent attraction and
development at Atalaya
Diversity, equality
and inclusion
Employee compensation
and benefits
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
41
ATALAYA MINING · SUSTAINABILITY REPORT
2025
Highlights 2025
Goals 2026
□ Talent attraction and
development strategy,
including participation in
higher education job fairs
□ Implementation of
equality plan
Our main challenge in 2025 was
finding the skilled employees we
need. In an increasingly stretched
labour market, where competition
is global due to a shortage of
specialised mining skills, we began
developing strategies to strengthen
Atalaya’s position as a leading
employer brand within the mining
industry. One of these was to create
a dedicated portal for entry-level
and work experience roles (see
“Training” below).
Atalaya Mining
Copper
total workforce
514
(vs 494 in 2024)
23% women
in Atalaya workforce
(vs 21% in 2024)
93.4%
permanent
contracts
(vs 93.5% in 2024)
8,494
training hours
(vs 6,572 in 2024)
68%
local employees
(67% in 2024)
42
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Our commitment
to people
Health and safety
across Atalaya
Talent attraction and
development at Atalaya
Diversity, equality
and inclusion
Employee compensation
and benefits
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Our commitment to people
People are central to
Atalaya’s operations
and long-term
success and we are
therefore committed
to building a skilled,
engaged and
high-performing
team that
contributes to
sustainable business
growth.
Atalaya endeavours to attract
and retain talent with a working
environment that supports
professional development over
the long term. This approach is
underpinned by: keeping the
highest standards of health
and safety; training and career
development opportunities; fair,
inclusive and supportive working
conditions for all.
In 2025, the Human Resources
department made significant
strides in digitising administrative
processes. This will help to improve
onboarding of new employees as
well as more efficient in-house
communication and administration.
In 2025, Atalaya employed
514 people, excluding senior
management, compared with 494
in 2024. We also depend on a wide
network of specialist contractors and
in 2025, an average of 290 contractor
companies supported Proyecto
Riotinto, that is, approximately 774
contractor employees.
More than 90% of Atalaya’s
workforce is based at Proyecto
Riotinto, with 68% residing locally
and 93.4% with permanent
contracts, demonstrating our
preference towards stable, local
employment.
Atalaya workforce data
2025 2024 2023 2022 2021
Total employees 514 494 482 494 503
By gender
Female 119 104 96 91 85
Male 395 390 386 4 03 418
By age
Under 30 years old 45 40 45 59 74
30-50 years old 356 345 337 329 343
Over 50 years old 113 109 100 106 86
By professional category
Management 18 21 17 18 17
Administrative 62 58 53 51 50
Technicians 117 108 103 101 101
Mine and plant operators 317 307 309 324 335
By district
Riotinto District 482 464 453 468 485
Touro District 19 16 16 15 15
Extremadura district 9 10 10 8 N/A
Other (Cyprus and
London offices)
43
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Our commitment
to people
Health and safety
across Atalaya
Talent attraction and
development at Atalaya
Diversity, equality
and inclusion
Employee compensation
and benefits
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
We are pleased to have a higher
proportion of female employees
than is usual in our industry, with
23% women in 2025 vs a 8% mining
industry average.
The highest percentage of
women in Atalaya’s workforce is
in the professional category of
administrative staff (61.2%) followed
by technical roles (33.7%) and
management (24.5%).
In 2025, 37.5% of our Board members
were female versus 24% in 2024,
boosted by the nomination of Ms.
González-Izquierdo.
Our equality plan is designed to
guarantee equal treatment and
opportunities for all, preventing any
form of gender-based discrimination
(see DEI section below).
Training helps drive our development
as a company, because it underpins
innovation, skill-building and
adaptability. Together with our
practice of prioritising internal
candidates when filling vacancies,
training supports job satisfaction and
gives us the advantage of garnering
the full capabilities of our teams.
Further details on our workforce can be
found in the Sustainability Data annex.
2025 2024 2023 2022 2021
Total permanent employees 480 462 4 47 442 423
By gender
Female 106 95 91 84 73
Male 3 74 367 356 358 350
By district
Riotinto District 448 432 419 417 406
Touro District 19 16 16 14 14
Extremadura District 9 10 9 8
(Cyprus and London offices) 4 4 3 3 3
Total temporary employees 34 32 35 52 80
By gender
Female 13 9 5 7 9
Male 21 23 30 45 71
By district
Riotinto District 34 32 34 51 79
Touro District 0 0 0 1 1
Extremadura District 0 0 1 8 N/A
(Cyprus and London offices) 0 0 0 0 0
Total part-time employees 8 7 8 7 5
Female 4 3 5 5 3
Male 4 4 3 2 2
Total full-time employees 506 4 87 474 487 498
Female 115 101 91 86 82
Male 391 386 383 401 41 6
44
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Our commitment
to people
Health and safety
across Atalaya
Talent attraction and
development at Atalaya
Diversity, equality
and inclusion
Employee compensation
and benefits
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Highlights 2025
4.80 total lost time
injury frequency rate
(LTIFR) for Atalaya own
employees and contractors
2.65 LTIFR
for own employees
0.06 severity rate
for Atalaya staff
3,166 hours of health and
safety training for own staff
35,466 hours
health and safety training
for contractors
Almost all staff took part in
a “zero harm” survey and
we implemented several
improvements based on this
valuable feedback.
Atalaya won three separate
awards for its safety practices
(see box below).
Health and safety across Atalaya
Keeping our workforce safe
Protecting our staff,
employees and
contractors alike, is our
highest priority.
As the mining industry continues to
evolve, we remain alert to emerging
risks and changing conditions as
well as the need to keep abreast of
technology developments which
change our approach to our work.
That means keeping training up
to date, reviewing procedures
regularly and ensuring that everyone
on site understands their role in
maintaining an accident-free working
environment. This commitment
reflects the principles set out in our
Occupational Health and Safety
Policy and applies to all personnel at
Proyecto Riotinto.
Over the past year we have seen
both employees and contractors
taking greater ownership of safety,
strengthening our performance and
reinforcing a culture of prevention.
Our management system includes
dedicated measures for the many
partners who support our operations.
In 2025, 290 contracting companies
worked at Proyecto Riotinto, with an
average of 774 contractor employees.
A coordinator within our prevention
service monitors contractor working
conditions, while contractors
participate directly in Atalaya’s
health and safety initiatives. Before
beginning any activity on site, each
collaborating company must be
accredited to confirm its capability
and the compliance of its equipment.
Our prevention technicians then
review and validate all required
documentation, ensuring consistent
standards across the Board.
Goals 2026
□ Expand “zero harm”
project with goals for
each department
□ A review of the
psychosocial risk
assessment will be
carried out for all
personnel
□ Assessment of
physiotherapy service
to be delivered through
medical unit
□ Review Atalaya’s “self-
protection” plan to
update inventory of self-
protection equipment
45
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Our commitment
to people
Health and safety
across Atalaya
Talent attraction and
development at Atalaya
Diversity, equality
and inclusion
Employee compensation
and benefits
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Our approach to safety
Keeping our workforce safe relies on
three foundations: strict regulatory
compliance, safety integration in
everyday work and a preventive culture
that puts people first. To make sure
this is effective, we apply the highest
standards available and use modern
tools, including virtual-reality training.
Taking safety seriously means we
investigate every incident, even
those that seem minor as seemingly
innocuous issues can escalate if
left unaddressed. For each event,
we examine the circumstances,
the equipment involved, how the
individual acted and whether
procedures were correctly followed.
The affected employee, supervisors,
safety technicians, contractors and
worker safety representatives all
contribute in this collaborative effort,
so we can define corrective measures
and prevent recurrence or escalation.
Early detection of hazards is equally
important. Daily inspections, routine
risk assessments, incident reporting,
management procedures, regular
team meetings and annual training
sessions all help us stay ahead of
potential risks. Any hazard we identify
is carefully assessed and addressed
through specific preventive actions,
which are integrated into our annual
health and safety planning and
monitored by the Health and Safety
Director and approved by the Director
of Operations.
Oversight is strengthened by our Health
and Safety Committee, composed
of management and employee
representatives, which operates under
its own governance rules.
Our Occupational Health and Safety
Management System is certified to
ISO 45001:2018, and both internal
and external audits — including
mandatory legal compliance
audits every two years — ensure its
effectiveness. In 2025, no corrective
actions were required, reflecting the
system’s robustness.
Proyecto Riotinto also has an in-house
prevention service with qualified staff
who specialise in occupational safety,
industrial hygiene, ergonomics and
applied psychosociology. We have
an external medical provider who
conducts annual medical exams for
all employees and our exploration and
permitting projects have dedicated
prevention technicians too.
Proyecto Touro, Masa Valverde and
Ossa Morena are not yet operating
and therefore fall outside the
certified system, but the same safety
procedures will extend to them as
they advance toward production.
2025 2024 2023 2022 2021
Lost time injury frequency rate (LTIFR)
4
Own employees 2.65 1.31 5.34 5.12 6.09
Contractors 5.72 4.26 3.13 10.15 10.00
Total
(own employees + contractors) 4.80 3.33 3.94 8.15 8.48
High-consequence injuries frequency rate
5
Own employees 0 0 1. 34 0 0
Contractors 0.00 0.61 0.00 0.00 0.7 7
Total
(own employees + contractors) 0.00 0.42 0.4 9 0.0 0 0 . 47
Severity rate
6
Own employees 0.06 0.07 0.27 0.18 0.20
Contractors 0.25 0.12 0.06 0.25 0.28
Total
(own employees + contractors) 0.20 0.10 0.14 0.22 0.25
4 LTIFR is calculated as the total number of lost time accidents (including high consequences injuries) per
million hours divided by the total number of hours worked.
5 High-consequence injuries is the amount of injury (classified by the Mutual Insurance Company for
Industrial Accidents (Mutua de Accidentes de Trabajo)) due to a serious accident at work resulting in death
or damage such that the worker is unable to recover, does not recover, or is not expected to fully recover
his or her pre-accident state of health within six months (serious injury or accident). In 2025 there were
no serious accidents. Ratio calculated by the following formula: number of high consequences injuries *
1,000,000 hours/total hours worked in the year
6 Severity rate: calculated by the following formula: days lost because of lost time injuries * 1,000 / total hours
worked in the year.
Work-related injuries at Proyecto Riotinto
More data and details
regarding work related
injuries can be found in the
sustainability data annex.
46
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Our commitment
to people
Health and safety
across Atalaya
Talent attraction and
development at Atalaya
Diversity, equality
and inclusion
Employee compensation
and benefits
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Key initiatives
As we grow and technology advances, it is important to keep abreast of changes and improve
safety where possible. The following examples show how we did this in 2025.
“Zero harm” project
As part of this initiative to
strengthen safety culture and raise
risk awareness with active worker
participation, we ran an anonymous
survey across every department
and our main contractors.
They were asked two simple
questions:
□ What do you think Atalaya can
do to improve safety at the mine?
□ What can you personally do to
improve safety at the mine?
We are happy to report that 98%
of our staff took part in the survey
and each participant then reviewed
and evaluated the answers of their
colleagues.
With support from AI, responses
were classified according to how
common they were and how
strongly people agreed with
them. Based on this analysis, we
started working on both company-
level initiatives and personal
commitments.
What would therefore be the strategic
roadmap to achieve ZERO HARM at Atalaya?
Business initiatives PRIORITISED by prevalence
Personal goals PRIORITISED by prevalence
71%
Improve roads
and signage
INFRASTRUCTURE
64%
Role-based
training
TRAINING
61%
Plan
the work
MOTIVATIONAL
60%
App for
reporting
TRAINING
60%
Ensure use of
radios
INFRASTRUCTURE
67%
Strengthen
training
TRAINING
64%
Select “safe
people”
TRAINING
63%
Team
wellbeing
MOTIVATIONAL
62%
Learning from
one another
TRAINING
55%
Improve
signage
INFRASTRUCTURE
The project has already
led to several actions:
□ Better radio equipment
□ A new app for
reporting safety alerts,
improving planning
and communication
tasks for mine
operations as well as
safety
□ Shared learning
programmes focused
on critical tasks
□ Improved road signage
in the mine and
tailings areas with
input from contractors
and thereby improved
safety
□ Enhanced on-the-job
training
□ Selecting safe people
47
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Our commitment
to people
Health and safety
across Atalaya
Talent attraction and
development at Atalaya
Diversity, equality
and inclusion
Employee compensation
and benefits
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Health and Safety awards
Our health and safety performance
won three different awards in 2025:
The 2025 Euromines Gold Safety
award for our field leadership
initiatives, strong worker-centred
approach and culture of care.
Atalaya also earned the
Antonio Baró award, a Spanish
benchmark for safety excellence.
We won a special mention for
innovation in risk prevention
through its “Zero Harm”
challenge, which recognises
companies with three years of
declining accident rates and a
significantly better performance
than sector averages.
Atalaya was recognised by
the Andalusia regional
government for good practices
in occupational health and safety
management, particularly for its
field leadership work.
Atalaya receives “Gold” recognition for Euromines safety.
Prize A.Baró for safety.
Field Leadership Programme
Field leadership is a proactive
safety practice in which
technical staff regularly visit
operational areas to observe
work, engage with employees
and reinforce safe behaviours.
It is designed to strengthen
safety culture through direct,
visible leadership in the field
rather than only from offices
or via formal procedures.
Introduced in 2019 to drive a
cultural shift in occupational
health and safety, we mix
groups of employees regardless
of their usual role to visit any
part of the mining operation,
including areas managed by
contractors. They undertake
activities to identify risks,
understand daily activities and
promote safe practices.
This programme has several
benefits:
□ It demonstrates how
important risk prevention is
and how dedicated we are to it
□ It fosters a stronger safety
culture by demonstrating
active involvement by staff
who may not normally work
in prevention roles
□ It builds cross-departmental
understanding of all areas of
the operation
□ It brings together diverse
groups and generates cross-
functional learning, leading
to an appreciation of other
teams’ work and a “sticky”
culture
We have a digital tool which
supports the programme by
recording activities, statistics
and participation. Each month,
teams carry out level audits,
preventive observations, safety
inspections and “stop and talk”
safety conversations.
In 2025, over 120 employees,
that is, 26% of personnel (all
technical staff and department
heads) and 12 major contractors
took part in the initiative.
48
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Our commitment
to people
Health and safety
across Atalaya
Talent attraction and
development at Atalaya
Diversity, equality
and inclusion
Employee compensation
and benefits
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Other initiatives
We carried out an ergonomic impact analysis
across the workplace and followed up with risk
assessments where needed.
As part of this initiative 36 specific job positions
were reassessed for manual handling of loads,
repetitive movements and awkward postures.
Preventive measures were established for
these roles, some organisational in nature
while others required new equipment to help
specifically with manual loading tasks.
Separately, in the first quarter of 2025, doctors
from Riotinto Regional Hospital carried out
a health survey on 172 Atalaya volunteers to
determine the risk of heart disease due to
buildup of fatty deposits inside the arteries as
part of a research project.
Participating in the study is beneficial to
Atalaya personnel and may eventually prove so
for the wider population if can be extrapolated.
Virtual reality (VR) training
In 2025 we expanded VR training to
confined spaces and we repeated
haptic sessions for working at heights,
offering full immersion with images
from the actual site. Additional sessions
were delivered for fire extinguisher
use and training for electrical risk was
developed for the first time.
These sessions promote awareness
and safe behaviours by simulating
risk scenarios and providing a sensory,
real time and individual learning
experience, creating memories without
exposure to adverse consequences and
educating our workforces regarding
risks in a deeper way within a secure
environment.
The entire workforce has now been
trained on at least one element of this
programme, which started in 2023.
Haptic safety training
Personalised guidance in each virtual reality
training session.
49
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Our commitment
to people
Health and safety
across Atalaya
Talent attraction and
development at Atalaya
Diversity, equality
and inclusion
Employee compensation
and benefits
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Proyecto Riotinto: Emergency preparedness and response
At Proyecto Riotinto, protecting
people and the environment is
a core commitment. Our Major
Accident Prevention Policy, signed
by senior leadership, sets the highest
expectations for safety across the site.
Being ready for emergencies is a key
part of our management system and
we run regular drills so that teams
know exactly what to do if an incident
occurs. Our internal emergency
plans outline who does what, how
communication should work and the
steps to follow.
Preparedness also extends beyond
our own operations. An External
Emergency Plan is in place to support
coordination with public authorities,
emergency agencies and response
teams. This plan, developed by the
relevant authorities using information
supplied by Atalaya, helps ensure that
any major incident can be controlled
and its impact reduced.
50
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Our commitment
to people
Health and safety
across Atalaya
Talent attraction and
development at Atalaya
Diversity, equality
and inclusion
Employee compensation
and benefits
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Talent attraction and development at Atalaya
Hiring the best talent Management approach
Access to skilled
professionals powers
our ability to grow
and compete.
For this reason, we focus on creating
conditions that attract talent and
support long-term careers. This
includes a strong commitment
to workplace safety, transparent,
equitable and competitive pay
structures, and attractive growth
opportunities.
We place particular emphasis
on learning and progression. By
investing in people, we strengthen
organisational performance while
improving retention in a sector where
specialist skills are hard to come by.
This helps maintain continuity, builds
institutional knowledge and supports
delivery of our strategic objectives.
Training is embedded in our
daily routine through role-based
learning and targeted development
programmes. Employees are
also encouraged to expand their
capabilities through new and
specialised courses, helping to
keep the workforce adaptable and
equipped to meet evolving industry
demands.
In our efforts to recruit the best-
qualified personnel, we collaborate
with professional training colleges
and higher education institutions
who run relevant and specialist
courses within our industry, such as
water management, or mining and
engineering skills. These include
Seville, Cádiz, Córdoba, Huelva,
Madrid and Oviedo universities as
well as several secondary schools
and colleges mainly in Huelva and
Seville. A strong relationship with
these institutions gives us access to
newly qualified workers and allows
us to share our professional needs
with the appropriate educational and
workforce community.
Atalaya employs a higher proportion
of women than is typical in the sector
and continues to promote women
in technical roles. While the talent
pipeline remains limited due to lower
female participation in relevant study
specialisations, we actively support
the progress of qualified women
into traditionally male-dominated
positions. Collaboration programmes
with further education institutions
are helping to tackle this such as the
Chamber of Commerce of Seville and
Cuenca’s Mining Institute (Instituto
Cuenca Minera).
2025 2024 2023 2022 2021
Total number of new
employee hires
(%) Turnover rate 4 .16 6 .58 11.17 7. 8 3 7 .98
Total number of dismissals 1 8 8 4 2
Hours of absenteeism 58,934* 62,741 54,766 62,480 60,934
Percentage of absenteeism 7.17% 7.51% 6.97% 7.42% 7.05%
*The absenteeism hours include permitted leaves, totalling 9,536 hours (8,822 hours in 2024).
51
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Our commitment
to people
Health and safety
across Atalaya
Talent attraction and
development at Atalaya
Diversity, equality
and inclusion
Employee compensation
and benefits
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Key initiatives
Local workforce strength
One of our defining strengths is
to seek to hire local staff wherever
possible. Strong ties with staff
who come from the area, rather than those
who have moved here from beyond Spain,
strengthens the social fabric around us and
makes our operations more robust.
At Proyecto Riotinto, we have deep knowledge
of the local community and its challenges
and an evident interest in its continued
development. Wherever possible we hire local
personnel.
In 2025, 68% of Proyecto Riotinto’s total
workforce was from neighbouring villages (vs
67% in 2024) and we have local collaboration
agreements in other regions of Spain where
we operate.
For Atalaya assets as a whole, 72.5% of
employees come from nearby areas (including
our Extremadura and Galicia projects).
Training
In 2025 we created a dedicated portal to manage supply and
demand for entry-level and work experience roles within the
Company, in line with other international mining companies.
Through our “Talent Clue” careers page, we are building a
new opportunities section in 2026 for those pursuing studies
relevant to the mining sector. The portal allows applicants
from any educational institution to apply for internships,
access information on practical experiences and to read real
testimonials.
This is part of how we are spreading the word about
Atalaya and its commitment to training and professional
development, creating a Foundation to attract new
jobseekers in the market.
To the same end, we also took part in outreach sessions at
local secondary schools to raise awareness about Atalaya and
flag interesting roles.
An Advanced Diploma in Chemical Plant Operations course
runs at further education college IES Vázquez Díaz, Nerva.
This course strengthens technical education in the local
mining region, improving students’ job readiness and
increasing access to qualified local talent. That also allows
us to strengthen community ties and supports regional
economic and social development.
52
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Our commitment
to people
Health and safety
across Atalaya
Talent attraction and
development at Atalaya
Diversity, equality
and inclusion
Employee compensation
and benefits
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
2025 Atalaya training plans
Health and
safety training
5,244 hours
Equality
and inclusion
training
408 hours
Other training
2,842 hours
□ Continuous training in
geochemistry, advanced
geographic information
systems and mining geophysics:
specialist training to analyse
rock and soil composition, map
underground resources and
interpret geophysical data to
improve exploration accuracy
and planning
□ Geological and mining software
programmes (RecMin Free and
Professional): using industry
software to model ore bodies,
plan extraction, estimate reserves
and support operating decisions
□ Drone operation for geotechnical
applications: training staff to
use drones to survey slopes, pits
and infrastructure, improving
safety and precision in terrain
monitoring and stability analysis
□ Application of Minitab in
metallurgy: use of statistical
software to analyse production
data, optimise mineral
processing, improve efficiency
and control product quality
□ Level II thermography and
vibration analysis for preventive
maintenance: advanced training
to detect equipment overheating
or abnormal vibrations, helping
prevent breakdowns, reduce
downtime and improve safety
□ Health and safety training (see
Health and Safety chapter)
□ Environmental training and
awareness for new hires
□ Training in geomorphological
mining restoration using the
GeoFluv method and Natural
Regrade software
□ Quality training-Integrated
Management Systems training
(three standards) for new
internal auditors
□ Energy Management System
training (ISO 50001) to
integrate energy management
into the Company’s overall
management system
□ Leadership Development:
a training programme for
supervisors and middle
managers, launched in 2024,
was completed in 2025
Some of our training highlights in the past year include:
2025 2024 2023 2022 2021
Average hours of training 8,494 6,572 8,242 8,526 6,521
See more details in
sustainability data annex.
53
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Our commitment
to people
Health and safety
across Atalaya
Talent attraction and
development at Atalaya
Diversity, equality
and inclusion
Employee compensation
and benefits
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Diversity, equality and inclusion
Diversity and inclusion
are recognised as key
drivers of organisational
performance and
resilience.
Evidence shows that teams with
varied backgrounds and perspectives
are more productive, innovative
and better equipped to respond to
complex challenges, while inclusive
workplaces foster engagement,
cohesion and employee retention in
a competitive labour market.
Atalaya is committed to providing
a safe, respectful and high-quality
working environment that upholds
the human rights and dignity of all
people, including employees and
contractors engaged directly or
indirectly at Proyecto Riotinto. The
Company maintains a zero-tolerance
approach to harassment, violence,
abuse or discrimination of any kind,
recognising the harmful impact
such behaviour has on individual
wellbeing and on the integrity of the
workplace.
Commitment to a diverse,
equal and inclusive workplace
54
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Our commitment
to people
Health and safety
across Atalaya
Talent attraction and
development at Atalaya
Diversity, equality
and inclusion
Employee compensation
and benefits
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Management approach
Our Code of Ethics rejects any
discrimination based on ethnicity, race
or nationality, national origin, ideology,
religion or beliefs, family situation, sex,
age, sexual or gender orientation or
identity, illness or disability.
To ensure compliance, Proyecto
Riotinto, which employs more than
90% of total Group employees, has an
Ethics and Whistleblowing Channel for
reports of possible non-compliance,
available to all staff and managed
by an external company to reinforce
confidentiality and good faith.
We also have an Equality Plan which
sets out specific objectives, strategies
and practices, effective monitoring
and evaluation systems.
In addition, our management team
has reaffirmed its commitment
by formally establishing and
developing policies to treat men and
women equally and offer the same
opportunities, without discriminating
directly or indirectly on the basis of sex.
The Board has also reaffirmed its
commitment to promoting effective
equality, supporting equal treatment
and opportunities in the workplace
between women and men as a
strategic principle.
The Equality Plan will undoubtedly
lead to improvements and contribute
to achieving effective equality
between women and men in Atalaya
and, by extension, help society as a
whole. The Company is also firmly
committed to guaranteeing and
promoting the right to real and
effective equality of lesbian, gay, trans,
bisexual and intersex (LGTBI+) people
in Atalaya.
At Board level, there is a Board
Diversity Policy which sets out the
approach to diversity at Board and
senior management level and is
implemented and overseen by
the Nominations and Governance
Committee.
We also have a Diversity Committee,
with representatives from the
Human Resources, Corporate Social
Responsibility, Communication and
Sustainability departments. This
committee promotes projects to raise
awareness of social realities, fostering a
welcoming and inclusive environment
for employees.
Please find all the relevant
policies on our website.
55
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Our commitment
to people
Health and safety
across Atalaya
Talent attraction and
development at Atalaya
Diversity, equality
and inclusion
Employee compensation
and benefits
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Equality
Key initiatives
in 2025 include:
The development of a guide
on inclusive and non-sexist
communication, leading to improved
use of inclusive language across the
Company.
We introduced a company-wide
inclusive communication guide
to improve how we use language,
images and audiovisual content
across the business. The idea is to
promote clear, professional and
non-sexist language, encourage
the use of gender-neutral terms
where appropriate and provide
practical guidance on job titles
and everyday expressions.
It also sets standards for visual
materials, ensuring balanced
representation of women and
men across roles and avoiding
stereotypes. These principles
apply to both internal and external
communications, reinforcing our
commitment to equality, respect
and a responsible corporate
culture.
We continued equality training
for recruitment and team
management staff, such as
introductory training over three
hours for new recruits regarding
awareness on the prevention
of and response to workplace
harassment, including for the
LGBTI community. This course is
being completed by all staff.
We also consolidated of positive
action measures in recruitment
processes such as non-sexist
language in advertisements for
open positions and a preference
for equally qualified women in
traditionally masculine roles. This
has led to a higher female rate of
employment in operational and
lab roles.
Improving communication for greater equality
56
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Our commitment
to people
Health and safety
across Atalaya
Talent attraction and
development at Atalaya
Diversity, equality
and inclusion
Employee compensation
and benefits
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Diversity
Key initiatives
With the aims above in mind, we
have implemented the following new
internal procedures in 2025.
Equality
training
To implement
these protocols, we have
carried out awareness,
education and sensitivity
training for our staff on
potentially offensive or
demeaning behaviour.
The programmes were
approved in early 2024,
staff training started in
the fourth quarter of
2024 and was scheduled
for completion in the
first quarter of 2025.
This included training
for managers to be able
to identify and report
incidents of harassment.
We are confident that the
Company policies’ address
and protect change the
attitudes of our workforce
for the better.
LGTBI+
harassment
protocol
Proyecto Riotinto approved
this protocol to formalise its
approach to raise awareness
and prevent harassment,
violence and discrimination
in the workplace aimed at
LGTBI+ people.
The measures are
applicable to any workers
providing services at the
Company and cover all
workplace conduct which
impinges on freedom,
with special focus given
to sexual freedom and
moral integrity as well
as situations of sexual
harassment or violence
against LGTBI+ people.
Workplace
harassment
protocol
Proyecto Riotinto has
approved a Workplace
Harassment Prevention
Protocol to outline
measures to address and
harassment, violence,
and discrimination in the
workplace.
The measures are
applicable to any workers
providing services at the
Company and cover all
conduct which impinges on
freedom in the workplace,
with particular attention
to sexual freedom and
moral integrity, especially
situations of sexual
harassment or violence,
for reasons of sex, sexual
orientation and/or identity
and gender expression.
57
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Our commitment
to people
Health and safety
across Atalaya
Talent attraction and
development at Atalaya
Diversity, equality
and inclusion
Employee compensation
and benefits
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Inclusion
Key initiatives
Together with the Adecco Foundation
(a non-government organisation),
we have developed a plan to support
vulnerable people through inclusion,
training and guidance. Our goal is
to contribute to the improvement of
society.
In accordance with Spanish law,
the Company ensures compliance
with the employment quota for
persons with special needs, either
through direct employment or
through authorised alternative
measures, such as contracting
services from special employment
centres such as Ilunion and
Aspomin. In addition, Atalaya
supports social integration
through donation and supports
specific initiatives.
Atalaya continued to implement
its Family Plan and Aflora Plan
which builds social and workplace
inclusion. In 2025, the Company
participated in a disabilities
race held in Seville, supporting
awareness in the business
environment and promoting
collaboration with social
organisations. We also took part
in the mental health campaign
“People matter, talent matters” on
World Mental Health Day, helping
to raise awareness of the inclusion
of people with psychosocial
disabilities in the workplace.
The Company also supported
inclusion initiatives via Adecco’s
“Disability Week” and the “This
Is Progress” campaign, which
highlights how small actions
can drive meaningful change
in employment inclusion. In
addition, Atalaya joined Women’s
Week 2025 in activities to raise
awareness of employment
opportunities for vulnerable
women and those at risk of social
exclusion.
Employing people with disabilities
2025 2024 2023 2022 2021
Number of disabled
personnel
4 6 5 5 5
58
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Our commitment
to people
Health and safety
across Atalaya
Talent attraction and
development at Atalaya
Diversity, equality
and inclusion
Employee compensation
and benefits
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Employee compensation and benefits
Atalaya recognises
the value of a highly
skilled workforce
and seeks to reward
employees through
fair and competitive
compensation.
Salaries are set under a company-
specific wage agreement and apply
equally to men and women, ensuring
pay equity.
Staff also have access to a range of
benefits through partnerships with
external providers. These include private
healthcare, financial services, travel
discounts and vehicle rental options,
details of which are on the internal
employee portal.
Pay equality and equal access to
opportunities are formally embedded
in our collective bargaining agreement.
Remuneration for senior executives is
linked to clearly defined performance
indicators, including safety outcomes,
operational output and financial results.
In addition to salary, Atalaya
employees are covered by Spain’s
national Social Security system, which
provides statutory benefits including
pension entitlement, disability
coverage, unemployment protection
and occupational accident insurance.
These protections apply to all
employees in accordance with Spanish
labour legislation. Further benefits
available to all employees include
education grants, reduced working
hours during the summer period and
shift-related allowances. Employee
relations are managed in line with
legal consultation and communication
requirements, supported by the
Works Council composed of elected
employee representatives.
Atalaya respects freedom of association
and collective bargaining rights. These
principles are aligned with International
Labour Organisation conventions and
the Company’s Code of Conduct, which
prohibits child labour, forced labour
and all forms of exploitation.
Commitment to employee compensation and benefits
59
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Our commitment
to people
Health and safety
across Atalaya
Talent attraction and
development at Atalaya
Diversity, equality
and inclusion
Employee compensation
and benefits
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Average wages (€) 2025 2024 2023 2022 2021
By gender
Female 40,301.38 40,535.24 39,244.07 37,731.65 35,853.89
Male 43,813.96 42,563.47 41,115.37 38,272.65 34,899.25
By age
Under 30 years old 33,595.20 33,633.56 32,306.44 31,073.45 27,463.01
30-50 years old 41,350.65 40,500.64 39,622.34 37,879.11 34,856.18
Over 50 years old 51,944.81 50,434.46 48,314.46 43,036.78 42,413.22
By professional
category
Management
115,324.58 108,044.97 108,084.12 98,020.11 93,704.07
Administrative staff 41,446.07 38,175.11 38,385.39 35,598.96 34,534.46
Technicians 46,624.70 46,409.71 45,405.05 42,616.22 39,509.42
Mine and plant
operators
37,860.53 36,873.19 35,887.99 33,868.25 30,821.86
Note: Our leadership team consists of three individuals (see “Governance” section), and their remuneration is
reported separately for clarity.
The first Collective Bargaining
Agreement was signed in 2019 for
four years, followed by a second
agreement in 2022 with a five-year
term. This agreement applies to
all employees at Proyecto Riotinto,
except in limited cases where terms
are agreed individually. Employees in
other group companies are covered
by the relevant sectoral agreements,
meaning all Atalaya employees fall
under collective agreements.
The most recent wage increase
represents a total rise of 18% over
five years, reflecting the Company’s
commitment to inflation-indexed
pay growth. A new agreement will
be negotiated after 2027. The current
agreement also includes a job
evaluation process, which has been
completed with the support of an
independent consultancy.
On average, starting salaries for new
employees are above the statutory
minimum wage, regardless of
gender.
Working hours
Atalaya’s mine staff work
rotating morning, afternoon
and night shifts throughout
the working week, while
administrative staff work
from Monday to Friday, with
or without shifts. Maximum
annual working hours are set
at 1,738 hours for each worker,
excluding those with special
conditions.
To promote flexibility and
work-life balance, all Proyecto
Riotinto employees have an
option to reduce working
hours in summer by 30
minutes per day. This year
the measure was extended to
three months from June to
September.
We also offer a “no
absenteeism” six-monthly
bonus to encourage regular
attendance, while 24
th
and 31
st
December are holidays for all
employees.
60
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Our commitment
to people
Health and safety
across Atalaya
Talent attraction and
development at Atalaya
Diversity, equality
and inclusion
Employee compensation
and benefits
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Communication
and culture
Parental leave 2025 2024 2023 2022 2021
Total employees entitled
to parental leave
Female 13 11 3 5 3
Male 43 32 23 23 23
More details in Sustainability Data annex.
Maternity and paternity leave
Atalaya provides a range of work-
life balance leave entitlements in
line with applicable legislation and
company policies. These include paid
maternity and paternity leave for birth
or adoption, as well as the recently
introduced unpaid eight-week care
leave designed to support employees’
family and caregiving responsibilities.
Good, broad-based
communication with
employees builds trust and,
ultimately, productivity.
We take on Board
valuable insights from
workers regarding safety,
operational effectiveness
and creativity in decision-
making processes because
we know it contributes to a
positive workplace culture
and long-term success. We
therefore have several internal
communication channels.
These include our employee
platform, regular newsletters,
suggestion boxes, a
WhatsApp channel and
face-to-face meetings. We
also broadcast important
messages via on-site screens.
Additionally we have an “open
door” policy to foster dialogue
between employees, middle
and senior management,
as well as a comments/
complaints channel on our
staff website.
2025 2024 2023 2022 2021
Gender pay gap, or average
remuneration for men to average
remuneration for women
Equal pay
Finally, we take pride in having almost no gender pay gap,
a sign that we employ men and women fairly.
Average pay disaggregated by gender
shows a gap of 8.02% in 2025. The
variation compared with the previous
year is mainly due to a correction in
the UK salary data: in 2024 the salary
of an employee hired in December
2024 was not annualised, which
affected the average salary calculation.
The 2025 figure therefore reflects
a more accurate and comparable
baseline. The gap is not considered
a significant disparity, as it remains
below 25%.
61
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Our commitment
to people
Health and safety
across Atalaya
Talent attraction and
development at Atalaya
Diversity, equality
and inclusion
Employee compensation
and benefits
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Environment
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
62
ATALAYA MINING · SUSTAINABILITY REPORT
2025
Our environmental commitment
In 2025, Atalaya
continued to make
steady progress
bringing sustainability
into every operational
area, strengthening
decision-making,
investment planning
and day-to-day
management. Our
proudest achievement
this year is the major
restoration work on
Ilmenitas with an
innovative naturalistic
approach which is the
first of its kind among
European copper
mines.
Some of our biggest milestones
were new improvements in water
efficiency and phase 1 of our solar
plant, now providing 10% of our
energy needs. These steps move us
closer to decarbonisation and more
circular operations.
Looking ahead, because climate
change and water availability remain
constant challenges, we are focusing
heavily on new technology and better
processes. Our goal is not just to
shrink our environmental footprint
and mitigate operational risks but also
to generate a positive environmental
impact in the areas where we operate.
This will support resilient ecosystems
and the long-term sustainability of
our assets.
See “At a Glance”
63
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Goals 2026
□ Phase 2 of Riotinto
solar plant
□ Obtain
authorisation to
reuse reclaimed
water
□ Achieve full
implementation
of the Alliance for
Water Stewardship
(AWS) Standard
□ Obtain
certification for
ISO 50001 energy
management
system.Continue
environmental
restoration of
mining land,
strengthening
the biodiversity
programme
2.00 m³ of
total water used
per tonne of ore
processed (vs 1.95 m³
in 2024)
0.24 m³ of
freshwater used
per tonne of ore
processed (vs 0.22 m³
in 2024)
Freshwater
withdrawal reduced
by 37% since 2021
(vs 45% reduction in
2024)
Electricity intensity:
22.60 kWh/
tonne ore processed
(vs 22.66 kWh/t in
2024)
Proyecto Riotinto
solar power plant
started operating,
supplying around
10% of the site’s
electricity demand
Progress made
toward reuse of
treated water, with
final authorisation
expected in 2026
Advanced AWS
(Alliance for Water
Stewardship)
implementation,
completing the initial
diagnosis and action
plan
99,292 tCO2e
Scope 1 & 2
(vs 105,076 tCO₂e in
2024)
ISO 50001 energy
management system
fully implemented
Continued
restoration of
historic mining
areas (Riotinto and
Touro), including
erosion control,
revegetation and
monitoring
Milestones
in 2025
64
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Water management
Commitment to responsible water management
At Atalaya, we strive to promote and
exemplify responsible use of natural
resources, especially water, which
is essential to our business and the
communities in which we operate.
This is especially true given that
we operate in an arid region like
Southern Europe, where our primary
operation Proyecto Riotinto is based.
Our Environmental Policy commits to
the efficient use of natural resources,
with a strong focus on water
efficiency management and water
stewardship. Furthermore, internal
and external audits are conducted
under an ISO 14001:2015 certified
environmental management system
and supported by continuous
monitoring and internal controls.
We are constantly innovating to
maximise water recycling and reduce
reliance on external sources.
Oversight of water management
and performance forms part of
the Company’s environmental
governance framework, with key
water-related risks, targets and
performance indicators periodically
reviewed by senior management
and reported to the CEO and the
Board as part of environmental
performance monitoring.
We have hugely improved our water
efficiency in recent years by recycling
and seeking out new water sources,
reducing freshwater consumption
and water stress.
Water efficiency: In 2025, 82% of total water used at Proyecto Riotinto
to produce copper concentrate was recycled. Furthermore, just 12%
of our total consumption was drawn from surface sources outside
the mine, down from 19.6% in 2021. Finally, 6% of all the water we
used to process ore in 2025 was mine site water treated in our Water
Treatment Plant.
Overall consumption is therefore as illustrated below:
2025 water performance
82%
recycled water
12%
surface water
6% Mine water
(rainwater treated in WTP)
More details in “total
water performance” section.
65
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Water management approach
Water is a critical input for ore
processing at our Proyecto Riotinto
plant, mostly via grinding and flotation
processes. Other uses of water include
dust control to improve air quality
and irrigation for gardens around our
offices. Water for staff sanitary use
comes exclusively from local municipal
sources (third-party water).
We categorise the water we use for ore
processing into three types, according
to its source:
1. Recycled water: recovered and
recirculated directly from the
tailings thickener and the tailings
storage facility and used as process
water in ore treatment.
2. Freshwater: from surface water
sources outside the mining project,
that is, the nearby Campofrío,
Aguas Limpias and Odiel reservoirs.
These are public reservoirs and
Atalaya has exclusive water-use
rights for its operations.
3. Minesite water: rainwater that
comes into contact with the
mining area and accumulates
within the site (in pits, for example).
This is conditioned in our Water
Treatment Plant (WTP) and used as
process water in ore treatment.
Our focus, as responsible operators, is to
minimise our freshwater consumption
while maximising our recycled water
and mine water consumption. By
doing this, we reduce dependence on
external water sources, strengthen the
resilience of operations to variations in
climate variability and future demand,
and uphold our commitment to
responsible water stewardship.
Proyecto Riotinto used 27.2 million m3 of recycled water in the ore
treatment plant in 2025, or 82% of the total water used to produce
copper concentrate. The data reflect the effectiveness of closed-
loop water management systems and the recovery of process water
from tailings storage facilities.
Recycled water
2025 2024 2023 2022 2021
Recycled water
(million m3)
27.2 25.1 28.1 24.6 25.5
66
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
In addition to recycled water,
we need external inputs
to compensate for process
water losses (e.g. evaporation,
concentrate moisture or pore
water-water inside the tailings
mass).
These other sources are called
freshwater and mine water.
Proyecto Riotinto is situated in
a medium–high water-stressed
region7. However, Atalaya has the
exclusive rights to use the Odiel,
Campofrío and Aguas Limpias
reservoirs as fresh water for our
industrial process. The regional
government’s hydrological plan
for these catchments allocates
water resources to mining
operations, ensuring needs are
met without impinging on other
users. This regulatory framework
reduces the risk of water stress.
In our case, water withdrawal is
the sum of all that is taken from
surface water or a third party for
any use (we only use third-zparty
water for staff sanitary purposes).
Surface water withdrawal,
as set out in the table below,
has improved dramatically
over recent years because of
a growing reliance on treated
mine site water and continued
improvements in internal water
recycling.
All in all, our initiatives have successfully reduced total surface water withdrawal
by 37% to 4.06 million m
3
in 2025 from 6.49 million m3 in 2021.
This is explained by our capacity to treat rainwater that accumulates in the
mining area in our WTP and to use it for processing, which has risen 79% since
2021 (1.97 million m
3
in 2025 versus 1.10 million m
3
in 2021).
Water withdrawal is continuously monitored and the general manager makes
weekly checks on this. Because it is a material issue, the Board is informed
about water consumption through the Sustainability Committee, ensuring it is
maintained at appropriate levels.
Water withdrawal
Water withdrawal by
source (million m3)
Pct change
2025/2021 2025 2024 2023 2022 2021
Surface water
(freshwater)
-37% 4 .0 6 3.58 4.23 4 .92 6.49
Mine site water (rainwater
treated in WTP)
79% 1.97 2.30 1.62 1.50 1.10
Third party (municipal
water for sanitary use)
-7% 0.02 7 0.0 28 0.026 0.026 0.029
Total water withdrawn -20% 6.0 6 5.90 5.88 6.4 4 7. 6 2
7
World Resources Institute aqueduct water risk atlas https://www.wri.org/aqueduct
As in previous years, in 2025
Proyecto Riotinto used a
closed water cycle with zero
water discharge.
To calculate our water
consumption, we use
the following formula:
Water
discharge
Water consumption
Pct change (%)
2025/2021 2025 2024 2023 2022 2021
Water consumption
(total water withdrawal-
water discharge,
including third party
in million m3)
- 20.50 6 .06 5.90 5.88 6 .44 7. 6 2
67
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
In 2025 Proyecto Riotinto required 2.00 m3 of total water per tonne of ore
processed. Of this, only 0.24 m3 was surface water external to the mining
project, down from 0.41 m3 in 2021.
Water performance per tonne of ore processed
The table below shows the total amount of operational
water by source we use in the ore treatment plant:
In 2025 Proyecto Riotinto required a total of 33.22 million m3
water for its operations. Of this amount, only 12.2% was surface
water from sources external to the mining project, down from
19.6% in 2021.
Total water performance
Operational
water used in
ore treatment
by source
(million m3) 2025 2024 2023 2022 2021
Surface water
(freshwater)
4.06 3.57 4.23 4.92 6.49
Mine site water
(rainwater
treated in WTP)
1.97 2.30 1.62 1.50 1.10
Recycled water
(processed water)
27.16 25.13 28.06 24.61 25.53
Total operational
water
33.22 31.03 33.94 31.05 33.15
Operational
water used in
ore treatment
by source (%)
2025 2024 2023 2022 2021
Surface water
(freshwater)
12.22 11.80 12.47 15.86 19.60
Mine site water
(rainwater
treated in WTP)
6.2 7.6 4.78 4.83 3.32
Recycled water
(processed water)
81.8 80.60 82.75 79.31 77.08
Pct change
2025/2021 2025 2024 2023 2022 2021
Total operational
water per tonne ore
processed (m3/t)
1% 2.00 1.95 2.15 2.01 2.09
Total operational water used by source per tonne of ore processed (m3/t)
Surface water -37% 0.24 0.22 0.27 0.32 0.41
Mine site water
(rainwater treated
in WTP)
80% 0.12 0.14 0.10 0.10 0.07
Recycled water 7% 1.72 1.58 1.78 1.60 1.61
Total operational
water by source
per tonne ore
processed
1.72
recycled water
0,24
surface water
0,12 Mine water
(rainwater treated in WTP)
68
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Key initiatives
Search for alternative
water sources
Currently, we are awaiting official approval to
use water recycled at the Minas de Riotinto
municipal wastewater treatment plant after a
long and complex permitting process. If this
permit is approved, it would prevent treated
wastewater being discharged into the river. We
have applied for 500,000 m3, or about 10% of
total freshwater needed for ore processing.
Water quality
We carry out water quality control
checks both upstream and
downstream of the Riotinto mine,
conducting monthly sampling and reporting
back to the relevant regulatory authorities.
Maximising water efficiency
with tailings thickener
In 2022, Proyecto Riotinto installed a thickener
to separate some water from the tailings
before they are deposited in the TSF. That
water is then pumped back to the processing
plant and reused.
The result has been an improvement in
process efficiency and savings in terms of
surface water supplied by external sources
(freshwater). This recirculated water accounted
for more than 81% of the total required by
Atalaya to process ore in 2025.
Water treatment plant
To make sure water is used as efficiently as
possible, Riotinto has a treatment plant which
allows rainfall from within the mine site to
be re-conditioned for new use in industrial
applications.
In 2025 we had zero liquid discharge, meaning
we did not flush any water from our industrial
processes into nearby rivers or lakes. Although
we have had a discharge permit since Riotinto
started operating, we have never made use of it.
Ilmenitas landscape restoration
project (see “At a Glance” section)
69
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
As part of our commitment to
responsible water use across our
value chain, we continue working
towards the full implementation
of the Alliance for Water
Stewardship (AWS) Standard.
This is a globally recognised
framework that helps major water
users understand their impacts
and work collaboratively for
sustainable water management
at the catchment level. The
AWS Standard drives social,
environmental and economic
benefits by encouraging water
users to identify shared water
challenges, assess site-specific
risks and opportunities and
contribute positively to local water
governance.
Unlike tools such as the Water
Footprint Network, which focus on
quantifying water use at a site, the
AWS Standard adopts a broader
and, in our view, responsible and
beneficial approach. Following a
gap analysis completed in 2023,
we continued making substantial
progress in 2025, completing an
initial diagnosis and action plan
in line with AWS requirements.
The diagnosis confirmed a strong
operating performance, including
a fully quantified water balance,
high levels of water recycling,
zero liquid discharge operations
and effective monitoring of water
quality in line with regulatory
requirements.
Based on these findings, we have
drawn up a plan to focus on two
priority areas:
□ Strengthening internal water
governance
□ Boosting engagement with
catchment-level stakeholders
on shared water challenges
We have scheduled full
implementation of the action plan
for 2026, with AWS certification
targeted for the end of 2027.
Alliance for Water Stewardship (AWS)
8
The Water Footprint Network is a non-profit that
uses the water footprint concept to promote the
transition toward sustainable, fair and efficient use
of freshwater resources worldwide, see
https://www.waterfootprint.org/
Water footprint
calculationy
Every year we calculate
our water footprint across
Riotinto operations to
allow us to pinpoint
where the greatest water
consumption or quality
deterioration occurs and to
take action.
The footprint was verified
by an external accredited
company (EQA) following
the procedure set by the
Water Footprint Network8.
70
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Management of historical environmental liabilities at Proyecto Riotinto
Mining activity was restarted at
Proyecto Riotinto in 2015. However,
its centuries-long history entails
environmental responsibilities,
including the management of what
is known as “diffuse waters.” These
stem from acid rock drainage (ARD)
generated by previous mining activity.
When permits were approved, Proyecto
Riotinto pledged to implement
measures to reduce the effects of these
diffused waters on local rivers.
Since starting operations, Atalaya’s
environment department has
periodically monitored the drainage of
the entire historically altered surface
(12 control points in nearby rivers, with
samples collected every 15 days) and
has implemented several corrective
measures:
□ Construction of rainwater
collection channels, reducing
flow into the Odiel basin, as well
as improvements in how runoff is
directed
□ Closure of historic tunnels that
sent water into the surrounding
environment
□ Restoring old dumps (see
“’Ilmenitas’ mining waste dump
restoration”section below)
Researchers at the University of Huelva
been tracking how metallic load has
performed since 2015, with very positive
results: covering the period up to
2021, they concluded that our efforts
radically changed the catchment’s
hydrological performance, especially
after intense rainfall: diffuse water
drainage has fallen sharply since the
restart of mining activity.
71
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Key initiatives
We are currently collaborating
with the University of Huelva to
develop an innovative system for
water treatment called “Dispersed
Alkaline Substrate”. This is a
passive process that inputs
acidified water through several
reactive filters, producing a rise
in pH and the precipitation of
metals.
Building on earlier small-scale
trials designed to test whether
the approach could work, the
research focused on improving
the treatment system. We
examined how treatment
materials are arranged, how
efficiently dissolved iron is
oxidised and subsequently
precipitated into a solid form and
how long the water remains in
the system, known as hydraulic
residence time.
A series of laboratory-scale tests
showed that the technology can
successfully treat very acidic water
with high metal levels, typical of
water affected by historic mining
activity in the Riotinto area.
Further improvements introduced
in 2025 -especially better iron
oxidation before treatment and
longer water retention within
the system- led to a significant
increase in overall performance.
We are optimistic that this
research will allow us to recover
an even greater percentage of
acidified water, further improving
the quality of surrounding water
resources.
Research on passive water treatment
72
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Management of historical environmental liabilities at Proyecto Touro
The Touro mine was exploited for copper extraction from
the 1970s to final closure in 1987. Those operations left
waste piles and site structures that were not properly
rehabilitated, impacting the environment.
9
Research paper: “An ecological overview of the Brandelos, Lañas and Ulla rivers according
to their benthic invertebrate fauna and fish population,” by Dr. Rufino Vieira Lanero and Dr.
Xosé L. Otero Pére, University of Santiago de Compostela.
Atalaya, through its Cobre San Rafael unit, is working on a project
to reopen the Proyecto Touro mine, currently in permitting
phase, and solve the current problems. We are committed to
regenerating the environment and improving water quality in
the area, and have made the following improvements:
1. Construction of a channel to divert clean rainwater,
preventing it from coming into contact with existing
affected areas.
2. Construction of a water treatment plant (WTP) in
2022, with a €2 million investment.
The WTP currently works in a closed circuit inside the
mine, without discharging into natural watercourses,
and is controlled and monitored remotely. All parameters
requested by the competent water authority, Aguas de
Galicia, have already been met.
Since regeneration work began on improving water
quality in the Brandelos and Lañas rivers, the effects of
treating the water are very apparent, with flow into the
River Ulla in optimum conditions as corroborated by
external expert reports9.
3. Work to clean up the surrounding watercourses:
Rego Portapego, Rego Barral-Angumil, Rego Felisa, Rego
Pucheiras.
73
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Energy and climate change
Commitment to energy
and climate change
Addressing climate change remains
one of the greatest challenges for the
mining industry, requiring long-term
commitment, investment and a clear
strategic approach.
At Atalaya, we continue to
integrate climate considerations
into our business planning so we
can effectively manage risks and
opportunities across the short,
medium and long term. Our
Sustainability Policy reinforces
this ambition by committing us
to reduce greenhouse gas (GHG)
emissions through strong governance,
clear targets and well-established
performance indicators.
In 2025, we made meaningful progress
toward greater energy independence.
Phase 1 of our solar power plant at
Proyecto Riotinto reduced our reliance
on grid electricity, strengthening the
resilience of our operations.
Furthermore, we continued to
build energy efficiency across our
operations by optimising pumping,
ventilation and milling systems, as
well as by implementing an ISO
50001-aligned energy management
system to support continuous
improvement.
Oversight of climate strategy
continues to rest with our Board,
working through the Sustainability
Committee to set objectives and
monitor progress against our
climate and energy targets. We also
remain committed to transparent
communication, reporting in line with
the recommendations of the Task
Force on Climate-related Financial
Disclosures (TCFD) and staying
abreast of the most recent updates
from the International Sustainability
Standards Board’s climate change
disclosures (IFRS S2) which are still
in consultation phase. We remain
committed to improving the quality
of our disclosures as part of our
evolving climate strategy.
74
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Energy management approach
As a mining company, our operations require significant energy from
extraction and hauling to mineral processing. Improving energy
efficiency and increasing our self-sufficiency through renewable
sources are essential to reducing our environmental footprint and
strengthening our long-term resilience.
Each year we continue to meet our electricity efficiency targets,
and the table below summarises electricity usage per tonne of ore
processed:
Reported electricity consumption comes from our Spanish energy generation
mix as stated by our supplier. Proyecto Riotinto does not import other forms of
energy such as heat, steam or cooling, nor does it make any energy purchases
abroad.
In 2025 our energy intensity reduced due to the clean energy produced by the
new solar power plant.
Energy
electricity
intensity
2025 2024 2023 2022 2021
2025
objective
kWh/t ore
processed
2025 2024 2023 2022 2021
Total electricity
consumption
within the
organisation
kWh
Total diesel
consumption
within the
organisation from
non-renewable
sources
GJ
Total energy
consumption
(electricity +
diesel) within the
organisation
GJ
75
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Key initiatives
Energy
transition: our
solar power plant
Our solar power plant at
Riotinto started up at the
end of 2024 and continued
its phased introduction in
2025, with phase 1 now fully
operational. We expect to
install a further 14 MW to
our solar plant in 2026 and
thereby complete phase 2.
We are immensely proud
of this milestone in our
energy transition, marking
the first time a mine in
Spain has been powered in
this way.
The facility consists of
75,000 solar panels with
a total installed capacity
of 47.6 MW. Once fully
operational, the plant
will supply a significant
share of the mine’s energy
demand, reducing reliance
on grid electricity and
lowering our carbon
footprint.
Energy
management
We carry out regular energy
audits and implement
targeted efficiency measures
to ensure responsible energy
use. Recent actions include:
□ New metering points to
boost energy consumption
monitoring and improve
efficiency
□ Substitution of lower-
efficiency electric motors
with high-efficiency
models rated at least IE3–
IE4 (premium or super
efficiency)
In 2025, we implemented an
energy management system
at Proyecto Riotinto in line
with the international ISO
50001 standard. This provides
a structured framework for
continuous improvement
in energy performance and
upcoming audit findings
will further guide our
efficiency initiatives.
Promote
sustainable
mobility initiatives
Atalaya encourages
sustainable mobility with
eight electric vehicle
charging spaces installed
in 2024, which can be
expanded as required. The
chargers are powered via a
136 panel solar installation
in the car park itself
producing 90 kW. These
solar panels also provide
clean energy to offices and
laboratory.
We continue to study
optimisation alternatives
for the plant by integrating
BESS storage as well as
separate feasibility studies
on wind and hydro
power options.
76
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Calculation of our carbon footprint
We recognise our responsibility in the transition
to a low-carbon economy and remain committed
to transparently reporting our actions on climate
change, including the calculation, verification and
public disclosure of our greenhouse gas (GHG)
emissions.
Each year, we publish a comprehensive GHG
inventory for Proyecto Riotinto, covering Scope
1, Scope 2 and Scope 3 which is independently
verified to ensure accuracy and alignment with
best practice. At the time of publishing our 2025
Sustainability Report, emissions were estimated
using the most recent emissions data available
(2024). These figures will be subsequently reviewed
and slightly adjusted following third-party
verification in 2026. Our estimated calculation
confirms that Proyecto Riotinto generated 418,716
tCO₂e across Scope 1, 2 and 3 in 2025.
From 2019 to date, our GHG emissions inventory
calculation has been audited and verified by an
independent certifying entity (EQA). In addition,
the verified emissions data are formally registered
with the Spanish Ministry for Ecological Transition
and the Demographic Challenge, as well as with
the regional government.
Verified 2025 carbon footprint Verification and registration of our
annual GHG emissions inventory
77
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
To calculate 2025 emissions derived
from energy consumption, we
used our 2024 emissions factor
(0,275 KgCO₂e/Kwh), as at the time
of publication, the data had not
been released by the energy supply
company. Our 2025 report has the
confirmed 2024 carbon data.
Based on this calculation, there
was a 6% decrease in gross Scope
1 and 2 emissions versus the 2024
base year. GHG emissions intensity
also decreased compared with the
previous year, reflecting improved
operational efficiency.
Once at full capacity, the solar plant
will contribute 15% of clean energy
and reduce Scope 2 emissions. We
also expect the emissions factor
from the energy mix to continue to
improve year-on-year.
Within Scope 1 and 2, energy
consumption accounts for almost 94%
of indirect CO₂e emissions at Proyecto
Riotinto. The business has an electricity
contract with Endesa Energía S.A.U. and
the reported electricity consumption
comes from the Spanish energy
generation mix as stated by our supplier.
Scope 1 and 2 GHG
emissions (t CO2e)
2022 2023 2024 2025
102,955.27
102,423.47
105,076.44
99,29.77
Riotinto has estimated its carbon
footprint for 2025 using 2024
emissions factors and using GHG
protocol as a reference. Direct GHG
emissions are quantified for CO₂, CH4,
N₂O, NF3, SF6 and other appropriate
GHG groups (HFCs, PFCs, etc.) in
tonnes of CO₂e.
Estimated 2025 carbon footprint
Units 2025 2024 2023 2022 2021
Scope 1
(direct emissions)
10
t of CO2e
Gross direct
(Scope 1) GHG emissions
t of CO2e
Scope 2 (energy
indirect emissions)
t of CO2e
Gross market-based
energy indirect
(Scope 2) GHG emissions
t of CO2e
Total GHG Emissions
(Scope 1 and 2)
t of CO2e
99,292 105,076 102,423 102,955 96,163
GHG Intensity
(Scope 1 + Scope 2)
t of CO2e per
Kt of annual
production
10
Includes: HFC fugitive emissions, fixed and mobile combustion and organic matter degradation.
78
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
For Proyecto Riotinto, Atalaya reports activities within this Scope where it has reliable information: The data shows a 25% increase in
Scope 3 emissions in 2025 versus the
2022 base year. This is mainly due to
the increase in material movement at
the mine to obtain the ore required
for processing, the increase in the
consumption of goods and services
needed for ore treatment, such as
reagents (lime, explosives, etc.) and
the increase in the processing of the
product sold.
The yet-to-be-verified data for 2025
shows an increase in total Scope 3
emissions by 2% from last year, mainly
due to the increase in ore produced in
2025 compared to 2024.
However, there was a maintaining in
Scope 3 intensity figures compared to
last year reflecting improvements in
operational efficiencies.
Scope 3 Disclosure
2025
11
2024 2023 2022
Scope 3 (other
indirect emissions)
t of CO2e % t of CO2e % t of CO2e % t of CO2e %
Purchased goods
and services
12
201,328.76
63.03
197,792.46
68.86
142,021.54
58.49
163,701.61
63.89
Upstream transportation
and distribution
82,745.82
25.90
83,461.10
22.39
69,886.08
28.78
61,754.95
24.10
Waste generated
in operations
535.26
0.17
567.12
0.17
618.12
0.25
524.30
0.20
Employee commuting 1,244.20
0.39
1,236.70
0.35
1,254.96
0.52
1,129.85
0.44
Downstream
transportation and
distribution
2,339.70
0.62
2,096.00
0.59
2,355.66
0.97
2,402.97
0.94
Processing of
sold products
31,599.45
9.89
26,729.49
7.63
26,677.35
10.99
26,701.10
10.42
Total Scope 3 GHG
emissions
11
Our 2025 carbon footprint is an estimate using 2024 emission factors as the data is not ready at the time of publication. Our 2026 report will use
2025 final data.
12
Includes: Third-party water, chemicals and explosives consumption for mining activities.
Units 2025 2024 2023 2022 2021
GHG Intensity
(Scope 3)
t of CO2e per Kt to
annual production
GHG Intensity
(Scope 1, 2 and 3)
t of CO2e per Kt to
annual production
1.40 1.65 1.38 1.56 1.42
79
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
In 2025, indirect GHG emissions
in the “purchased and services”
category represent 63% of total
emissions, with the most significant
increase due to the consumption
of reagents. These emissions are
generated in the ore production
process, as well as the consumption
of explosives in the mine and the
use of lime for water treatment.
The “transportation and
distribution” category corresponds
to transport in mining operations
carried out by the different
contractors and is also relevant,
accounting for 25.9% of total
GHG emissions. This is due to the
increase in earthworks at San
Dionisio, carried out with heavy
diesel-fuelled machinery.
Upstream categories
Breakdown of Scope 3 GHG emissions 2025
■
Purchased goods and services 63%
■
Upstream transportation and distribution 26%
■
Processing of sold products 10%
■
Downstream transportation and distribution 1%
■
Waste generated in operations 0%
■
Employee commuting 0%
63%
26%
10%
1%
0%
0%
The downstream categories
correspond to the transport of
concentrate to port and indirect
emissions from the processing of the
product sold. The latter represents
9.9% of total downstream emissions
with no major variations from
previous years.
Downstream categories
80
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Our climate change targets
At Atalaya we fully support the
Paris Climate Agreement goals and
the Taskforce on Climate-related
Financial Disclosures, recognising our
responsibility to contribute to a low-
carbon economy.
As a European copper producer,
we are focused on reducing
greenhouse emissions linked to
energy consumption while improving
efficiency and increasing the use
of clean power sources across our
operations.
In 2023, we established Scope 1 and
Scope 2 GHG emission reduction
targets for Proyecto Riotinto, our only
operating asset at that time. Those
targets were defined using 2022 as
the base year and were expressed
as absolute reductions in emissions
associated with copper concentrate
production.
Following the phased commissioning
of the 50 MW on-site solar power
plant and reflecting updated technical
and operational considerations, we
revised our short-term climate targets
in 2025 to ensure they remained
achievable and aligned with the actual
deployment schedule of renewable
energy infrastructure.
2025 Climate Change Report
For Proyecto Riotinto, Atalaya has set the following absolute emission
reduction targets relative to the 2022 base year:
These targets reflect the progressive contribution of the solar plant, which is
expected to reach full capacity during 2026. Once fully operational, it is expected
to fulfil approximately 15% of the mine’s total electricity demand, significantly
reducing Scope 2 emissions and exposure to electricity market volatility.
We will achieve further improvements from 2027 by consolidating our
renewable electricity supply and improving energy efficiency across mining
operations, optimising energy-intensive processes and assessing and
incorporating emerging technologies.
Revised short-term targets (Scope 1 and Scope 2)
15%
reduction
by 2025
25%
reduction
by 2027
30%
reduction
by 2030
81
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Circular economy and efficient resources
Commitment
to efficient
resource use
Management approach
Beyond the waste generated
through mining activities, our
operations also produce other
hazardous and non-hazardous
materials that require careful
handling and responsible
management. Waste minimisation
and reuse are key pillars of Atalaya’s
circular economy approach, aligned
with the “3Rs” principle-Reduce,
Reuse and Recycle. In line with
Spanish regulatory requirements,
we submitted a four-year waste
minimisation plan in May 2022,
guiding implementation through
to 2026.
Our non-mining waste reduction
plan sets clear objectives to:
□ Reduce industrial waste
generation by 2% per year per
tonne of concentrate produced.
□ Maximise recycling rates for both
hazardous and non-hazardous
materials.
Our non-mining waste reduction
plan, which runs until 2026, is
reviewed annually to set priority
waste reduction targets based on
type and quantities generated.
In 2025, we continued to focus on
prevention at source, improved
segregation and increased recovery
of non-hazardous waste streams.
As the plan enters its final phase, we
are prioritising the consolidation of
waste reduction measures into routine
operational practices, supported by
annual performance reviews and
continuous improvement initiatives.
We have placed particular emphasis
on strengthening waste segregation
at source, enhancing internal reuse
opportunities and reinforcing waste
management requirements for
contractors operating on site.
At the same time, Atalaya has
begun evaluating the outcomes of
the current plan to enable waste
minimisation beyond 2026, ensuring
that circular economy principles
remain embedded for the long term.
Investments made in recent years
to improve waste management and
digitise waste tracking continue to
improve control, traceability and
reporting.
We keep a close eye on the
environmental performance of our
contractors, reinforcing expectations
around waste segregation, storage
and compliance. This supports
consistent standards across the
value chain and contributes to
improved performance beyond
Atalaya’s direct operations.
82
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
In addition, Proyecto Riotinto
continues to provide waste
management training on an annual
basis for both employees and
contractors, updating information
as needed.
We continue to work on
improvements to our protocol for
the reuse of non-hazardous waste
among employees, including the use
of paper and cardboard packaging,
plastic containers and more. We have
also installed facilities to help recycle
waste like household electronics and
batteries, making it easier for workers
to contribute.
Units 2025 2024 2023 2022 2021
Materials used
Total of materials that are used to produce and package the organisation’s primary products and
services
Renewable t 16,630,699 16,025,738 15,907,894 15,614,946 15,938,933
Non-renewable t 0 0 0 0 0
Principal consumables
126,384 125,738 117,796 125,675 116,323
Chemical products 110,723 108,648 98,321 105,744 97,449
Steel (balls) t 15,661 17,090 19,475 19,931 18,875
Total non-mining
waste generation
13
Hazardous
t 199 251 163 186 218
Waste disposed (landfill) t 38 104 39 41 70
Waste diverted from
disposal (waste recycled)
t 161 1 47 124 145 148
Non-hazardous
2,325 3,570 3,057 3,301 4,002
Waste disposed (landfill) t 1 1 - 308 481
Waste diverted from
disposal (waste recycled)
t 2,324 3,570 3,057 2,994 3,521
13
Non-hazardous waste is mainly domestic waste, wooden packaging, paper, cardboard and plastics. Hazardous
waste is comprised of used oils, organic solvents, contaminated packaging, laboratory reagents, aerosols, paint and
varnish waste, batteries, light bulbs, contaminated soils and others.
In 2025, there was a
significant reduction
in non-mining waste
production compared
to the previous year,
of more than
30%
83
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Air quality and noise
Commitment
to improved
air and noise
quality
Management approach
Mining activities can generate
airborne particles and dust, both
within the site and in surrounding
areas. Operations such as blasting,
drilling, truck movement, crushing
and handling of fine materials
contribute to diffuse emissions.
This work also produces noise and
vibrations that we must monitor
consistently to ensure compliance
with legal limits.
Maintaining effective air quality
and noise controls is essential
for protecting the environment
and supporting our reputation
as a good neighbour within our
community. We monitor our own
activities every three months,
meeting regulatory requirements
regarding noise levels and
potential disturbance.
Air quality, emissions and noise are
managed through an Environmental
Monitoring Plan (EMP) approved
in 2025 and fulfilling our permit
requirements under Spanish law.
This is a structured system to
identify, prevent, monitor and report
on both point-source and diffuse
atmospheric emissions, as well as
noise and vibration levels, covering
operational areas, the site perimeter
and nearby towns.
Monitoring aims to protect sensitive
receptors and ensure early detection
of any potential deviation from
regulatory limits in nearby residential
communities.
We monitor airborne emissions
through internal and external
controls, including:
□ Regular monitoring of single-point
dust emissions from authorised
points, supported by filtration
systems. Dust from open areas is
monitored regularly, with in-house
checks carried out monthly and
independent testing conducted
annually to measure both airborne
particles and dust that settles on
surfaces
□ A permanent air-quality monitoring
system in surrounding communities
that regularly measures fine dust
and the metals carried within it.
Samples are taken more often
than the law requires
84
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Noise and vibration have a special
EMP which includes:
□ Preventive equipment design
and maintenance, supported
by an initial noise study after
major events, regular twice-yearly
monitoring and checks at site
boundaries and nearby homes
at different times of the day
and night. Results are reported
to authorities and any issues
addressed through defined
corrective actions
Proyecto Riotinto has a predictive
modelling system which allows early
detection and control of atmospheric
emissions using state-of-the-art
technology. This provides advance
forecast of weather conditions in the
area and assesses the potential impact
on air quality.
It allows strategic planning, for
example, reinforcing safety measures
in specific areas or reconsidering the
areas where we work when specific
conditions occur.
Furthermore, specific activity
requires special planning.
Blasting, for example, presents
particular challenges because it
is intermittent. We address this
with defined operating procedures
and consideration of site-specific
and meteorological conditions.
These same activities also produce
noise and vibrations that must be
continuously monitored to ensure
compliance within legal limits.
Atalaya strives to prevent and
minimise impacts on air quality
and noise by rigorous monitoring
to improve performance over time.
Maintaining effective air and noise
management systems is essential not
only for environmental protection,
but also for forging and maintaining
good links with nearby communities.
At Proyecto Riotinto, we carry out
biannual self-monitoring in line with
applicable regulations to track noise
levels, verify compliance and minimise
any potential disturbance.
Key initiatives
Monitoring air quality with the University of Huelva
In a project which ran from 2016 to 2025, Atalaya collaborated with the
University of Huelva (UHU) to build and operate a comprehensive air
quality monitoring network in the towns neighbouring Proyecto Riotinto
including Minas de Riotinto, Nerva and La Dehesa. This network provided
quasi-continuous, high-resolution data on atmospheric particles and
associated metals as well as meteorological parameters such as wind
speed and direction. The data gathered allow us to identify and analyse
potential links between mining activities and local air quality conditions.
In 2024, we improved the quality of monitoring by incorporating
advanced analytic technologies, including: an X-ray fluorescence
analyser capable of measuring up to 30 metals in PM₁₀ on an hourly
basis; an ultrafine particle analyser (<0.1 μm), and an aethalometer
providing real-time measurements of black carbon.
The X-ray analyser operated continuously throughout 2025, generating
a full year of high-resolution data that will provide a more robust
understanding of different emissions to local air quality. We believe these
capabilities position the monitoring programme amongst the most
advanced in the mining sector.
85
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Nature and biodiversity
Commitment
to improved
air and noise
quality
Management approach
At Atalaya, we recognise that
mining activities can impact
biodiversity, particularly where
protected species and sensitive
habitats are concerned. Our
Sustainability Policy reflects
our commitment to respecting
nature wherever we operate
and we aim to generate
positive environmental and
social outcomes through the
careful design of our projects,
supported by robust governance
and risk management systems.
By minimising the risk of
environmental degradation
and responsibly managing the
ecosystems around us, we strive to
preserve natural balance for future
generations, long after our mining
operations have closed.
All exploration and operational
activities follow applicable
environmental regulations, and
progressive rehabilitation is
undertaken at all operational sites,
including our active mine at Proyecto
Riotinto. Disturbed areas are restored
as activities advance and following
closure of mining phases.
At Proyecto Riotinto, biodiversity
management focuses on the
conservation of protected and priority
species as the following examples
show:
□ A protected plant species
(Erica andevalensis): heather
endemic to the province of Huelva
□ A bat (chiropteran)
conservation project: Riotinto is
actively developing a bat habitat.
To ensure the conservation of these
species, Proyecto Riotinto has taken
the following action ➤
Bats
□ Direct censuses: this
consists of access to
their caves and roosts
(which include old
mine workings) and
observation of the
presence of different
species.
□ Indirect surveys: by
installing different types
of equipment for video
and audio recording
outside the selected
caves/habitats
□ Annual descriptive report
on bat management
The population of bats is
steadily increasing from
a hundred specimens
identified in 2015, when
mining activity began, to
433 specimens in 2025 (vs
292 in 2020). They are mainly
common long-eared bats,
that is, Plecotus austriacus,
although we also have
Rhinolophus hipposideros
and Eptesicus isabellinus.
86
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Erica
andevalensis
Transplanting part of
the populations affected
by the mining works:
the Erica andevalensis
management plan involves
relocating individual plants
disturbed during mining
activity. Although we are
officially mandated to
keep to a minimum of 25%
transplanted individual
plants, the project has
consistently exceeded this
requirement since its start,
averaging over 32%.
□ Monitoring of the status
of individual plants once
transplanted
□ Growing Erica
andevalensis in the
Riotinto mine nursery
□ Signposting populations
that should be protected
from mining works
More data can be found
in the “Sustainability
Data” Annex.
Key initiatives
Bat refuge
We have relandscaped an area to
create a specialized bat refuge,
building a dedicated gallery and
making sure the interior and exterior
environments are optimised for the
species’ habitat needs.
Specific techniques were used
to ensure stability, durability and
suitability for that purpose and
we used innovative materials and
designs to regulate environmental
conditions like temperature,
humidity and airflow while
preventing intrusion from other
animals.
Conservation experts took part in
the project to align construction
with ecological goals, ensuring
the space effectively supports the
bats’ wellbeing.
Collaborating to
monitor soil health
We are working in partnership
with the Spanish National
Research Council CSIC through
its Institute of Natural Resources
and Agrobiology of Seville
(IRNAS), as part of the EU-
funded EDAPHOS project.
The collaboration focuses on
the application of nature-based
solutions (NBS) to address soil
quality challenges and restore
soil functionality in areas affected
by historical mining activities.
In 2025, the project moved from
small trials to a full field test
under real operating conditions
at Proyecto Riotinto. The aim is
to see whether growing selected
plant combinations can improve
soil damaged by past mining,
using the same testing method
applied at all EDAPHOS sites.
Researchers set up the trial
on a 500 m² area of affected
land. They mixed the soil with
compost made from treated
organic waste (to improve
structure and nutrients) and
sugar lime (to reduce acidity).
The site was divided into 33 plots,
including planted areas and
unplanted control plots. Two
poplar tree types were planted
alongside companion plants
to compare different growing
combinations.
The team now tracks plant
growth, plant health, metal
uptake and changes in soil
quality. The trial will run for two
more years to test whether plant-
based soil restoration can work
at a larger scale and support
long-term land rehabilitation
after mining. With this work we
hope to contribute to building
practical strategies which help
remediate land restoration
after mining and are globally
applicable.
87
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Environmental restoration plan
As we take steps to
prepare for the end
of the mine’s life,
action to restore and
rehabilitate the natural
environment around
our operations is
essential.
This means focusing on preventing soil
erosion, conserving ecosystems and
maintaining biodiversity during the
life cycle of the mine. By ensuring we
natural resources and cultural legacy,
we are committing to the area’s future,
mitigating the risk of environmental
damage and contributing to long-
term sustainability.
We update our Riotinto
Environmental Restoration Plan
every five years, subject to a public
information process in which all
interested parties can express their
opinion.
The plan, first drawn up in 2015, was
designed to:
□ Integrate newly landscaped areas
into the surrounding environment
while preserving the cultural
significance of the region’s
distinctive characteristics
□ Maintain water quality in the
restored areas
□ Ensure safety and long-term
stability of remaining structures
□ Encourage beneficial end-use of
the land, contributing positively to
local socioeconomics
The plan sets out the progressive
rehabilitation of the entire area
affected by Proyecto Riotinto
including the tailings storage facility,
waste rock dumps, dismantling, etc.
and covers the entire life cycle of the
mine, including the abandonment of
the site.
The latest iteration plans to reshape
surfaces so they blend in with the
surrounding landscape, providing
both structural stability and
environmental continuity. It also
includes provisions for sealing or
capping modified surfaces, possibly
with shale produced on site, to
reduce exposure of accumulated
materials to air and water and
thereby preventing acid rock
drainage.
For the closure and capping of
the tailings dam, the restoration
project recommends advanced
techniques such as geomembranes
and geotextiles. It also sets out a
comprehensive water monitoring
network for the remaining structures,
guaranteeing water quality for the
surrounding area. The plan also
includes the rehabilitation of non-
operational areas from previous
mining projects which are not the
result of Atalaya’s activity.
For more information on our
2025 restoration work see section
“Spotlight: Back to Nature-A Model
for Post-Mining Restoration”.
88
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Responsible mining waste and tailings management
Commitment
to responsible
tailings
management
Management approach
One of our greatest responsibilities
is safe management of our tailings
facility, and we are proud to have
made great strides in the past
few years. Furthermore, safety is
underpinned by robust legislation on
mining waste management in Spain,
where our operating mining projects
are based.
Nevertheless, because of the inherent
risk to the environment and nearby
populations in managing mining
waste, our safety and monitoring
measures go far beyond what is
required by law, with the ultimate goal
of zero harm.
We published our first Global
Standard on Tailings Management for
the Mining Industry (GISTM Report
2025) report last year, overseen by the
Sustainability Committee.
At Proyecto Riotinto, our only active
mine, we have a Major Accident
Prevention Policy, endorsed by
top management, to promote the
highest levels of safety.
We produce two main types of
mining waste:
□ Waste rock: generated when
extracting ore from the open
pit; deposited in a waste dump
□ Tailings: leftover crushed rock,
water and fine waste materials
produced while processing ore
to separate out valuable metals
We have been able to use this
waste rock for building in other
parts of the mining project
by applying circular economy
principles, such as in the building
of our solar power plant and in
the landscape rehabilitation at
Ilmenitas.
In total, in 2025 23% of waste rock
generated in the mine was reused
within the project.
2025 TOTAL WASTE
ROCK (tonnes)
Waste rock reused to
reinforce the TSF
3,821,555 m3
(10,781,162 tonnes)
Waste rock reused in the
solar plant and restoration
activities
561,783 m3
(1,584,871 tonnes)
Waste rock disposed
in waste dump
14,516,995 m3
(40,954,551 tonnes)
89
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
When we extract valuable minerals
such as copper, we generate waste
materials when the ore is crushed
and ground into tiny particles. The
leftover materials are separated and
referred to as “tailings”. These are then
pumped through a thickener to reach
more than 50% solids by weight. The
recovered water in the thickener is
sent back to the treatment process,
and the thickened tailings are
pumped and deposited in the Tailings
Storage Facility (TSF).
Proyecto Riotinto’s Major Accident
Prevention Policy serves as the basis
for the safety management system
implemented by the Company.
The general manager of Proyecto
Riotinto is ultimately responsible for
TSF safety, reporting directly to the
Board and the CEO.
Reporting to him are the head of
mine and technical services, also
responsible for the construction of
the dam, and the Director of Security
who is responsible for monitoring,
oversight and official reporting on
TSF safety. These two have technical
teams including a specialised
engineer, and manage the facility on
a day-to-day basis, communicating
regularly with the general manager
and meeting weekly.
We are currently working to align
our governance to Global Industry
Standard on Tailings Management
(GISTM) requirements.
To manage tailings facilities safely and
comprehensively, we have applied the
best surveillance techniques available
in our industry in a project called
“Minerva”, which monitors the physical
mining structures at Proyecto Riotinto
(pits, dumps and TSF) continuously in
real time.
Thanks to this, Atalaya is now considered
a benchmark for good practice in
advanced monitoring technologies for
safety and sustainability, using a system
of alerts and alarms for any deviation
from established safety thresholds.
We started to develop Minerva in
2021 and we have now completed
almost 90% of the installation. All the
instrumentation planned has now been
integrated into the multi hyphen early-
warning GeoMonitoring HUB software.
This year, to continue improving
monitoring the structural health of
our facilities, we are researching new
algorithms together with IDS, part of
Hexagon and a technology company
specialised in radar-based monitoring.
From 2020 to end-2025, Atalaya
invested €4 million in the Minerva
#Smartgeocontrol project.
Tailings management
TSF governanceTSF surveillance: Minerva
#Smartgeocontrol
Riotinto’s TSF covers an area of 501
Ha and consists of three sections
(Gossan, Cobre and Aguzadera). The
“Cobre” and “Aguzadera” sections
are those currently active as tailings
deposits.
The TSF was upgraded again in 2025
with the best available surveillance
techniques and industry standards,
including the installation of new
radars. These are reviewed by
independent international and
national bodies, including the
Geological and Mining Institute of
Spain, the Higher Technical School of
Mining Engineers and Knight Piesold
Consulting.
Tailings storage facility
(TSF) at Proyecto Riotinto
More details on the TSF
in our GISTM Report 2025.
90
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Our TSFs are inspected regularly by
external, independent and qualified
personnel. Every month inspections
agency APPLUS carries out exhaustive
monitoring of the control and
geotechnical surveillance of the TSF.
The results are included in a quarterly
report issued by them and sent to
the regional administration, verifying
progress.
All 2025 APPLUS reports were positive.
Furthermore, the Andalusian regional
government created an expert
commission in 2023 to monitor the
safety of waste facilities at large
mining projects. This commission will
review the safety of the Riotinto TSF
within the Scope of its competences,
although our TSF has yet to be
assessed.
In 2025, we oversaw the full
implementation of the Company’s
tailings safety governance framework.
We ensured regular review of
monitoring data, confirmed that all
actions from internal and external
inspections were addressed, and
verified that operational procedures
complied with all regulatory and
corporate standards.
The teams also carried out routine
stability assessments, supervised
the installation of new monitoring
technologies and ensured that the TSF
operated within all permitted safety
parameters throughout the year.
External inspections
Stone is another research project
within Minerva, developed as a
consortium with Spain’s prestigious
scientific research and technological
development agency CSIC (Centro
Superior de Investigaciones
Científicas). We are investigating
how to apply three state-of-the-art
techniques to our monitoring initiative:
1. INSAR (Interferometric Synthetic
Aperture Radar) technology:
monitoring what is happening on
the surface of the TSF by analysing
satellite images, in this case, taken
by Copernicus. This satellite takes
one image of the TSF every six
days, and any anomaly can be
detected and tracked.
2. Ambient noise: this involves
eliminating all external noise from
the structure, caused by trucks,
mine drills, etc., to study only the
noise of the TSF and monitor it.
Changes in noise can indicate
anomalies in the structure.
3. Geopotential fields: this
technique seeks out changes in
the subsoil, at depth. By detecting
anomalies there, we can forecast
consequences at the surface.
When ready, the results of these Stone
techniques will be incorporated into
the Minerva hub.
Project Stone
91
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
We ensure safe tailings management
through Minerva, a real-time
monitoring system that applies
advanced industry surveillance to all
major mining structures at Proyecto
Riotinto.
We use several systems that work
together to detect any changes in
the structure. Sensors and prisms
placed on the embankments are
checked every hour by a remote
measuring device to spot even
the smallest movement. A ground
radar adds another layer of control
by scanning the walls every two
minutes and tracking any slower
changes over time. Inside the walls,
instruments measure water pressure,
levels and internal shifts. All this
information is brought together in the
Geomonitoring Hub, where a team
of specialists watches the data in real
time, ensuring the facility remains
stable and safe.
Monitoring TSF safety with Minerva
We have committed to
align with the GISTM by the
end of 2026. The standard
was the product of the
Global Tailings Review,
co-convened by the United
Nations Environment
Programme (UNEP),
Principles for Responsible
Investment (UNPRI), and
the International Council on
Mining and Metals (ICMM).
We are adapting our
internal governance systems
according to the standard
and overseen by the
Sustainability Committee.
In 2025 we published our
first GISTM Report.
Global Industry
Standard on Tailings
Management
(GISTM)
SATELLITE
TOTAL
STATIONGBSAR
TAILINGS WALL
MINERVA #smartgeocontrol R+D+i PROJECT
STONE (RESEARCH)
Insar
Ambient Noise
Geopotential Fields
GEOTECHNICS (Deep)
Inclinometers
Open Piezometers
Closed Piezometers
GEODESY (Surface)
Prisms
Signal to MONITORING ROOM
Colombia-IDS (24/7)
TOTAL
STATION
Remote
Control Prisms
GBSAR
Surface Control
Line of Sight
GEOMONITORING HUB Alarms + Alerts 24/365
Inclinometers
Open Piezometers
Closed Piezometers
Prism
92
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Our environmental
commitment
Water management
Energy and climate
change
Circular economy and
efficient resources
Air quality and noise
Nature and biodiversity
Environmental
restoration plan
Responsible mining
waste and tailings
management
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Goals 2026
□ Expand “Mine Crush”
schools awareness
programme to other towns
□ Prepare plan to diversify
the local economy with the
help of local stakeholders
□ Seek local collaborations
on reforestation projects
to increase environmental
awareness
We have continued
to strengthen
communication
with stakeholders
by listening to
feedback and
sharing our efforts to
operate sustainably,
in a continued
effort to improve
the wellbeing
of employees,
contractors, local
communities and
society at large.
The communities around us
count on Atalaya’s activities
to keep offering opportunities
for development: much of our
workforce come from nearby
towns and our activities are high
contributors to local economy and
prosperity. Because of this, we see
ourselves not only as operators
but also as long-term partners
that play a central role in the
Milestones 2025
Design and planning approval
completed for new Corta
Atalaya viewpoint
Schools’ awareness programme
“Mine Crush” in full swing
Public perception in the local
community survey results
At the heart of our communities
region’s environmental, social and
economic future.
Mining reshapes the landscape,
which entails a responsibility to serve
and protect those living nearby.
These relationships are also rooted
in history and culture. The Riotinto
mine, for instance, has been operated
intermittently since before the
Phoenicians and remains an integral
part of the Huelva region’s identity.
Given this pivotal role in the
community, trust is central. As we
grow, we seek to expand operations
sustainably while maintaining open
dialogue with our neighbours. At
Riotinto, we engage through the
Atalaya Riotinto Foundation, while
in Touro we collaborate via the
TERRAS programme (an acronym in
Spanish for Transparency, Ethics, and
Genuine Environmental and Social
Responsibility).
Guiding this work, Atalaya has
a dedicated Board-approved
Community Relations Policy which
sets out our commitments to
responsible community engagement.
This includes a monthly oversight of
community relations issues by the
executive leadership.
94
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local
Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Community engagement approach
Riotinto Mine (Huelva, Spain)
At Atalaya we strive to create
greater value for society beyond
our business goals by aligning
them with social expectations
and needs. To do this, we actively
Fundación Atalaya Riotinto
(Atalaya Riotinto Foundation)
The Atalaya Riotinto Foundation is a
non-profit organisation with its own
Board of trustees which promotes
local social investment initiatives.
It works hand-in-hand with town
councils in the Riotinto region, that
is, Minas de Riotinto, Nerva, Berrocal,
Campofrío, organisation, El Campillo
and Zalamea la Real.
It fosters local development by
providing initiatives and resources
for infrastructure, education, culture,
social welfare, environmental
conservation, employment and
economic diversification and
is aligned with United Nations
Sustainable Development Goals.
In 2025, the Foundation invested
€812,000 to benefit the local
community in the following manners:
□ Promoting and developing cultural
and artistic activities
□ Encouraging employment through
training programmes for local
residents with specific challenges.
□ Implementing educational events
for local residents, as well as
promoting research, development
and innovation. We held a series
of talks at secondary schools and
collaborated with Huelva University
in several events in 2025 to raise
awareness about sustainable
mining
□ Promoting respect and care for
nature via specific programmes,
including bush clearings for
wildfire prevention
□ Fostering local development
strategies, diversification
initiatives, and infrastructure,
enhancing quality of life for the
local population and supporting
corporate social responsibility
support and develop initiatives
that foster long-term prosperity
and provide opportunities for local
residents to share in the benefits
of our business.
95
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local
Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
The Foundation’s Annual Report
provides detailed insight into its
activities for stakeholders (Link).
One of the Foundation’s most
important tasks is to sponsor and
support educational initiatives. The
“Mining Facilities Operator” course –
now in its fifth edition and run by the
Atalaya Foundation – continues to
create training and job opportunities
for unemployed residents across
the Riotinto mining basin. This year,
20 participants with the required
educational background (work
experience or high school education)
completed a programme comprising
300 hours of technical theory, 200
hours of practical training and an
additional 20 hours focused on
employability skills. This edition
achieved a job placement rate of
around 60%, exceeding the previous
year’s by 10%.
Atalaya is also committed to helping
the region’s future beyond mining.
Our aim is to support the creation of
new sources of income so that the
community subsists when mining
activity is no longer the main driver
of the local economy.
Tourism is a natural opportunity. The
area’s rich heritage and landscapes
offer enormous potential for
sustainable growth.
We work in close partnership
with the Río Tinto Foundation,
an independent non-profit led
by respected local leaders. The
Foundation has already built a
successful tourism programme
based on mining heritage and last
year, in collaboration with Atalaya,
launched the Riotinto Experience
(see section below).
96
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local
Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Keeping in touch with stakeholders
At Riotinto, our only
operating mine, we
are methodical in
keeping up with
stakeholder needs and
feedback with regular
communication,
and our formal
communication
approach is audited
internally and
externally and
published on our
internal management
system.
Requests, complaints and opinions
are processed by our staff following
our communication procedure and
formal responses must be issued
within a 20 period.
In 2025, we received 10 submissions,
one was an internal suggestion, four
were requests from the authorities
and the rest were complaints or
queries by the public.
One example was the complaint
filed by a local resident about his car
being damaged by rocks reportedly
coming from our mining operations
while driving on the nearby A461
road. After a full investigation of
the circumstances, the Company
gave a formal response to the claim
attesting the lack of connection of
the incident with Atalaya’s activities.
Atalaya’s staff has taken part in
dozens of public events including
training, technical, industry,
business and institutional meetings.
This has provided the opportunity
to share information about our
activities with different stakeholder
groups.
We have also built our social media
presence (Facebook, Instagram,
Twitter, TikTok, YouTube and
LinkedIn) with greater engagement
levels than in the previous year:
+30%
followers
+169%
impressions
+19%
interactions
+40%
publications
97
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local
Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Key initiatives
Viewpoint at
Corta Atalaya
under way
“Mine Crush”:
Educating
youth about
our industry
Public
perception
survey 2025
As a contribution
to local diversification, we work
to enhance the landscape
and improve the appeal of
the region. With this aim, we
are planning a new viewpoint
at Corta Atalaya. This scenic
lookout will serve as an
exceptional location from which
to experience the past, present
and future of mining at its most
emblematic icon.
The project has now completed
its design phase and has
secured both urban planning
and heritage approval, located as
it is within a designated Cultural
Heritage Site. We have also
started the tender process to
select a construction company.
In parallel, we are working on
a funding package including
a European “LEADER” grant
aimed at encouraging
local involvement in rural
development projects.
Mine Crush is an educational
initiative designed to spark
secondary students’ interest
in mining and related careers.
Selected young Atalaya team
members go to several local high
schools and spend time with
pupils, explaining how attractive
being part of such a dynamic
work environment can be. They
focus on their personal story,
describing their journey until
finding themselves at the heart of
a real mining project, with all of its
challenges and wonders. They also
play electronic quiz games with
the pupils to foster their curiosity
and interest.
We visited three secondary schools
in the local area, talking to around
70 pupils aged 14-15, around the
time they need to decide on their
future work or study options.
Overall, the response has been very
positive from both teachers and
students, with strong participation.
We commissioned a public
perception survey in 2025
via 200 phone interviews,
using questionnaires
presented to a balanced
cross-section of society in
the surrounding towns.
The results paint a positive
image of Atalaya Mining,
particularly on topics
like safety, technological
innovation and job creation
as well as economic
progress.
However, the findings
also showed paths to
improvement, in areas
such as transparency,
communications and
environmental performance,
as well as revealing limited
public awareness of the
Atalaya Foundation’s
activities. All these points
will be subject of analysis
and further deployment of
initiatives to tackle the issues.
98
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local
Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Other local community projects
We continue with our collaboration
agreements with the seven towns
that make up the Riotinto Mining
Basin: Minas de Riotinto, Nerva, El
Campillo, Campofrío, Zalamea La Real,
Berrocal and La Granada de Riotinto.
The agreements provide funding for
specific projects that benefit residents,
spanning public infrastructure,
education, culture, sports and support
for vulnerable people.
In 2025, our investments included:
refurbishment of the municipal
stadium and several municipal
buildings at Minas de Riotinto;
equipment for the rhythmic
gymnastics school; resurfacing of
several streets; a street-sweeping
vehicle to El Campillo, and
refurbishment of town square
at Campofrío; in Zalamea, street
furniture, a children’s play area
and a vehicle for the public works
department; in Berrocal, the building
of a planetarium to boost tourism;
and in Nerva, building improvements
for the town’s primary school.
Also through the Atalaya Foundation,
the Company supported numerous
local organisations dedicated to
social inclusion, culture and sports,
including community associations,
cultural centres, music and adult
education schools, as well as a
wide range of local sports clubs.
Supporting activities include:
□ the acquisition of an adapted
vehicle for the Alzheimer and
dementia association,
□ improvement of Athenea
Foundation workshops, where they
support impaired people,
□ sponsoring the publication of
several books by local authors,
□ supporting “No kids without
Christmas presents”,
□ supporting a programme by Unidos
Por el Alto, an association focused
on helping disadvantaged kids,
□ sponsoring various “Buy Local”
campaigns,
□ supporting a documentary,
□ supporting artistic activities
including a music prize with
Nerva’s state music school, a local
flamenco guitar school and a
project to investigate the legacy of
musician Maestro Rojas.
99
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local
Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
“Riotinto Experience”
“Riotinto Experience” is a
specially curated tour designed
to show how modern mining
works, supported by the Atalaya
Foundation in collaboration
with Río Tinto Foundation.
The project has included
the purchase of a 4x4 bus,
building of exclusive paths
and viewpoints inside the
operational areas of the mine
and a revamped visitors’ centre.
The tour, promoted through
the media, explores modern
Being able to discover such a breathtaking
landscape, the massive vehicles driving
around you and the fun explanation of
how a sustainable mining operation works
is just a fantastic experience.
LUIS LARA
(Jerez de la Frontera).
mining operations, emphasising
safety, innovation, respect for
the environment and copper’s
historical link to economic
development over centuries, as
well as its current significance to
the green transition. The purpose
of “Riotinto Experience,” opened
to the public in January 2025, is
to boost the local economy and
cultural heritage well beyond the
operating life of the mine itself.
The project created three new
jobs and has been garnering
excellent feedback from the
public.
100
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local
Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Community roundtable (“Circulo de Diálogo”)
To foster community involvement
in our activities, we held one
roundtable meeting in 2025
with around 10 local stakeholder
representatives from the
surrounding towns led by our
corporate social responsibility
director. This forum encouraged
ongoing dialogue, idea-sharing and
trust, addressing social, safety and
environmental concerns.
Meetings in 2025 featured: a
discussion on the project to build a
man-made soil factory in the area;
2024 sustainability milestones;
health and safety; water and energy
efficiency; local communities
support and Atalaya Foundation
social initiatives, responsible supply
chains and equality; air-quality and
noise management; restoration
and legacy-waste management,
including diffuse-water control and
the rehabilitation of historic waste
dumps; in this regard, the Circle
discussed the different approach
of old mining companies in
comparison to modern standards.
They agreed on the importance of
Atalaya´s commitment to not leave
things as they did in the past; also
the need for pursuing a shared idea
of the opportunities that could be
developed in a future restoration
project; they proposed that such
development should be part of a
dialogue including the community,
the administration and the Company.
In this regard, future discussions
are planned around the extension
of mine life at Proyecto Riotinto
and environmental and restoration
projects.
101
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local
Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Proyecto Touro (Galicia, Spain)
TERRAS (a Spanish
acronym for
Transparency,
Ethics, and Genuine
Environmental and
Social Responsibility),
is a stakeholder
relations plan which
works towards
environmental,
social and economic
progress of the
Proyecto Touro area
in Galicia.
This programme allows Cobre
San Rafael to become an active
participant in the local community
by supporting environmental and
educational activities, with sport a
big part of this effort.
As an example, the TERRAS
programme works with NGO
Amicos to integrate people with
disabilities through environmental
awareness actions. Cobre San
Rafael is also working closely in a
research study with the marine
sector, the University of Santiago
de Compostela and Spain’s national
research council (IIMM-CSIC).
Together we have developed an
environmental monitoring system
that analyses the River Ulla and
Arousa estuary water quality, for
a better understanding of the
environmental challenges that
affect local fisheries.
These and many more social
actions are testament to Cobre San
Rafael’s role as a driver and active
participant in regional life.
This year we reinforced our
commitment to regional
development by further engaging
with local Galician suppliers in
Cobre San Rafael’s (Touro’s) value
chain, working closely with business
networks to better understand
and advance opportunities across
local industry, services, hospitality,
tourism, agriculture and livestock.
Proyecto Touro progressed to public
consultation in November 2024.
The Company has commissioned
an independent socio-economic
study which results talk about a high
impact project for Galicia: €2,542
million contribution to GDP in 14
years, €250 million investment, €500
million in procurement from Galician
suppliers and the creation of around
2,000 full-time equivalent jobs.
Together with our TERRAS
community programme, our
strategy supports sport, education,
social inclusion, economic activity
and environmental protection
initiatives as part of our ambition
to become a model of sustainable
industrial development in Galicia.
102
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local
Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Heritage
The origin of mining
in Huelva dates back
thousands of years.
The region which is
home to the Riotinto
mines was exploited
by the Tartessians,
Phoenicians and
Romans and evidence
of their activity has
been uncovered by
expert historians and
archaeologists.
Mining past and present
at Proyecto Riotinto
Protecting, preserving and
enhancing the value of the historical
heritage is an essential part ofthe
Company’s commitment to society,
as reflected in the Environmental
Policy of Proyecto Riotinto; actually,
the full footprint of the mine sits in a
heritage protected area. As a result
of this, Atalaya is in permanent
consultation with the authorities
and has developed intensive
research and archaeological
activities, implementing relevant
projects to study, document,
transfer and/or preserve existing
or discovered historical items,
sites, documents, in collaboration
with Junta de Andalucía, Huelva
Archaeologic Museum and Riotinto
Mining Museum.
103
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local
Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Goals 2026
□ Finish evaluating 100%
of Atalaya’s critical and
important suppliers
□ Continue with the
evaluation of non-critical
suppliers
□ Extend the functionality
of the supplier portal
Making sure our
supplier and
procurement activities
are as ethical and
sustainable as possible
is an important goal
for Atalaya, albeit a
challenging one.
To uphold this, we require our
employees, suppliers and other
partners to respect our policies and
comply with our Code of Business
Conduct. In 2025 we built on the
updates we made to procurement
processes strengthening ESG
screening for critical and important
suppliers, enhancing traceability
checks and expanding independent
audits of high-risk supply chains.
These actions reflect our belief that
a truly sustainable business must
uphold social and environmental
responsibility across every level of its
operations.
Milestones 2025
Strengthened ESG
screening for all critical
and important suppliers
through the new supplier
portal.
Enhanced traceability
and ethical sourcing
via independent third-
party audits of high-risk
international suppliers.
96.63% European
procurement (89.20%
Spanish procurement).
Commitment to
responsible sourcing
Being a responsible mining company
means partnering with suppliers
who share our ethical, social and
environmental standards. This
ensures that our operations make
a positive contribution to the world
around us and that the goods and
services we rely on are produced
safely, fairly and transparently. As
global supply chains become more
complex, maintaining visibility
of our suppliers’ performance is
increasingly important and we
continue to strengthen our processes
to ensure proper oversight.
We value working with local
suppliers, because it enables
regular inspections and quality
control, allowing close alignment
with our standards. This in turn
supports economic development
and job creation in neighbouring
communities and, because keeping
up with our suppliers does not
require long journeys, reduces our
carbon footprint.
In 2025, we continued to prioritise
European, particularly Spanish,
suppliers. In 2025, Atalaya used 636
suppliers
14
and contractors, of which
89.20% were Spanish, 6.93% European
and the remaining 3.87% were from
outside of Europe.
2025 2024 2023 2022 2021
Spanish suppliers 89% 93% 89% 91% 92%
14
Number of companies with which a business
relationship has been maintained during 2025. These
1,002 suppliers include ARM, CSR, AMV and AOM.
105
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible
sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Strengthened supplier
categorisation
At Atalaya, we
endeavour to
source our supplies
responsibly. We have
a formal purchasing
procedure and an
application form that
all new suppliers
must complete
before entering into a
business relationship
with us.
The form has a dedicated ESG
section, where the supplier must
provide information about their
policies and procedures to address
sustainability issues.
In 2025, we worked to tighten our
internal procurement processes
to ensure that sourcing decisions
align with the highest standards
of responsibility and transparency.
Building on the updates made
in 2024, we refined our supplier
categorisation model to provide a
clearer and more rigorous assessment
of supplier risk and criticality. This
enhanced framework allows us
to identify our most strategically
important suppliers, determine where
ESG risks may be more prevalent and
tailor our engagement and oversight
accordingly.
As part of this work, we also improved
internal procedures to ensure
that all new suppliers undergo a
structured and well-documented
onboarding process. This included
updated requirements for supplier
information, improved integration
of ESG criteria into pre-qualification
assessments and clearer guidance for
procurement teams when evaluating
suppliers across different risk levels.
These refinements strengthen our
oversight and help ensure that all
procurement decisions are made
with a holistic view of quality, integrity
and long-term sustainability. By
embedding these improvements into
our everyday practices, we are making
sure our supply chain is resilient for
the long term.
106
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible
sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
ESG monitoring and supplier evaluation
In 2025, we continued to strengthen
the monitoring and evaluation of
our suppliers to ensure alignment
with Atalaya’s ESG standards.
Building on the rollout of our new
supplier portal, we bolstered the
depth and consistency of ESG
screening across all critical and
large suppliers. The updated system
is now more robust, with more
comprehensive checks covering
financial solvency, compliance,
human rights, safety performance,
environmental management and
reputational risk.
Given the global nature of our
supply chain, we pay particular
attention to suppliers operating
in regions with lower regulatory
maturity or higher ESG exposure.
This includes suppliers involved
in transport and logistics, where
complex operating environments
can create additional risks.
Throughout 2025, we worked to
integrate these suppliers into
our enhanced evaluation system
and reinforced our due-diligence
requirements including on-
the-ground verification where
appropriate. One such inspection
was carried out by SGS in Gujarat,
India, to inspect the supply of a
material used in our mines provided
by our supplier, Vegas Industries.
Our approach is grounded in the
belief that responsible sourcing
must be demonstrated in practice,
not just on paper. That means
documentation reviews are
supported by field inspections
for suppliers in higher-risk
jurisdictions, verifying working
conditions, safety practices and
environmental standards at origin.
These inspections, through verified
third-party experts such as SGS, the
world’s leading testing, inspection
and certification company, help
ensure full traceability of materials
and services from production
through to delivery at our site.
Independent inspections allow
us to check working conditions,
safety practices and environmental
performance at origin, while
ongoing internal monitoring tracks
compliance, incidents, certifications
and areas for improvement. When
issues are identified, we engage
directly with suppliers to set the
process on track again. We maintain
the option to reassess or discontinue
relationships where expectations are
not met.
Looking ahead to 2026, we
plan to broaden the number
of suppliers subject to periodic
audits, strengthen traceability
requirements and further integrate
ESG indicators into supplier
performance reviews. These actions
will help reinforce the transparency,
responsibility and resilience of our
supply chain.
In 2025, during inspections
carried out by the environmental
department of Proyecto Riotinto, 11
contractor companies on site were
detected with minor deficiencies in
their environmental management
at our facilities. All of them were
“minor” (e.g. poor waste segregation).
None of the infractions detected had
any impact on the environment and
were rectified immediately, with no
consequences for their contractual
relationship with Atalaya.
In 2025, during inspections carried
out by our Health and Safety team,
39 contractor companies had non-
significant deficiencies in their H&S
management at Proyecto Riotinto’s
facilities and the impacts were
resolved without incident.
2025 2024 2023 2022 2021
Suppliers assessed for
environmental impacts on site
Suppliers assessed for
social* impacts on site
*
Health and Safety.
107
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible
sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Human rights and modern slavery
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
108
ATALAYA MINING · SUSTAINABILITY REPORT
2025
Commitment to human rights
and modern slavery
Management approach
As members of the
United Nations Global
Compact (UNGC)
initiative, we strive
to uphold, support
and fulfil the human
rights of all individuals
affected by our
operations and we
integrate human rights
considerations into all
aspects of our work.
We also acknowledge the potential
impact our business activities may
have and we assume responsibility
Our commitment to ensuring fair
working conditions and mitigating
potential risks related to modern
slavery within our business operations
is set out in our Prevention of Modern
Slavery Policy and related statement.
This policy ensures we act ethically
and with integrity in all our business
relationships, implementing and
enforcing effective systems and
controls to ensure slavery and human
trafficking are not taking place
anywhere in our supply chains (see
Supply Chain section). In 2025, no
incidents of modern slavery were
identified in our operations or supply
chain.
Our Code of Conduct also prioritises
strict adherence to internationally
recognised fundamental human
rights within its sphere of influence.
All suppliers are required to uphold
and protect these rights in all
activities and must refrain from
any form of discrimination. We also
have the following policies in place
relevant to modern slavery, which we
continuously review and update: our
Code of Business Conduct & Ethics;
Anti-Bribery & Anti-Corruption Policy;
and the Whistleblower Policy, all of
which can be found on our website.
for promoting and implementing
measures to uphold human rights.
We have committed to compliance
with the Human Rights Principles
(Principles 1 and 2) of the UNGC,
derived from the Universal
Declaration of Human Rights.
We operate in a jurisdiction
characterised by stable political
and economic conditions, with a
low risk of human rights violations.
Nonetheless, we do recognise
the possibility of being linked to
modern slavery practices through
our supply chain. We thus also
acknowledge the importance of
managing residual issues that
may arise from our activities and
note our Code of Conduct makes
specific mention of human rights.
109
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Innovation and Technology
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Innovation
IT and cybersecurity
Financial performance
Annexes
110
ATALAYA MINING · SUSTAINABILITY REPORT
2025
Innovation
As the pace of
technological change
accelerates and the
need to meet climate
challenges intensifies,
innovation helps us
continually improve
the efficiency of our
processes. This drives
resilience for the long
term and helps our
production methods,
as well as our output
itself, contribute to this
challenge.
Goals 2026
We are working on several
complex projects to
improve the energy and
production efficiency of
our processes, building
our contribution to the
climate transition. As many
of these projects are in
very early stages we have
limited visibility on how or if
they will develop. We have
therefore refrained from
setting concrete goals.
Milestones 2025
PREDICT project launched
to test next-generation
groundwater sensors and
build a predictive digital
model of subsurface water
flows.
DIGIMITEX project launched
to recover valuable materials
from flotation.
Joined the EU DEXPLORE
programme, deploying
advanced exploration
technologies to identify
critical raw materials (CRMs)
at depth.
RIS-INCOME, which ends
in 2026, reached its core
objective-to create an ESG and
compliance digital tracking
tool for the mining sector.
Pilot plant for treatment of
complex minerals started
operating.
Commitment
to fostering
innovation
At Atalaya, innovation is central
to how we operate and how we
prepare for the future. In 2025, we
strengthened this commitment by
working on a portfolio of scientific
and technological projects aimed
at boosting operational efficiency,
deepening our understanding
of geological and environmental
systems, and accelerating our
transition to more sustainable
mining practices.
From commissioning a fully
operational mini-pilot plant for the
treatment of complex polymetallic
ores, to launching pioneering
initiatives in groundwater
modelling, circular-economy
solutions, advanced mineral
exploration and digital ESG
compliance, we continue to invest
in innovation that delivers long-
term value for our business, our
stakeholders and the environment.
111
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Innovation
IT and cybersecurity
Financial performance
Annexes
Management approach
In 2025, our innovation
team continued
to work across all
departments to
identify and push
research initiatives
that seek to address
our day-to-day
challenges and bolster
productivity, efficiency
and sustainability.
Our general manager meets the
innovation team once a month to
review progress, guide priorities and
approve new ideas, ensuring that
innovation remains closely aligned
with business needs.
Throughout the year, we actively
pursued regional, national and
European funding opportunities
and partnered with external
organisations to accelerate
improvements in energy efficiency,
water management, circularity and
mineral recovery.
Where projects show strong
potential, we commit to ongoing
investment; in 2025, we invested
€3,100,000 to drive innovation across
our operations.
We also share our findings through
scientific collaborations and
research publications, contributing
to broader industry knowledge.
Year Publication Link
2025
Evaluation of Modelling and Remote
Sensing Tools for Improving Air
Quality Around Open Pit Mines †
https://doi.org/10.3390/
eesp2025034007
2024
Atalaya TSF monitoring: Data correlation,
modelling and best practices
https://drive.google.com/drive/
folders/1cW8adJS9554y2_
Mrzm6Dr7Zi2qaUxWeC
2024
Selective recovery of antimony from
Sb-bearing copper concentrates by
integration of alkaline sulphide leaching
solutions and microwave-assisted heating:
A new sustainable processing route
https://doi.org/10.1016/j.
scitotenv.2024.175576
2024
Sources of seismic noise in an open-
pit mining environment
https://doi.org/10.1038/
s41598-024-75733-2
2023
Reduction of diffuse inputs of acid mine
drainage from the Riotinto mine into the
Odiel and Tinto river catchments (Huelva)
(Original title: Reducción de los aportes difusos
de Drenaje Ácido de Mina de la Mina de Riotinto
a las cuencas de los ríos Odiel y Tinto (Huelva))
https://doi.org/10.55407/
geogaceta95136
Research publications
112
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Innovation
IT and cybersecurity
Financial performance
Annexes
Key initiatives
Pilot plant
for treatment
of complex
materials
In 2025, the mini-pilot
plant became operational,
successfully replicating
Atalaya’s current processing
flowsheet. This marks a
key step toward studying
the complex polymetallic
minerals expected from the
San Dionisio, San Antonio
and Masa Valverde deposits.
Throughout the year, we
continued incorporating
specialised equipment and
technical capabilities needed
so that the plant can test
increasingly complex ore
types and is ready for future
development.
Project DIGIMITEX
In 2025, Atalaya launched a
strategic circular-economy
initiative led by the metallurgy
team and focused on the
valorisation of mining residues and
legacy by-products. DIGIMITEX
is being developed within a
consortium that was recently
awarded the Misiones 2025
grant by the Spanish Ministry of
Science and Innovation, which
aims to fund large cooperative
research and innovation projects
addressing strategic societal and
economic challenges. Activities are
scheduled to start in 2026.
DIGIMITEX aims to develop
sustainable technological solutions
for the recovery of critical metals
(mainly cobalt and copper) from
mining flotation residues. To
do so, it investigates the use of
functionalised textile fibres and
yarns, that is, those modified to
Project
PREDICT
In 2025, Atalaya launched
Project PREDICT, a 24-month
initiative funded by EIT Raw
Materials to monitor the
composition and movement
of groundwater at Proyecto
Riotinto.
The project aims to test
new sensors to develop a
digital predictive model on
groundwater composition,
movement and, potentially,
new innovation methods.
We are currently immersed in
several scientific innovation
projects to improve yields and our
sustainability as a miner. The most
important are as follows:
perform specific functions
such as repel water or fire, for
example, as well as advanced
membranes capable of selectively
capturing metals in complex
mining environments.
The project integrates
biotechnological approaches
such as bioleaching and the
use of biosurfactants to reduce
the environmental impact
of conventional processes. In
addition, it focuses on advanced
digitalisation through sensors,
artificial intelligence and digital
twins to monitor and optimise
processes in real time. Finally,
the developed technologies will
be validated in pre-industrial
pilot plants, contributing to
circular economy objectives,
environmental impact reduction
and strategic European autonomy
in critical raw materials (CRMs).
113
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Innovation
IT and cybersecurity
Financial performance
Annexes
RIS-INCOME
Atalaya joined the RIS-
INCOME initiative in 2024,
a EIT Raw Materials-funded
consortium developing a
bespoke digital platform to
support ESG and compliance
reporting across the mining
sector. In 2025 the project
achieved its core objective
which is to build a mining-
specific software tool for
tracking ESG reporting criteria
and ensuring regulatory
compliance.
Project
DEXPLORE
In November 2024, Atalaya
joined the Europe-wide
DEXPLORE initiative, a
36-month programme aimed
at developing deep-land
exploration for CRMs.
DEXPLORE uses cutting-
edge technologies, including
drone-assisted mineral
detection, advanced
geophysical methods and
integrated geological, remote-
sensory and geophysical
data modelling to investigate
deposits down to 600m
deep. Its goal is to identify
key mineral resources that
support Europe’s transition to
a low-carbon economy.
By taking part in this
initiative, Atalaya reinforces
its commitment to innovation
and resource security,
contributing to sustainable
and transparent mineral
exploration.
114
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Innovation
IT and cybersecurity
Financial performance
Annexes
IT and cybersecurity
Keeping digital
infrastructure and
data protected and
robust is pivotal to
the efficiency and
reliability of modern
mining operations.
Our first duty is, of course, to
safeguard our staff from physical
safety risks due to any technical
hitch or breach. But we must also
maintain vigilance on any difficulties
which could disrupt our business or
risk the leak of sensitive information.
To ensure minimal downtime in
our IT systems and communication
channels, we have strengthened our
team in the past year and worked
hard to keep our networks up to
date and robust.
Goals 2026
□ Expand cybersecurity
and development team
with internal and external
personnel
□ Expand smart data input
to new departments,
digitising data capture
across the Company
□ Complete development
work to facilitate work
between the Company’s
external IT partners
□ Complete data migration
and train all users in
new enterprise resource
planning system
Milestones 2025
Two “zero harm” initiatives
developed: improved radio
coverage and an app for
logging preventive safety
observations.
Three specialised new team
members strengthened our
abilities in cybersecurity,
PowerBI and JAVA
programming.
Ongoing in-person training
for employees in cybersecurity
and data (PowerBI).
Improvements to the network
infrastructure with new fibre
optic cable installations.
Implementation of a
Network Detection and
Response (NDR) solution
and anti-ransomware in the
cybersecurity area..
Preparation of a cybersecurity
master plan and IT procedure
documents.
115
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Innovation
IT and cybersecurity
Financial performance
Annexes
Management approach
Maintaining secure,
reliable and resilient IT
systems is a strategic
priority for Atalaya,
underpinning the
continuity of our
operations.
Our approach combines industry-
recognised best practices, such as
the recommendations of the Centre
for Internet Security (CIS), with an
internal structure that includes
dedicated specialists supported by
external experts.
As part of our efforts, we are
developing an integrated
cybersecurity and IT framework with
oversight at Board level, formalising
policies and controls that reinforce
system resilience.
We regularly carry out preventive
measures such as phishing
simulations, staff training,
continuous monitoring, external
audits and cloud-based backup
systems to help us detect threats
early and safeguard critical
information.
Together, these measures form
a comprehensive defence that
protects our digital infrastructure,
minimises operational risks
and ensures the secure flow of
information across the business.
Key initiatives
We strengthened our IT department
by hiring three new staff members
in 2025, specialised in cybersecurity,
data and PowerBI.
Cybersecurity
Following a 2024 audit, an action
plan was drawn up for a series of
objectives and improvements in
2025-2027, including expanding
the team, which is complete for
the moment.
In addition, we developed and
formalised our cybersecurity
policies and IT Security Master
Plan this past year, and they are
currently being verified by the
legal department, our integrated
management system and the
human resources department.
Once approved, the policies will
be communicated to employees.
In 2025 we fully implemented
new IT security systems, including
an AI-controlled Network
Detection and Response
(NDR) system. We also put more
robust blocking systems in place
against ransomware attacks and
incorporated anti-ransomware
solutions.
We carried out several phishing
campaigns targeting different
groups of critical users, as well
as face-to-face cybersecurity
courses for employees.
For 2026 our priority is to better
coordinate the different digital
security tools already in place
so that they work together
effectively. This will strengthen
protection against potential
cybersecurity breaches.
116
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Innovation
IT and cybersecurity
Financial performance
Annexes
Development
As part of the “zero harm”
project led by the Health and
Safety team, we developed an
application for all Atalaya employees
which allows them to submit
preventive observations directly
from their mobile phones, helping
us improve their safety.
We also redesigned the Smart
Data Input (SDI) system to make it
easier to use, adding coordination of
business activities and the supplier
module, so these processes are now
managed together in one platform.
Digitising data, automating how it is
processed and producing consistent,
verified reports that can be used
across the whole company are key
priorities for the IT team. We will
focus on expanding the SDI system,
which allows data to be captured
digitally at source, and extend
collection to all remaining areas of
the business.
The team will also complete ongoing
projects to improve collaboration
and data sharing between Atalaya
and its contractors and suppliers.
Infrastructure and data
In 2025, we prepared the master
data, conducted testing and
transferred current records
to minimise the impact of
migration to AX–D365, which will
be completed in 2026.
We hired new personnel, with a
person dedicated exclusively to
data and an expert in PowerBI.
This has allowed us to begin the
development and deployment
of a data lake, producing the first
basic sustainability data reports
and also the first plant data
reports.
New network architecture is
being rolled out across the
organisation, including upgrades
to the core network as well as
the distribution and access
layers. The infrastructure is being
migrated to Fortinet technology,
with perimeter security provided
by Fortigate firewalls and internal
network protection managed
through FortiSwitch.
We expanded our fibre optic
network to provide connectivity
to a new onsite office which
is some distance from our data
centre.
We also worked to improve radio
coverage throughout the mine
to improve safety as part of the
“zero harm” project.
Finally, we also provided training
in PowerBI to several employees,
at least one per department, in
2025.
In 2026 we will complete the
migration from Microsoft
Dynamics AX to Dynamics
365 Finance & Operations,
integrating core business
processes such as finance,
procurement and operations. All
users will be trained on the new
system.
Once the migration is complete,
we will adapt the ERP to
Atalaya’s specific needs and roll
it out to additional areas not
previously covered, including
human resources and capital
investment projects.
117
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Innovation
IT and cybersecurity
Financial performance
Annexes
Financial strength supporting
long-term sustainable value creation
Our financial
performance in
2025 reflects the
resilience of our
operating model, the
disciplined execution
of our strategy
and the structural
improvements made
across the Riotinto
District in recent years.
Revenue increased significantly to
€482.9 million (2024: €326.8 million),
driven by higher copper production,
improved realised copper prices
and stronger operational efficiency.
EBITDA rose to €179.8 million (2024:
€66.4 million), demonstrating
the operating leverage inherent
in our business and the benefits
of cost optimisation initiatives
implemented across mining and
processing activities.
Copper production reached 51,139
tonnes in 2025, achieving the
upper end of guidance, while
the average realised copper
price increased to US$4.49/lb. At
the same time, we continued to
strengthen cost discipline, with
cash costs decreasing to US$2.40/
lb payable (2024: US$2.92/lb) and
All-in Sustaining Costs improving to
US$2.90/lb payable (2024: US$3.26/
lb). These improvements reinforce
our ability to generate free cash flow
across commodity price cycles.
Our balance sheet strengthened
materially during the year.
Consolidated cash at year-end stood
at €166.3 million, resulting in a net
cash position of €122.0 million. This
robust financial position enhances
our resilience in volatile market
conditions and provides strategic
flexibility to fund organic growth,
advance development projects and
pursue value-accretive opportunities
while maintaining prudent capital
allocation.
Unit 2025 2024 2023
Revenues M 482.9 326.8 340.3
EBITDA M 179.8 66.4 73.1
Dividend per share
15
US$/share 0.11 0.07 0.09
Realised copper price (excluding QPs) $/lb 4.49 4.19 3.80
Cash cost $/lb payable 2.40 2.92 2.79
All-in Sustaining Cost (AISC) $/lb payable 2.90 3.26 3.09
Net cash position M 122.0 35.1 54.3
Cash at bank M 166.3 52.9 121.0
Financial Highlights
15
Represents the total dividend for each fiscal year, consisting of an Interim Dividend (paid) and a proposed Final
Dividend (subject to shareholder approval at the 2026 AGM).
119
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial
performance
Annexes
Linking financial performance
and sustainability
Capital allocation and
shareholder returns
Our commitment to
sustainability is not
separate from our
financial performance;
it underpins it.
Operational efficiency
improvements, energy optimisation
initiatives and disciplined water
management contribute directly
to cost control and risk mitigation.
Similarly, proactive stakeholder
engagement and responsible
permitting processes reduce delays,
strengthen our social licence to
operate and protect long-term value.
Our financial
management
framework is built
around three priorities:
Investors increasingly assess
mining companies on their ability
to combine financial returns with
strong environmental and social
governance. By embedding ESG
principles into capital allocation
decisions, risk management
frameworks and project
development planning, we enhance
access to capital and reinforce
investor confidence.
Our strategy prioritises long-term
value over short-term volatility.
Maintaining a strong balance sheet
enables us to continue investing
in brownfield expansion, resource
development and operational
improvements, even during periods
of weaker commodity pricing. This
disciplined approach supports
stable employment, predictable
supplier relationships and sustained
community investment.
In light of the Company’s
strong operational and financial
performance in 2025, the Board has
approved a total dividend of €0.109
per share for the year (2024: €0.0637
per share), reflecting both improved
earnings and the strength of the
Group’s balance sheet.
This distribution is consistent with
our disciplined capital allocation
approach, which seeks to balance
investment in long-term growth
with sustainable shareholder
returns across the commodity
cycle. Dividend decisions are
based on cash generation,
future capital requirements and
market conditions, ensuring that
shareholder returns remain aligned
with the Company’s long-term
strategy and financial resilience.
Maintaining balance
sheet strength and
liquidity
Funding operational
optimisation and
growth projects
Delivering sustainable
shareholder returns
120
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial
performance
Annexes
Strengthening financial
management and governance
Copper market overview
Over recent years,
we have continued
enhancing the
efficiency and
robustness of our
financial management
systems.
Process automation, digitalisation
and internal control improvements
have increased transparency,
reduced operational risk and
improved decision-making speed.
These initiatives support accurate
cost tracking, real-time performance
monitoring and enhanced financial
discipline across the Group. Strong
financial governance, combined
with operational excellence,
is fundamental to delivering
sustainable profitability.
In 2025, global copper
mine production
growth remained
limited, with the
International
Copper Study Group
estimating an increase
of approximately 1%
over the first 11 months
of the year.
Output in Chile declined by
around 2%, while production in the
Democratic Republic of the Congo
increased. Major supply disruptions
at Kamoa-Kakula and Grasberg,
together with underperformance at
certain large operations, contributed
to a tightening concentrate market
and record-low treatment and
refining charges.
On the demand side, global real
GDP grew by approximately 3%,
supporting refined copper usage
growth of around 4%, with China,
which accounts for approximately
58% of global consumption,
recording demand growth of
approximately 5.5%. Structural
drivers such as investment in
renewable energy, grid expansion
and data centres supporting
artificial intelligence continued
to underpin long-term copper
demand.
The LME copper price averaged
$4.51/lb during 2025, rising from
below $4.00/lb at the start of
the year to approximately $5.70/
lb by year-end, despite periods of
volatility.
For a more detailed analysis of
supply, demand and price dynamics,
please refer to the Copper Market
Overview section in the 2025 Annual
Report.
121
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial
performance
Annexes
Economic performance in 2025
2025 2024 2023
Economic value generated
Revenues €'000 482 ,915 32 6,79 7 340,346
Economic value distributed
- -
Cash operating costs (indicate exclusions) €'000 (328,509 ) (277, 401 ) (284,432 )
Wages and salaries; other payments and benefits for employees €'000 (30,420 ) (27 ,868 ) (25,756 )
Payments to capital providers €'000 (10,056 ) (10,306 ) (11,4 77 )
Payments to the government (by country)- Spain €'000 (16,017) - 2,210
Payments to the government (by country)- Cyprus €'000 (5,043) (2,614) (2,978)
Payments to shareholders €'000 n/a n/a n/a
Investments in the community €'000 (812 ) (963 ) (710 )
Economic value retained (Economic value generated-Economic value distributed) €'000 91,599 7,6 4 5 12,7 84
Financial assistance received from government
-
Tax breaks €'000 2,725 6,297 6,852
Tax credits €'000 (1,979) (2,528) (2,863)
Subsidies awarded €'000 - - -
Investments grants €'000 - - -
Investments research and development grants and other relevant types of grants €'000 - - -
Awards €'000 - - -
Exemption from royalty payments €'000 - - -
Financial assistance from Export Credit Agencies (ECAs) €'000 - - -
Financial incentives €'000 - - -
Other financial benefits received or receivable from any government for any operation €'000 n/a n/a n/a
Taxes on profit paid
16
M€ (21.0) (3) (5)
Public subsidies received
17
€'000 746 3,769 3,989
Level of development of significant infrastructure investments and
services supported
n/a n/a n/a
16 Tax payment to governments. Please refer to “Payment to Government Report” on Atalaya’s website.
17 Calculated as sum of tax credits and tax breaks. For further information please refer to annual accounts report (Note 10 -Annual Report).
122
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial
performance
Annexes
Annexes
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
123
ATALAYA MINING · SUSTAINABILITY REPORT
2025
Report Methodology
Terms of reference/
Reporting Framework
This report has been prepared with
reference to GRI Standards and
to respond to the contents of Law
11/2018 on non-financial information.
Likewise, it responds to the GRI
Mining Sector Standard which is
voluntary as of now, with the goal of
improving transparency. The report
also responds to some indicators
proposed by the “Metals&Mining”
sector standard of the SASB initiative
through its contents.
Reporting principles
followed in the
Annual Report
The following principles have been
considered to ensure the correct
collection, quality, and processing of
information:
□ Stakeholder participation.
This report has been drawn
up, considering stakeholders’
expectations concerning our
activity and main strategic themes.
The report provides information
on who the stakeholders are, the
relationship maintained with them
and how these expectations are
identified and considered
□ Context of sustainability. An
assessment has been made of
how the activities and services
provided by Atalaya Mining Copper
S.A. interact with the economic,
environmental and social context
in which the Company carries out
its activity. This analysis has been
considered in the design of the
content of the report.
□ Materiality. To define the most
relevant sustainability aspects
for the Company, a materiality
study has been carried out. The
methodology used to identify the
material aspects is detailed below
□ Completeness. Once the material
aspects have been identified,
sufficient information has been
communicated about them,
providing a complete picture of
Atalaya Mining Copper S.A. in the
reporting period for stakeholders
to understand its evolution, results,
and current situation.
Principles for the
processing and quality
of information
□ Balance. This report reflects both
the positive and negative aspects
of the Company’s performance
and provides an objective and
comprehensive view of its overall
development
□ Comparability. Information from
previous years (2021, 2022, 2023
and 2024) has been included
in this report to make it easier
for stakeholders to analyse the
evolution of the Company’s
performance in recent years and
compare it with other organisations
□ Precision. The information
included is presented in a precise
and detailed manner to meet
the expectations expressed by
stakeholders
□ Timeliness. Atalaya Mining Copper,
S.A. will publish an annual update
of this report’s contents to provide
its stakeholders with regular
access to information about its
performance
□ Clarity. To avoid misleading
inaccuracies or the omission
of important information, the
Company presents information
on its situation in a way that is
accessible and clear to all its
stakeholders
□ Reliability. Throughout this report,
Atalaya Mining Copper, S.A. has
detailed the process followed for its
preparation, laying the foundations
so that in the future, the content
included may be subject to an
external review and evaluation to
assess the quality and degree of
materiality of the information
124
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
Materiality assessment
The GRI Standards require
organisations to conduct a materiality
assessment to determine which
topics are sufficiently important to be
reported. Under GRI, a material topic
reflects an organisation’s significant
economic, environmental and social
impacts, or those that substantively
influence stakeholder assessments
and decisions. Materiality therefore
guides the focus and content of this
Sustainability Report.
In 2025, Atalaya completed a double
materiality assessment (DMA)
in line with emerging European
regulatory expectations. Although
the application of the Corporate
Sustainability Reporting Directive
(CSRD) has been postponed for the
Company, undertaking the DMA has
strengthened our understanding of
our most significant ESG impacts,
risks and opportunities.
This Sustainability Report continues
to be prepared with reference to
the GRI Standards and the SASB
framework. The results of the DMA
have informed our strategic priorities
and risk management processes, and
will support our future alignment
with ESRS reporting requirements
in accordance with the applicable
regulatory timeline.
The DMA was conducted through a
structured five-phase process aligned
with the European Sustainability
Reporting Standards (ESRS).
This included defining our value
chain, analysing sector trends and
benchmarking peers, identifying
relevant sustainability topics and
associated impacts, risks and
opportunities (IROs), and assessing
these through a semi-quantitative
methodology aligned with CSRD
criteria and our internal risk
framework. Stakeholder perspectives
— including employees, communities,
investors, regulators and suppliers —
were incorporated through surveys,
consultations and direct engagement
to validate and refine the results. The
outcomes were consolidated into a
double materiality matrix reflecting
the most significant impacts and
financial risks across each topic. The
assessment will be reviewed annually
to ensure it remains aligned with the
Company’s strategy and stakeholder
expectations.
The assessment will be reviewed
annually to ensure it accurately
reflects the Company’s reality and
strategy, and the expectations of
internal and external stakeholders.
125
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
Topics Reporting Scope Double materiality heat map
* Include the subtopic: “Information related impacts for consumers and or end-users” green transition products.
** Include the subtopics: Working conditions “own workers” and “value chain workers”.
1
Climate change, mitigation
and adaptation
2
Energy (Dependency, Efficiency,
and Responsible Consumption)
3
Pollution of water-soil (Critical
infrastructure risk management)
4
Pollution of Air (Monitoring
and mitigation of impacts
on air quality)
5
Water (Dependency, Uses,
and Impacts)
6
Direct impact drivers on
biodiversity loss (Impacts on
and Conservation of Protected
Species)
7
Resource outflows related to
products and services
(Green transition products/
enabling or transitional activities)*
8
Waste (Responsible waste
and tailing management)
9
Working conditions (Safety,
emergency preparedness
and occupational health)**
10
Equal treatment and
opportunities for all own
workers (Talent attraction,
employee retention and
development – Diversity
and inclusion)
11
Communities, economic,
social and cultural rights
(Action on social, Community
engagement and impact)
12
Data protection, privacy
and cybersecurity
13
Governance (Corruption
and bribery)
Impact materiality
Financial materiality
13
12
10
8112
4
3
791
65
LOWEST
HIGHEST
MEDIUM
126
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
Sustainability data
2025 2024 2023 2022 2021
Total of number of employees 514 494 482 494 503
By gender
Female 119 104 96 91 85
Male 395 390 386 403 418
By age
Under 30 years old 45 40 45 59 74
30-50 years old 356 345 337 329 343
Over 50 years old 113 109 100 106 86
By professional category
Management 18 21 17 18 17
Administratives 62 58 53 51 50
Technicians 117 108 103 101 101
Mine and plant operators 317 307 309 324 335
By district
Riotinto district 482 464 453 468 485
Touro district 19 16 16 15 15
Extremadura district 9 10 10 8 N/A
Other (Cyprus) 4 4 3 3 3
Atalaya Mining Copper general workforce18
Our People
18. Data at year-end. included Proyecto Riotinto + Masa Valverde + Proyecto Touro + Ossa Morena + Cyprus
office and London office.
Total number of employees: 2025 2024 2023 2022 2021
With permanent contract 480 462 447 442 423
By gender
Female 106 95 91 84 73
Male 374 367 356 358 350
By district
Riotinto district 448 432 419 417 406
Touro district 19 16 16 14 14
Extremadura district 9 10 9 8 N/A
(Cyprus and London offices) 4 4 3 3 3
With temporary contract 34 32 35 52 80
By gender
Female 13 9 5 7 9
Male 21 23 30 45 71
By district
Riotinto District 34 32 34 51 79
Touro District 0 0 0 1 1
Extremadura District 0 0 1 8 N/A
(Cyprus and London offices) 0 0 0 0 0
In part time 8 7 8 7 5
By gender
Female 4 3 5 5 3
Male 4 4 3 2 2
In full time 506 487 474 487 498
By gender
Female 115 101 91 86 82
Male 391 386 383 401 416
Number of disabled personnel 4 6 5 5 5
% local employment
(mining basin) (ARM) 68 67 68 68 68
% of local employment
(Mining basin
+Valverde+ Beas; Galicia, Badajoz, Chipre)
71 73 73 73 Nav
127
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
Atalaya Mining Copper average workforce19
2025 2024 2023 2022 2021
Total average of employees 505 495 485 499.5 489
By gender
Female 111.15 104.13 94.5 89.92 82
Male 393.49 390.2 390.5 409.58 407
By age
Under 30 years old 42.59 40.0 57 64.5 73
30-50 years old 348.9 345.3 331.75 314.25 335
Over 50 years old 113.15 109.1 96.25 120.75 81
By professional category
Management 20.04 22.10 17.58 17.5 17
Administratives 57.91 55.33 52.67 49.25 48
Technicians 114.96 107.89 100.83 101.58 86.5
Mine and plant operators 311.72 307.08 313.92 331.17 326
By district
Riotinto district 474,9 466.17 457 477 485
Touro district 18.28 15.92 15.42 14.5 15
Extremadura district 8.45 9.83 9.58 5 N/A
Other (Cyprus) 3 3.08 3 3 3
2025 2024 2023 2022 2021
Number of indefinite term
employment contract
477.14 460.92 447.08 434.42 408.5
By gender
Female 100.92 97.46 87.33 82.5 70.5
Male 376.22 377.93 359.75 351.92 338.0
By age
Under 30 years old 31.16 28.1 44.33 44.08 44.0
30-50 years old 335.39 318.93 311.5 281.17 292.5
Over 50 years old 110.84 128.35 91.25 109.17 72.0
By professional category
Management 20.04 22.07 17.58 17.5 17.0
Administratives 54.69 54.60 49.75 46.17 39.5
Technicians 112.28 111.78 95.92 92.5 86.5
Mine and plant operators 290.38 286.93 283.83 278.25 265.5
Number of temporal term
employment contract
27.24 23.82 37.92 65.08 80.0
By gender
Female 10.06 6.67 7.17 7.42 11.5
Male 17.18 17.14 30.75 57.67 68.5
By age
Under 30 years old 11.42 7.78 12.67 20.42 28.5
30-50 years old 13.51 14.24 20.25 33.08 42.5
Over 50 years old 2.31 1.79 5 11.58 9.0
By professional category
Management 0 0 0 0 0.0
Administratives 3.23 2.37 2.92 3.08 8.0
Technicians 2.68 2.42 4.92 9.08 12.0
Mine and plant operators 21.34 20.94 30.08 52.92 60.0
19. Average date per year: the average data of the new employees has been obtained from the monthly
closing balance at the start and finish of each period (i.e. January and December).
128
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
2025 2024 2023 2022 2021
Number of part time employment
contract
4.48 7.39 8.08 6.2 7.0
By gender
Female 2.56 4.00 5.00 4.2 4.5
Male 1.93 3.39 3.08 2.0 2.5
By age
Under 30 years old 2.43 2.45 1.75 1.9 2.0
30-50 years old 0.68 2.44 2.33 1.0 1.0
Over 50 years old 1.57 2.50 4.00 4.0 4.5
By professional category
Management 0.00 0.50 1.00 1.0 1.0
Administratives 2.46 5.86 5.50 5.0 5.5
Technicians 0.77 0.92 1.00 1.0 1.0
Mine and plant operators 1.35 1.00 0.58 0.0 0.0
Number of full time employment
contract
500.15 491.82 476.92
By gender
Female 108.59 100.14 89.50
Male 391.56 391.68 387.42
By age
Under 30 yeras old 40.35 33.44 55.25
30-50 years old 348.21 330.73 329.42
Over 50 years old 111.57 127.64 92.25
By professional category
Management 20.03 21.57 16.58
Administratives 55.44 51.12 47.17
Technicians 114.18 112.28 99.83
Mine and plant operators 310.47 306.84 313.33
2025 2024 2023 2022 2021
1 Management 3.97% 4.44% 3.63% 3.50% 3.38%
Female 24.53% 22.73% 28.44% 28.57% 29.41%
Male 75.47% 77.27% 71.56% 71.43% 70.59%
Under 30 years old 0.00% 0.00% 0.00% 0.00% 0.00%
30-50 years old 48.24% 44.70% 39.34% 44.29% 47.06%
Over 50 years old 51.76% 55.30% 60.66% 55.71% 52.94%
2 Administratives 11.48% 11.18% 10.86% 9.86% 9.94%
Female 61.19% 61.75% 58.86% 64.13% 60.00%
Male 38.81% 38.25% 41.14% 35.87% 40.00%
Under 30 years old 17.72% 15.06% 18.99% 21.66% 22.00%
30-50 years old 64.44% 68.98% 69.46% 61.76% 66.00%
Over 50 years old 17.84% 15.96% 11.55% 16.58% 12.00%
3 Technicians 22.78% 21.73% 20.79% 20.34% 20.08%
Female 33.69% 31.29% 27.93% 23.54% 19.80%
Male 66.31% 68.71% 72.07% 76.46% 80.20%
Under 30 years old 5.97% 9.14% 12.23% 12.06% 13.86%
30-50 years old 73.81% 67.93% 70.00% 65.96% 69.31%
Over 50 years old 20.24% 22.93% 17.77% 21.99% 16.83%
4 Mine and plant operators 61.77% 62.64% 64.73% 66.30% 66.60%
Female 10.28% 9.59% 9.66% 8.88% 8.96%
Male 89.72% 90.41% 90.34% 91.12% 91.04%
Under 30 years old 8.17% 8.30% 11.04% 12.56% 14.63%
30-50 years old 69.63% 70.52% 69.34% 63.21% 69.25%
Over 50 years old 22.19% 21.18% 19.62% 24.23% 16.12%
Atalaya Mining Copper average workforce19
19. Average date per year: the average data of the new employees has been obtained from the monthly
closing balance at the start and finish of each period (ie. January and December).
Percentage of diversity by categories
Diversity
129
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
Average Wages Training and education (hours)
2025 2024 2023 2022 2021
By gender
Female € 40,301.38 € 40,535.24 € 39,244.07 € 37,731.65 € 35,853.89
Male € 43,813.96 € 42,563.47 € 41,115.37 € 38,272.65 € 34,899.25
By age
Under 30 years old € 33,595.20 € 33,633.56 € 32,306.44 € 31,073.45 € 27,463.01
30-50 years old € 41,350.65 € 40,500.64 € 39,622.34 € 37,879.11 € 34,856.18
Over 50 years old € 51,944.81 € 50,434.46 € 48,314.46 € 43,036.78 € 42,413.22
By professional
category
Management € 115,324.58 € 108,044.97 € 108,084.12 € 98,020.11 € 93,704.07
Administratives € 41,446.07 € 38,175.11 € 38,385.39 € 35,598.96 € 34,534.46
Technicians € 46,624.70 € 46,409.71 € 45,405.05 € 42,616.22 € 39,509.42
Mine and plant
operators
€ 37,860.53 € 36,873.19 € 35,887.99 € 33,868.25 € 30,821.86
Gender pay
gap (average
remuneration for
men to average
remuneration
for women)*
8.02% 4.77% 4.55% 1.41% -2.70%
Ratios of standard
entry level wage
compared to local
minimum wage
€1,184/
month vs
€1,778.67/
month
(33.43%)
€1,134/
month vs
€1,676.57/
month
(47.85%)
€1,080/
month
vs €1,956/
month
(81.11%)
€1,000/
month vs
€1,899.03/
month
(89.90%)
€965/month
vs €1,774.29/
month
(83.86%)
*Formula for pay gap: Pay gap = (average men salary-average women salary) / average men salary.
2025 2024 2023 2022 2021
Average hours of training
undertaken by employees
8,494 6,572 8,242 8,526 6,521
By gender
Female 2,846 2,049 1,653 2,023 970
Male 5,648 4,523 6,590 6,502 5,552
By professional category
Management 392 436 308 317 93
Administratives 1,072 998 654 1,165 519
Technicians 2,817 2,237 3,109 2,858 1,298
Mine and plant operators 4,214 2,901 4,171 4,184 4,611
130
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
New employees Dismissals
Absenteeism
2025 2024 2023 2022 2021
Total dismissals 2 8 8 4 2
By gender
Female 0 3 1 2 0
Male 2 5 7 2 2
By age
Under 30 years old 1 0 3 0 0
30-50 years old 1 2 5 3 2
Over 50 years old 0 6 0 1 0
By professional category
Management 1 1 1 0 0
Administratives 0 0 1 1 0
Technicians 0 5 1 0 0
Mine and plant operators 1 2 5 3 2
2025 2024 2023 2022 2021
Hours of absenteeism* 58,934 62,629 54,766 62,480 60,934
Percentage of absenteeism 7.17% 7.51% 6.97% 7.42% 7.05%
2025 2024 2023 2022 2021
Total of new employee hires 49 56 65 48 53
By gender
Female 18 20 10 14 7
Male 31 36 55 34 46
By age
Under 30 years old 20 18 20 14 20
30-50 years old 26 29 35 28 19
Over 50 years old 3 9 10 6 5
Total 49 55 65 48 53
Total employee turnover 21 32 53 39 39
% Rate 4.17% 6.58% 11.17% 7.83% 7.98%
By gender
Female 4 11 6 4 3
Male 17 21 47 35 36
By age
Under 30 years old 7 6 19 9 8
30-50 years old 8 11 23 26 21
Over 50 years old 6 15 11 4 10
*The absenteeism hours include permitted leaves, totaling 9,536 hours (8,822 hours in 2024).
131
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
Parental leave
2025 2024 2023 2022 2021
Total employees entitled to
parental leave 56 43 26 28 26
Female 13 11 3 5 3
Male 43 32 23 23 23
Total of employees that took
parental leave 56 43 26 28 26
Female 13 11 3 5 3
Male 43 32 23 23 23
Total of employees that returned
to work in the reporting period
after parental leave ended 47 42 26 27 26
Female 10 10 3 4 3
Male 37 32 23 23 23
2025 2024 2023 2022 2021
% Workers covered by an
occupational health and
safety management system
100 100 100 100 100
Number of hours worked
Own employees 753,541 761,496 748,758 781,569 821,126
Contractors 1,748,796 1,642,389 1,279,592 1,181,847 1,300,548
Total 2,502,337 2,403,885 2,028,350 1,963,416 2,121,674
Number of lost days worked
Own employees 48 50 200 137 168
Contractors 440 198 78 298 370
Total 488 248 278 435 538
Work related injuries
20
Number of fatalities
Own employees 0 0 0 0 0
Contractors 0 0 0 0 0
Total 0 0 0 0 0
Number of lost time injuries
Own employees 2 1 3 4 5
Contractors 10 6 4 12 12
Total 12 7 7 16 17
Number of high-consequence work-related injuries, excluding fatalities
21
Own employees 0 0 1 0 0
Contractors 0 1 0 0 1
Total 0 1 1 0 1
Health and Safety
20. Total number of accidents or injuries resulting in one or more days off work (including high consequences injuries).
21. Number of high consequences injuries (classified as such by the Mutual Insurance Company for Industrial Accidents
(Mutua de Accidentes de Trabajo)) due to a serious accident at work resulting in death or damage such that the worker
is unable to recover. does not recover or is not expected to fully recover, his or her pre-accident state of health within six
months (serious injury or accident).
132
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Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
22. LTIFR is calculated as the total number of lost time accidents (1) per million hours divided by the total number of
hours worked.
23. Ratio calculated by the following formula: number of high-consequence injuries (2) * 1,000,000 hours / total hours
worked in the year.
24. Severity rate: calculated by the following formula: days lost because of lost time injuries *1,000 hours/ total worked
in the year.
2025 2024 2023 2022 2021
Ratios
Lost time injury frequency rate (LTIFR)
22
Own employees 2.65 1.31 5.34 5.12 6.09
Contractors 5.72 4.26 3.13 10.15 10.00
Total 4.80 3.33 3.94 8.15 8.48
High-consequence injuries frequency rate
23
Own employees 0.00 0.00 1.34 0.00 0.00
Contractors 0.00 0.61 0.00 0.00 0.77
Total 0.00 0.42 0.49 0.00 0.47
Severity rate
24
Own employees 0.06 0.07 0.27 0.18 0.20
Contractors 0.25 0.12 0.06 0.25 0.28
Total 0.20 0.10 0.14 0.22 0.25
2025 2024 2023 2022 2021
Work-related injuries: Own employees
Main types of
work-related injury Sprain Fracture Sprain Sprain Fracture
Work Accidents by gender:
Female 0 0 0 0 0
Male 2 1 4 4 5
LTIFR by gender:
Female 0 0 0 0 0
Male 3.41 1.64 6.55 6.18 7.37
Rate of gravity by gender:
Female 0 0 0 0 0
Male 0.08 0.08 0.33 0.21 0.25
Work-related injuries: Contractors
Main types of work-
related injury
Contusion Fracture
Cut
wound Sprain Contusion
Work Accidents by gender:
Female 0 0 0 0 1
Male 10 7 4 12 12
LTIFR by gender:
Female 0 0 0 0 7.77
Male 6.26 4.73 3.47 11.27 10.24
Rate of gravity by gender:
Female 0 0 0 0 0.15
Male 0.28 0.13 0.07 0.28 0.31
Occupational diseases and illnesses
Own employees 0 0 0 0 0
Contractors 0 0 0 0 0
Total 0 0 0 0 0
Work-related injuries
133
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
Units 2025 2024 2023 2022 2021
Materials used
Total of materials that are used to produce and package
the organisation’s primary products and services
Renewable (Ore
processed)
t 16,630,699 16,025,738 15,907,894 15,614,946 15,938,933
Non-renewable t 0 0 0 0 0
Principal
consumables 126,384 125,738 117,796 125,675 116,323
Chemical
products
110,723 108,648 98,321 105,744 97,449
Steel (balls) t 15,661 17,090 19,475 19,931 18,875
Units 2025 2024 2023 2022 2021
Non-mining waste generation and management
Total non-mining
waste generation tonnes 2,524 3,822 3,220 3,487 4,219
Hazardous tonnes 199 251 163 186 218
Waste disposed
(landfill)
tonnes 38 104 39 41 70
Waste diverted
from disposal
(waste recy-cled)
tonnes 161 147 124 145 148
Non-hazardous 2,325 3,570 3,057 3,301 4,002
Waste disposed
(landfill)
tonnes 1 1 - 308 481
Waste diverted
from disposal
(waste recy-cled)
tonnes 2,324 3,570 3,057 2,994 3,521
Environment
Materials
Waste
Units 2025 2024 2023 2022 2021
Water withdrawal
Total water withdrawal
million m
3
6.06 5.90 5.88 6.44 7.62
Water withdrawal by source
Surface water (freshwater)
million m
3
4.06 3.57 4.23 4.92 6.49
Mine site water (rainwater
treated in WTP)
million m
3
1.97 2.30 1.62 1.50 1.10
Third party (municipal
water for sanitary use)
million m
3
0.027 0.028 0.026 0.026 0.029
Water discharge
million m
3
- - - - -
Water consumption (Total water
withdrawal – water discharge)
million m
3
6.06 5.90 5.88 6.44 7.62
Water we use in ore treatment plant (operational water)
Total operational water
million m
3
33.22 31.03 33.94 31.05 33.15
Surface water (freshwater)
million m
3
4.06 3.57 4.23 4.92 6.49
Mine site water (rainwater
treated in WTP)
million m
3
1.97 2.30 1.62 1.50 1.10
Recycled water
(processed water)
million m
3
27.16 25.13 28.06 24.61 25.53
Ratio
Operational water used per
tonne of ore processed
m
3
/t 2.00 1.95 2.15 2.01 2.09
Surface water (freshwater)
m
3
/t
0.24 0.22 0.27 0.32 0.41
Mine site water (rainwater
treated in WTP)
m
3
/t
0.12 0.14 0.10 0.10 0.07
Recycled water
(processed water)
m
3
/t
1.63 1.58 1.78 1.60 1.61
% recycled water to total
water consumed
%
81.76 80.97 82.66 79.25 77.02
% surface water withdrawal
water to total water consumed
%
18.24 19.03 17.34 20.75 23.0
Water
134
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
Units
2025 2024 2023 2022
Energy consumption within the organisation
Total fuel
consumption
within the
organisation from
non-renewable
sources
GJ
77,402 66,520 69,597 58,371
Kg
1,815,844
1,560,343 1,632,952 1,369,453
Total electricity
consumption
GJ
1,352,785 1,297,032 1,324,181 1,311,435
Kwh
375,773,730
360,286,982 367,828,225 364,287,687
Total energy
consumption
within the
organisation
25
GJ
1,430,187
1,363,553 1,393,778 1,369,806
Table 11: Electricity intensity
Electricity
intensity
Kwh/t
processed
22.6 22.66 23.29 23.64
GJ/t
processed
0.09
0.082 0.084 0.085
25. Include: HFC fugitive emissions, fixed and mobile combustion and organic matter degradation.
Energy
Units 2025 2024 2023 2022 2021
Scope 1 (direct emissions)*
Gross direct (Scope
1) GHG emissions
t of CO
2
e
6,103 5,294 5,577 2,396 3,171
Scope 2 (energy indirect emissions)
Gross market-based
energy indirect (Scope
2) GHG emissions
t of CO
2
e
93,189 99,782 96,846 100,560 92,992
Total GHG Emissions
(Scope 1 and 2)
t of CO₂e
99,292 105,076 102,423 102,955 96,163
GHG Intensity (Scope 1 + Scope 2)
t of CO
2
e per Kt to annual production
0.33 0.42 0.41 0.41 0.36
Scope 3 (other indirect
emissions)
t of CO
2
e
319,426 311,883 242,814 256,215 256,349
Upstream categories
Purchased goods
and services
26
t of CO
2
e
201,329 197,792 142,640 163,702 157,182
Upstream transportation
and distribution
t of CO
2
e
82,746 83,461 69,886 61,755 64,215
Waste generated
in operations
t of CO
2
e
535 567 524 741
Employee commuting
t of CO
2
e
1,244 1,237 1,255 1,130 1,125
Downstream categories
Downstream
transportation and
distribution
t of CO
2
e
2,340 2,096 2,356 2,403 3,308
Processing of
sold products
t of CO
2
e
31,599 26,729 26,677 26,701 29,778
Climate change
* Includes: HFC fugitive emissions, fixed and mobile combustion and organic matter degradation.
26. Includes: Third-party water consumption, chemical products consumption and explosives consumption for
mining activities.
Units 2025 2024 2023 2022 2021
Other significant emissions
Nitrogen oxides (NOX)
Kg
n/a n/a n/a n/a n/a
Sulphur oxides (SOX)
Kg
n/a n/a n/a n/a n/a
Particles (PM10)
Kg
647,632 725,183 672,954 505,395 560,859
135
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
Units 2025 2024 2023 2022 2021
Budget dedicated to social activities through Atalaya Ri-otinto Foundation € 812,000 963,003 670,667 1,007,597 917,000
% of employees from local community % 68 67 68 68.3 68.3
Units 2025 2024 2023 2022 2021
Total number of suppliers number 1,002 1,039 685 697 677
By region
Spain % 89 93 89 91 92
Europe (excluding Spain) % 7 4 No data available No data available No data available
Other countries (Singapore, Indonesia, Canada, etc.) % 3 3 No data available No data available No data available
By Atalaya company
Atalaya Riotinto Minera S.L.U % 96 66
Cobre San Rafael % 2 18
Atalaya Masa Valverde % 1 8
Atalaya Ossa Morena % 0 8
Number of new suppliers registered in the year number 277 251 No data available No data available No data available
New suppliers assessed against ESG criteria % 48 100 100 100 100
Suppliers identified as having significant actual and potential negative environmental
impacts with which improvements were agreed upon as a result of assessment
number 2 - - - -
Suppliers identified as having significant actual and potential negative social
impacts with which improvements were agreed upon as a result of assessment
number 25 - - - -
Suppliers identified as having significant actual and potential negative environmental
impacts with which relationships were terminated as a result of assessment
number 0 - - - -
Suppliers identified as having significant actual and potential negative social
impacts with which relationships were ter-minated as a result of assessment
number 0 - - - -
Society
Local community
Supply chain
136
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
GRI Index
GRI STANDARD DISCLOSURE Page / Section Reference
GENERAL DISCLOSURES
GRI 2: General Disclosures 2021
2-1 Organisational details
Atalaya Mining Copper S.A.
Registered office details: Paseo las Delicias, 1-3, Seville (Andalusia, Spain)
About Us: Atalaya at A Glance
2-2
Entities included in the organisation’s
sustainability reporting
Our ownership structure as of December 2025
2-3 Reporting period, frequency and contact point
The Atalaya financial and non-financial information reports covers the period 1
2-4 Restatements of information Not applicable for this reporting period.
2-5 External assurance
PricewaterhouseCoopers Auditores, S.L. Concejal Francisco Ballesteros, 4, 41018, Seville (Spain).
The external verification is conducted on annual basis and is on this report.
2-6
Activities, value chain and other
business relationships
About us: Atalaya at a glance; What we do (our value chain); Stakeholder engagement; Responsible Sourcing;
Also, you can visit https://atalayamining.com/
2-7 Employees
Our People; See Sustainability Data annex;
The Company does not have employees under non-guaranteed hours (zero-hours) contracts.
2-8 Workers who are not employees
Our People; See Sustainability Data annex;
Average number of contractor workers at the Riotinto mine in 2025: 290 contractor companies, approximately 774 contractors.
This is the average workforce in 2025 of all collaborating companies. This is an estimated figure according to our record systems.
The type of work they perform is operational and technical work relating to the plant and mining activities.
2-9 Governance structure and composition
Corporate governance; Annual Report: Governance section.
2-10
Nomination and selection of the
highest governance body
Corporate governance; Annual Report: Governance section.
2-11 Chair of the highest governance body
Neil Gregson, Chairman of the Board of Directors
Corporate governance; Annual Report: Governance section.
2-12
Role of the highest governance body in
overseeing the management of impacts
Corporate governance; Stakeholder Engagement;
The Board of Atalaya Copper S.A. delegates authority over the management of economic, social, and
environmental issues to the Chief Executive Officer and other members of the Company’s senior
management. Periodically, through its meetings, the Board supervises the actions carried out.
2-13 Delegation of responsibility for managing impacts
Corporate governance; Annual Report: Governance section.
137
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
GRI STANDARD DISCLOSURE Page / Section Reference
2-14
Role of the highest governance body
in sustainability reporting
Corporate governance; The Director of the Sustainability Committee, also member of the Board
of Directors, is responsible for reviewing and approving the reported information.
2-15 Conflicts of interest
Directors of the Company shall disclose in writing conflicts of interest to the Board or request to have entered
in the minutes of meetings of the Board the nature and extent of such interest. See also, section “Conflict of
interest” in the Financial Statements of the Company. See also our Code of Business Conduct and Ethics.
2-16 Communication of critical concerns Critical concerns are communicated to the Board through the Chief Executive Officer. In 2025 zero critical concerns were raised.
2-17
Collective knowledge of the
highest governance body
The collective knowledge of the Board is mainly derived from the meetings held. Approximately 8 per year.
At these meetings the Council is informed of all material economic, environmental, and social issues.
Annual Report: Governance section.
2-18
Evaluation of the performance of
the highest governance body
The Board considers the ongoing development and improvement of its own performance as a critical input to
effective governance. At least once in each financial year, there must be a performance evaluation and review.
The review is based on a number of goals established for the Board and individual Directors including those for the upcoming
year. The goals are based on corporate requirements and any areas for improvement identified in previous reviews.
The Chairman provides each Director with confidential feedback on his or her performance.
This feedback is used to develop a development plan for each Director.
Annual Report: Governance section.
2-19 Remuneration policies
Annual Report: Governance section (Remuneration); Board remuneration
2-20 Process to determine remuneration Annual Report: Governance section (Remuneration)
2-21 Annual total compensation ratio Omitted. The Company does not currently disclose this information due to confidentiality considerations.
2-22 Statement on sustainable development strategy
CEO Statement; Sustainability Policy
2-23 Policy commitments
Our policies can be found on our website; Human rights and modern slavery; Stakeholder engagement; Local communities.
2-24 Embedding policy commitments
We require our employees, suppliers and other partners to respect our policies and comply with our Code of Conducts.
For more information, please see the Responsible Sourcing section. Business Conduct and Ethics Code
2-25 Processes to remediate negative impacts
For environmental impacts Atalaya has an Environmental Monitoring Plan derived from its Unified Environmental
Authorisation (AAU). In addition, there is a compliance system and complaints channel and stakeholder procedures.
Whistleblower Policy; Our People; Stakeholder engagement.
2-26
Mechanisms for seeking advice
and raising concerns
We aim to promote a nurturing culture and employees may raise concerns internally as outlined in Employee compensation
and benefits. For Proyecto Riotinto we have a formal Feedback Channel. Please also see our Whistleblower Policy.
2-27 Compliance with laws and regulations Atalaya has not experienced any significant instances of non-compliance with laws and regulations during the reporting period.
2-28 Membership associations
Stakeholder engagement
Atalaya is part of the following membership associations:
• AMINER (Asociación de Empresas Investigadoras, Extractoras,
Transformadoras Minero-Metalúrgicas, Auxiliares y de Servicios).
• Pacto Mundial de Naciones Unidas.
• Red de Restauración de Minas y Canteras.
• Mandatum (Asociación en materia de Seguridad y Salud en Andalucía).
Fundación Atalaya Riotinto, is part of the
following member associations:
• AFA (Asociación de Fundaciones y Asociaciones Andaluzas)
• ADR (Asociación para el Desarrollo Local – Cuenca Minera de Riotinto)
2-29 Approach to stakeholder engagement Stakeholder engagement
2-30 Collective bargaining agreements
Commitment to Employee compensation and benefits
138
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
GRI STANDARD DISCLOSURE Page / Section Reference
GRI 3: Material Topics 2021
3-1 Process to determine material topics
Materiality assessment
3-2 List of material topics
Materiality assessment
GRI 201: Economic Performance 2016
201-1 Direct economic value generated and distributed
Financial Performance
201-2
Financial implications and other risks and
opportunities due to climate change
Energy and climate change; Climate Change Report
201-3
Defined benefit plan obligations
and other retirement plans
Employee compensation and benefits
Annual Report: “Notes to the Consolidated Financial Statements”.
201-4 Financial assistance received from government
Financial Performance
3-3 Management of material topics
Financial Performance
GRI 202: Market Presence 2016
202-1
Ratios of standard entry level wage by gender
compared to local minimum wage
Employee compensation and benefits
202-2
Proportion of senior management
hired from the local community
100% of senior management come from Spain (CEO, CFO, and General manager of Atalaya Riotinto Minera).
3-3 Management of material topics
About us: Atalaya at a glance; Local communities
GRI 203: Indirect Economic Impacts 2016
203-1 Infrastructure investments and services supported
Financial Performance; Spotlight: Back to Nature-A Model for Post-Mining Restoration; Local communities
Annual Report: “Operating Review”
203-2 Significant indirect economic impacts
Financial Performance; Local communities;
Annual Report: Strategic Report
3-3 Management of material topics
Financial Performance; Local communities
Annual Report: Sustainability approach
GRI 204: Procurement Practices 2016
204-1 Proportion of spending on local suppliers
Responsible Sourcing
Suppliers in Huelva (local): 33%; Suppliers in Andalusia (regional): 52%; Suppliers in Spain (national): 89%.
3-3 Management of material topics
Responsible Sourcing; Human rights and modern slavery
GRI 205: Anti-corruption 2016
205-1 Operations assessed for risks related to corruption
Operational policies at Proyecto Riotinto
205-2
Communication and training about anti-
corruption policies and procedures
All employees at Atalaya Riotinto Minera have received communication on the compliance system via email.
139
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
GRI STANDARD DISCLOSURE Page / Section Reference
205-3
Confirmed incidents of corruption
and actions taken
No incidents of corruption were identified for the reporting year.
3-3 Management of material topics
Atalaya has a compliance management system through which it assesses and prevents the
possibility of committing crimes, including those related to corruption. This system covers
the operations of Proyecto Riotinto, which is the Company's main asset.
GRI 206: Anti-competitive Behaviour 2016
206-1
Legal actions for anti-competitive behaviour,
anti-trust, and monopoly practices
There were zero legal actions concerning anti-competitive behaviour, anti-trust, and monopoly practices for the reporting year.
3-3 Management of material topics
Annual Report: Corporate Governance (Ethics & Compliance); Risk Management and Principal
Risks; Notes to the Financial Statements-Legal proceedings/contingencies
GRI 207: Tax 2019
207-1 Approach to tax Annual Report: Strategic Report; Audit Committee Report; Principal risks and uncertainties; Notes to the financial Statements
207-2 Tax governance, control, and risk management Annual Report: Strategic Report; Audit Committee Report; Principal risks and uncertainties; Notes to the financial Statements
207-3
Stakeholder engagement and
management of concerns related to tax
Annual Report: Strategic Report; Audit Committee Report; Principal risks and uncertainties; Notes to the financial Statements
207-4 Country-by-country reporting Annual Report: Strategic Report; Audit Committee Report; Principal risks and uncertainties; Notes to the financial Statements
3-3 Management of material topics Annual Report: Strategic Report; Audit Committee Report; Principal risks and uncertainties; Notes to the financial Statements
GRI 301: Materials 2016
301-1 Materials used by weight or volume
Circular economy and efficient resources
301-2 Recycled input materials used
Circular economy and efficient resources
3-3 Management of material topics
Circular economy and efficient resources
ENERGY
GRI 302: Energy 2016
302-1 Energy consumption within the organisation
Energy and climate change
302-2 Energy consumption outside of the organisation Atalaya does not import other forms of energy such as heat, steam or cooling. Nor does it make any energy purchases abroad.
302-3 Energy intensity
Energy and climate change
302-4 Reduction of energy consumption
Energy and climate change
302-5
Reductions in energy requirements
of products and services
This information is not available. We are looking to improve on our disclosures in this area in the coming years.
3-3 Management of material topics
Energy and climate change
140
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
GRI STANDARD DISCLOSURE Page / Section Reference
GRI 303: Water and Effluents 2018
303-1 Interactions with water as a shared resource
Water Management; There is limited information available. We are looking to
improve on our disclosures in this area in the coming years.
303-2 Management of water discharge-related impacts
Water Management; There is limited information available. We are looking to
improve on our disclosures in this area in the coming years.
303-3 Water withdrawal
Water Management; See Sustainability Data annex
303-4 Water discharge
Water Management; See Sustainability Data annex
303-5 Water consumption
Water Management; See Sustainability Data annex
3-3 Management of material topics
Water Management
GRI 101: Biodiversity 2024
101-1 Policies to halt and reverse biodiversity loss
Nature and biodiversity; In upcoming reports, we will continue to expand on this
information. There are no operational sites adjacent to protected areas.
101-2 Management of biodiversity impacts
Nature and biodiversity; In upcoming reports, we will continue to expand on this information.
101-3 Access and benefit-sharing
Nature and biodiversity; In upcoming reports, we will continue to expand on this information.
101-4 Identification of biodiversity impacts
Nature and biodiversity; In upcoming reports, we will continue to expand on this information.
101-5 Locations with biodiversity impacts
Nature and biodiversity; In upcoming reports, we will continue to expand on this information.
101-6 Direct drivers of biodiversity loss
Nature and biodiversity; In upcoming reports, we will continue to expand on this information.
101-7 Changes to the state of biodiversity
Nature and biodiversity; In upcoming reports, we will continue to expand on this information.
101-8 Ecosystem services
Nature and biodiversity; In upcoming reports, we will continue to expand on this information.
3-3 Management of material topics
Nature and biodiversity.
GRI 305: Emissions 2016
305-1 Direct (Scope 1) GHG emis-sions
Energy and climate change; See Sustainability Data annex
305-2 Energy indirect (Scope 2) GHG emissions
Energy and climate change; See Sustainability Data annex
305-3 Other indirect (Scope 3) GHG emissions
Energy and climate change; See Sustainability Data annex
305-4 GHG emissions intensity
See Sustainability Data annex
305-5 Reduction of GHG emissions
Energy and climate change; See Sustainability Data annex
3-3 Management of material topics
Energy and climate change; See Sustainability Data annex
141
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
GRI STANDARD DISCLOSURE Page / Section Reference
GRI 306: Waste 2020
306-1
Waste generation and significant
waste-related impacts
Circular economy and efficient resource management; Responsible mining waste and tailings management
We have limited data available, we are looking to improve on our disclosures in this area in the coming years.
306-2 Management of significant waste-related impacts
Circular economy and efficient resource management; Responsible mining waste and tailings management
We have limited data available, we are looking to improve on our disclosures in this area in the coming years.
306-3 Waste generated
Circular economy and efficient resource management; See Sustainability Data annex
306-4 Waste diverted from disposal
Circular economy and efficient resource management; See Sustainability Data annex
306-5 Waste directed to disposal
Circular economy and efficient resource management; See Sustainability Data annex
3-3 Management of material topics
Circular economy and efficient resource management
GRI 308: Supplier Environmental Assessment 2016
308-1
New suppliers that were screened
using environmental criteria
Responsible Sourcing; Sustainability Data
308-2
Negative environmental impacts in the
supply chain and actions taken
Responsible Sourcing; Sustainability Data
3-3 Management of material topics
Responsible Sourcing
GRI 401: Employment 2016
401-1 New employee hires and employee turnover
Talent attraction & development at Atalaya; Sustainability Data annex
401-2
Benefits provided to full-time employees that are
not provided to temporary or part-time employees
Employee compensation and benefits; Sustainability Data annex
401-3 Parental leave
Talent attraction & development at Atalaya; Employee compensation and benefits
3-3 Management of material topics
Talent attraction & development at Atalaya
GRI 402: Labor/Management Relations 2016
402-1
Minimum notice periods regarding
operational changes
Employee compensation and benefits; See Sustainability Data annex
3-3 Management of material topics
Employee compensation and benefits
GRI 403: Occupational Health and Safety 2018
403-1
Occupational health and safety
management system
Health and safety across Atalaya
403-2
Hazard identification, risk assessment,
and incident investigation
Health and safety across Atalaya; Atalaya Riotinto – Occupational Health and Safety Policy
We are looking to improve on our disclosures in this area in the coming years.
403-3 Occupational health services
Health and safety across Atalaya
403-4
Worker participation, consultation, and
communication on occupational health and safety
Health and safety across Atalaya
142
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
GRI STANDARD DISCLOSURE Page / Section Reference
403-5 Worker training on occupational health and safety
Health and safety across Atalaya
403-6 Promotion of worker health
Health and safety across Atalaya
403-7
Prevention and mitigation of occupational
health and safety impacts directly
linked by business relationships
Health and safety across Atalaya
403-8
Workers covered by an occupational health
and safety management system
Health and safety across Atalaya
403-9 Work-related injuries
Health and safety across Atalaya; Sustainability Data annex
403-10 Work-related ill health
Health and safety across Atalaya; Sustainability Data annex
3-3 Management of material topics
Occupation Health and Safety Policy
GRI 404: Training and Education 2016
404-1 Average hours of training per year per employee
Sustainability Data annex
404-2
Programmes for upgrading em-ployee
skills and transition assistance programs
Talent attraction and development at Atalaya
We are looking to improve on our disclosures in this area in the coming years.
404-3
Percentage of employees receiving regular
performance and career development reviews
Talent attraction and development at Atalaya; Sustainability Data annex
We are looking to improve on our disclosures in this area in the coming years.
3-3 Management of material topics
Talent attraction and development at Atalaya
GRI 405: Diversity and Equal Opportunity 2016
405-1 Diversity of governance bodies and employees
Diversity, equality and inclusion; Sustainability Data annex
405-2
Ratio of basic salary and re-
muneration of women to men
Diversity, equality and inclusion; Sustainability Data annex
3-3 Management of material topics
Diversity, equality and inclusion
GRI 406: Non-discrimination 2016
406-1
Incidents of discrimination and
corrective actions taken
Zero
3-3 Management of material topics
Diversity, equality and inclusion
GRI 407: Freedom of Association and Collective Bargaining 2016
407-1
Operations and suppliers in which the
right to freedom of association and
collective bar-gaining may be at risk
The main operation developed by Atalaya Mining Copper S.A. (Proyecto Riotinto) is located in Spain. Its activities are
carried out in accordance with the legal framework in force and therefore no risk is estimated in this regard.
3-3 Management of material topics
Employee compensation and benefits
143
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
GRI STANDARD DISCLOSURE Page / Section Reference
GRI 408: Child Labor 2016
408-1
Operations and suppliers at significant
risk for incidents of child labor
In accordance with the provisions of our Code of Ethics, Atalaya carries out its activities in accordance with
the legislation in the environments in which it operates. Given that its main operations are located in Spain,
the legal framework ensures the absence of risks in terms of child labour, forced labour or respect for human
rights. As far as suppliers are concerned, most of them are located in Spain. In addition, Atalaya is committed
to complying with the principles of the Global Compact that make direct reference to this aspect.
Human rights and modern slavery
GRI 409: Forced or Compulsory Labor 2016
409-1
Operations and suppliers at significant risk
for incidents of forced or compulsory labor
See response to 408-1
Human rights and modern slavery
GRI 410: Security Practices 2016
410-1
Security personnel trained in human
rights policies or proce-dures
Atalaya hires companies located in Spain for the security services of its facilities. These com-panies are subject to
the legal framework in force in the country. The training of security agents is provided by these companies.
GRI 411: Rights of Indigenous Peoples 2016
411-1
Incidents of violations involving
rights of indigenous peoples
Zero incidents in the reporting period.
GRI 413: Local Communities 2016
413-1
Operations with local communi-ty engagement,
impact as-sessments, and development programs
Local communities; Community engagement approach; Community Relations Policy
We are looking to improve on our disclosures in this area in the coming years.
413-2
Operations with significant actual and potential
negative impacts on local communities
Local communities; Community engagement approach; Proyecto Touro (Galicia, Spain)
We are looking to improve on our disclosures in this area in the coming years.
3-3 Management of material topics
Local communities; Community engagement approach;
GRI 414: Supplier Social Assessment 2016
414-1
New suppliers that were screened
using social criteria
Responsible Sourcing
There were 297 new suppliers registered in 2025.
78 suppliers were assessed for social impacts (health and safety) on site.
50% of suppliers have been assessed based on ESG criteria in the reporting period.
414-2
Negative social impacts in the supply
chain and actions taken
Responsible Sourcing
3-3 Management of material topics
Responsible Sourcing
GRI 415: Public Policy 2016
415-1 Political contributions Atalaya does not make any contribution to political organisations.
144
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
Non-Financial Information Content Index
Non-financial information to be disclosed GRI Disclosures Reference pages and responses
0. General Information
Brief description of the Group’s business model (including
its business environment, organisation and structure,
markets, ob-jectives and strategies, plus the main factors
and trends that can affect its future performance).
2-1
2-2
2-3
2-4
2-5
2-6
2-7
2-9
2-10
2-11
2-12
2-13
2-14
2-15
2-16
2-17
2-18
2-22
Atalaya at a glance; Our approach to sustainability
See Annual Report: “About Atalaya / Company Overview”, “Business and Operations
Review”, “Strategy”, and “Principal Risks and Uncertainties” sections.
Atalaya Riotinto Minera SLU’s main customer is EMED Marketing, a Company of the Atalaya Group,
which is responsible for 100% of sales. In turn, this Company delivers to the final recipient in accordance
with existing “offtaker” contracts, whose counterparties are: IXM S.A., Trafigura y Transamine.
In 2025, 20.2% of our copper concentrate was exported to Europe (7.1% was sent to Atlantic
Copper (Huelva, Spain) and 13.1% to other countries in Europe). 79.8% was sent to China.
A description of the Group's policies that includes due diligence
procedures for identifying, assessing, preventing and mitigating
risks and significant impacts, and for verifying and controlling,
including the measures in which they have been adopted.
2-23
2-27
3-1
3-2
3-3
Annual Report: For information about measures adopted, please consider Financial Statements of the
Company (Section: “Risk management and principal risk factors” and “Audit, Risk and Internal Control”).
Our approach to sustainability; Corporate governance
With regards to non-financial risks, please consider the different sections in this report regarding the
environmental, social and good-governance aspects covered by the Materiality assessment section.
See also a comprehensive list of our policies on our website.
The results of these policies, including key indicators of relevant
non-financial results that allow the monitoring and evaluation of
progress and that favour the comparability between companies
and sectors, in accordance with national, European or interna-
tional frameworks of reference used for each matter.
2-24
3-3
14-25
Our People; Environment; Responsible Sourcing
Environment Data Tables
Sustainability Data
The main risks related to these matters associated with the Group's
activities (business relationships, products or services) that may have
a negative effect in these areas, and how the Group manages these
risks, explaining the procedures used to detect and assess them in
accordance with national, European or international frameworks
of reference for each matter. It must include information about
the impacts that have been detected, offering a breakdown, in
particular of the main risks in the short, medium and long term.
2-6
205-1
413-1
407-1
408-1
409-1
206-1
Corporate governance
Materiality assessment
ATYM – Risk Management Policy
Annual Report: “Risk management and principal risk factors”
Key indicators of non-financial results that are relevant regarding
the specific business activity and that meet the standards
of comparability, materiality, relevancy and reliability.
GRI 2024
Mining Sector
Standards
GRI Index
GRI 2024 Mining Sector Standards
GRI Index
Table of equivalences with reporting requirements under Spain’s Act 11/2018
145
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
Non-financial information to be disclosed GRI Disclosures Reference pages and responses
1. Environmental Information
Detailed information on the current and foreseeable effects of
the activities of the Company in the environment and, where
appropriate, health and safety, environmental evaluation or
certification procedures; the resources dedicated to the preven-tion
of environmental risks; the application of the principle of caution,
the amount of provisions and guarantees for environ-mental risk.
308-1
308-2
Responsible Sourcing; Health and safety across Atalaya;
Our environmental commitment; Tailings and Safety Management
Atalaya’s main mining operations Riotinto is ISO 14001 certified.
Contamination and pollution
Measures to prevent, reduce or repair CO
2
emissions that
seriously affect the environment, taking into account any
form of air pollution, including noise and light pollution.
3-3
305-5
305-6
305-7
Energy and climate change; Air quality and noise
Note: Light pollution is not a material topic for Atalaya Mining Copper S.A.
Circular economy and waste prevention and management
Waste prevention measures, waste recycling measures,
waste reuse measures; other forms of waste recovery
and reuse; actions against food waste.
301-2
301-3
306-1
306-2
306-3
306-4
306-5
14-5
14-6
14-15
Circular economy and efficient resource management; Sustainability Data-Environment
Note: Food waste is not a material topic for Atalaya Mining Copper S.A.
Sustainable use of resources:
Use and supply of water according to local limitations . 303-1
303-2
303-3
303-4
303-5
301-1
301-2
302-1
302-2
302-3
302-4
302-5
14-7
Water Management
Consumption of raw materials and measures
taken to improve the efficiency of its use.
Circular economy and efficient resource management; Water
Management; Energy and climate change
Energy: direct and indirect consumption, measures taken to
im-prove energy efficiency, use of renewable energies.
Energy and climate change
Climate change
Important elements of greenhouse gas emissions generated as
a business activity (including goods and services produced).
305-1
305-2
305-3
305-4
305-5
201-1
201-2
201-3
14-1
14-2
14-3
Energy and climate change
Measures taken to adapt to the consequences of climate change.
Energy and climate change; Climate Change Report 2025
Reduction targets voluntarily established in the medium
and long term to reduce greenhouse gas emissions
and means implement-ed for this purpose.
Energy and climate change; Climate Change Report 2025
Protection of biodiversity:
Measures taken to preserve or restore biodiversity.
304-1
304-2
304-3
304-4
306-5
14-4
Nature and biodiversity
There are no operational sites adjacent to protected areas.
Impacts caused by the activities or operations of protected areas.
Nature and biodiversity; Environmental restoration plan
There are no operational sites adjacent to protected areas.
146
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
Non-financial information to be disclosed GRI Disclosures Reference pages and responses
2. Social
Employment
Total number and distribution of employees by gender,
age, country and professional classification.
2-7
2-8
405-1
202-2
401-1
401-2
401-3
Diversity, equality and inclusion; Sustainability data – Our People
Total number and distribution of types of employment contracts.
Talent attraction & development at Atalaya; Sustainability data – Our People
Annual average of permanent contracts, temporary contracts and
part-time contracts by gender, age and professional classification.
Talent attraction & development at Atalaya; Diversity, equality
and inclusion; Sustainability data – Our People
Number of dismissals by gender, age and professional classification.
2-7
2-8
405-1
202-2
401-3
Talent attraction & development at Atalaya; Diversity, equality
and inclusion; Sustainability data – Our People
Average remuneration and evolution thereof broken down
by gender, age and professional or similar classification.
405-2 202-1
Talent attraction & development at Atalaya; Diversity, equality
and inclusion; Sustainability data – Our People
Gender pay gap and remuneration of same or
average job positions of the Company.
405-2
Diversity, equality and inclusion; Sustainability data – Our People
Average remuneration of Directors and officers, including
variable remuneration, attendance fees, severance pay,
payment into long-term savings benefit systems and
any other remuneration broken down by gender.
2-19
2-20
2-21
405-2
Diversity, equality and inclusion; ATYM – Board Diversity Policy
Implementation of labour disengagement policies. 3-3
Employee benefits and compensation
Employees with disabilities. 405-1
Diversity, equality and inclusion; Employee benefits and compensation
Organisation of work
Organisation of work time. 3-3 402-1
Working Hours
Number of hours of absenteeism.
Measures to facilitate enjoyment of reconciliation and encouragement
of the responsible co-exercise of responsibility by both parents.
403-9
403-10
3-3
401-3
Employee benefits and compensation; Health and safety
across Atalaya; Sustainability data – Our People
Health and Safety
Conditions of health and safety in the workplace.
3-3
403-1
403-2
403-3
403-7
401-2
403-6
403-8
14-16
Health and safety across Atalaya
Occupational accidents, in particular their frequency and severity,
as well as occupational illnesses. Broken down by gender.
403-9
403-10
Health and safety across Atalaya; Atalaya Riotinto – Major Accident
Prevention Policy; Sustainability data – Our People
147
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
Non-financial information to be disclosed GRI Disclosures Reference pages and responses
Social relations
Organisation of social dialogue (including procedures to
inform and consult staff and negotiate with them).
3-3
Talent attraction & development at Atalaya; Stakeholder engagement
Percentage of employees covered by collective
bargaining agreements by country.
2-30
407-1
14-20
Employee benefits and compensation
Balance of the collective bargaining agreements (particularly
in the field of health and safety in the workplace). Mechanisms
and procedures that employers have for encouraging the
involvement of workers in management of the Company, in
terms of information, consultation and participation.
403-1
403-4
Employee benefits and compensation; Talent attraction & development at Atalaya;
Stakeholder engagement
Training
The policies implemented in the field of training. 3-3 404-2
Talent attraction & development at Atalaya
Total number of hours of training by professional categories.
404-1
403-5
404-3
14-8
Talent attraction & development at Atalaya; Sustainability data – Our People
Accessibility
Universal accessibility of disabled persons. 3-3
Diversity, equality and inclusion
Equality
Measures adopted to promote equality of treatment and opportunities
between women and men, Equality plans (Chapter III of Organic
Law 3/2007, of 22 March, for the effective equality of women and
men) protocols against sexual and gender-based harassment
measures adopted to promote the employment, integration and
universal accessibility of disabled persons policy against all types
of discrimination and, if applicable, management of diversity.
3-3
405-1-1
14-21
Diversity, equality and inclusion
Zero incidents of discrimination and corrective action.
3. Human Rights
Application of due diligence procedures in the field of Human Rights. 2-25 3-3
Human rights and modern slavery; Responsible Sourcing; Prevention of Modern Slavery Statement
Prevention of the risks of Human Rights violations and,
where appropriate, measures to mitigate, manage
and repair any possible abuses committed.
2-23
2-24
2-25
2-26
410-1
Human rights and modern slavery; Responsible Sourcing; Prevention of Modern Slavery Statement
Complaints about cases of human rights violations. 406-1 411-1
Responsible Sourcing; Diversity, equality and inclusion; Human rights and modern slavery
Promotion and compliance with the provisions of the
fundamental conventions of the International Labour.
Organisation regarding respect for freedom of
association and the right to collective bargaining.
3-3
407-1
406-1
409-1
408-1
14-19
14-20
Human rights and modern slavery; Employee benefits and compensation
Elimination of discrimination in respect of employment
and occupation; elimination of forced or compulsory
labour; and the effective abolition of child labour.
Diversity, equality and inclusion; Human rights and modern slavery
148
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
Non-financial information to be disclosed GRI Disclosures Reference pages and responses
4. Fight against corruption
Measures taken to prevent corruption and bribery.
2-23
2-26
3-3
205-1
205-2
205-3
415-
114-22
14-23
14-24
Corporate governance
Atalaya has a compliance management system through which it assesses and prevents
the possibility of committing crimes, including those related to corruption. This system
covers the operations of Proyecto Riotinto, which is the Company’s main asset.
Atalaya has an internally distributed Anti-Bribery and Anti-Corruption Policy.
Measures to combat money laundering.
Corporate governance
Contributions to non-profit foundations and entities. 413-1
Corporate governance
5. Information on the Company
Commitments of the Company to sustainable development:
The impact of the Company’s activity on
employment and local development.
3-3
203-1
203-2
413-1
413-2
14-10
14-11
14-12
Talent attraction & development at Atalaya; Local communities
The impact of the Company’s activity on local
towns and villages and in the country.
203-1
203-2
411-1
413-1
413-2
Local communities
Relations maintained with the representatives of local
communities and the modalities of dialogue with them.
2-29
Local communities; Stakeholder engagement; ATYM – Community Relations Policy
Association or sponsorship actions. 2-28
Atalaya at a glance
Atalaya is part of the following membership associations:
• AMINER (Asociación de Empresas Investigadoras,
Extractoras, Transformadoras Minero-
Metalúrgicas, Auxiliares y de Servicios)
• Pacto Mundial de Naciones Unidas
• Red de Restauración de Minas y Canteras
• Mandatum (Asociación en materia de
Seguridad y Salud en Andalucía)
Fundación Atalaya Riotinto is part of the
following member associations:
• AFA (Asociación de Fundaciones y
Asociaciones Andaluzas)
• ADR (Asociación para el Desarrollo Local
– Cuenca Minera de Riotinto)
Outsourcing and suppliers:
Inclusion of social, gender equality and environmental
issues in the procurement policy.
2-6 3-3
Responsible Sourcing
Consideration in relations with suppliers and
subcontractors of their responsibility.
204-1
308-1
308-2
414-1
414-2
14-14
Responsible Sourcing
Supervision and audit systems and resolution thereof. 3-3
Responsible Sourcing
149
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
Non-financial information to be disclosed GRI Disclosures Reference pages and responses
Consumers
Measures for the health and safety of consumers.
3-3
416-1
417-1
417-2
417-3
Atalaya manages the delivery of its products to its customers in accordance with the
Company’s existing quality policy. The characteristics of the product and of the customers
who purchase it do not require the adoption of specific health and safety measures.
Atalaya Riotinto – Quality Policy
Systems for complaints received and resolution thereof. 416-2 418-1 Zero
Tax information
The profits obtained country by country.
207-1
207-2
207-3
207-4
14-9
Financial Performance
Taxes on benefits paid.
207-1
207-2
207-3
207-4
Financial Performance
Public grants received. 201-4 14-23
Financial Performance
150
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
GRI 2024 Mining Sector Standards
GRI Topic Standards disclosures. Required reporting Page reference
14. 1 GHG emissions
Disclosure 3-3 Management of material topics
Energy and climate change; Atalaya Climate Change Report 2025
Disclosure 302-1 Energy consumption within the organisation
Energy and climate change
Disclosure 302-2 Energy consumption outside of the organisation Atalaya does not import other forms of energy such as heat, steam or cooling. Nor does it make any energy purchases abroad.
Disclosure 302-3 Energy intensity
Energy and climate change
Disclosure 305-1 Direct (Scope 1) GHG emissions
Energy and climate change
Disclosure 305-2 Energy indirect (Scope 2) GHG emissions
Energy and climate change
Disclosure 305-3 Other indirect (Scope 3) GHG emissions
Energy and climate change
Disclosure 305-4 GHG emissions intensity
Energy and climate change
Disclosure 305-5 Reduction of GHG emissions
Energy and climate change
14.2 Climate adaptation and resilience
Disclosure 3-3 Management of material topics Atalaya Climate Change Report 2025 (Strategy - Climate Risk Management)
Disclosure 201-2 Financial implications and other
risks and opportunities due to climate change
Atalaya Climate Change Report 2025 (Strategy - Climate Risk Management)
14.3 Air emissions
Disclosure 3-3 Management of material topics
Air quality and noise
Disclosure 305-7 Nitrogen oxides (NOx), sulfur oxides
(SOx), and other significant air emissions
Atalaya does not have data on NOx and SOx but will look to include this data in coming years. Air quality and noise
14.4 Biodiversity
Disclosure 3-3 Management of material topics
Nature and biodiversity; In upcoming reports, we will continue to expand on this
information. There are no operational sites adjacent to protected areas.
Disclosure 101-1 Policies to halt and reverse biodiversity loss
Nature and biodiversity; In upcoming reports, we will continue to expand on this information.
Disclosure 101-2 Management of biodiversity impacts
Nature and biodiversity; In upcoming reports, we will continue to expand on this information.
Disclosure 101-3 Access and benefit-sharing
Nature and biodiversity; In upcoming reports, we will continue to expand on this information.
Disclosure 101-4 Identification of biodiversity impacts
Nature and biodiversity; In upcoming reports, we will continue to expand on this information.
Disclosure 101-5 Locations with biodiversity impacts
Nature and biodiversity; In upcoming reports, we will continue to expand on this information.
151
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
GRI Topic Standards disclosures. Required reporting Page reference
Disclosure 101-6 Direct drivers of biodiversity loss
Nature and biodiversity; In upcoming reports, we will continue to expand on this information
Disclosure 101-7 Changes to the state of biodiversity
Nature and biodiversity; In upcoming reports, we will continue to expand on this information
Disclosure 101-8 Ecosystem services
Nature and biodiversity; In upcoming reports, we will continue to expand on this information
14.5 Waste
Disclosure 3-3 Management of material topics
Circular economy and efficient resources; Responsible mining waste and tailings management
Disclosure 306-1 Waste generation and
significant waste-related impacts
Circular economy and efficient resources; Responsible mining waste and tailings management
Disclosure 306-2 Management of significant waste-related impacts
Circular economy and efficient resources; Responsible mining waste and tailings management
Disclosure 306-3 Waste generated
Circular economy and efficient resources; Responsible mining waste and tailings management
Disclosure 306-4 Waste diverted from disposal
Circular economy and efficient resources; Responsible mining waste and tailings management
Disclosure 306-5 Waste directed to disposal
Circular economy and efficient resources; Responsible mining waste and tailings management
14.6 Tailings
Disclosure 3-3 Management of material topics
Responsible mining waste and tailings management; GISTM Report 2025
14.7 Water and effluents
Disclosure 3-3 Management of material topics
Water Management
Disclosure 303-1 Interactions with water as a shared resource
Water Management
Disclosure 303-2 Management of water discharge-related impacts
Water Management
Disclosure 303-3 Water withdrawal
Water Management
Disclosure 303-4 Water discharge
Water Management
Disclosure 303-5 Water consumption
Water Management
14.8 Closure and rehabilitation
Disclosure 3-3 Management of material topics
Employee benefits and compensation; Environmental restoration plan
Disclosure 402-1 Minimum notice periods
regarding operational changes
Employee benefits and compensation
Disclosure 404-2 Programs for upgrading employee
skills and transition assistance programs
Talent attraction & development at Atalaya; Local communities; Environmental restoration plan
14.8.9 Post mining transition
Local communities; GISTM Report 2025
14.9 Economic impacts
Disclosure 3-3 Management of material topics
Financial Performance; Local communities; Annual Report: “Sustainability approach”
Disclosure 201-1 Direct economic value generated and distributed
Financial Performance;
Annual Report: “Consolidated financial statements”; “Notes to the consolidated financial statements”
152
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
GRI Topic Standards disclosures. Required reporting Page reference
Disclosure 203-1 Infrastructure investments and services supported
Financial Performance; Spotlight: Back to Nature-A Model for Post-Mining Restoration; Local communities
Annual Report: “Operating Review”
Disclosure 203-2 Significant indirect economic impacts
Financial Performance; Local communities; Annual Report: Strategic Report
Disclosure 204-1 Proportion of spending on local suppliers
Responsible Sourcing
14.10 Local communities
Disclosure 3-3 Management of material topics
Local communities; Community engagement approach
Disclosure 413-1 Operations with local community engagement,
impact assessments, and development programs
Local communities; Community engagement approach
Disclosure 413-2 Operations with significant actual and
potential negative impacts on local communities
Local communities; Community engagement approach
14.11 Rights of Indigenous Peoples
Disclosure 3-3 Management of material topics
In accordance with the provisions of our Code of Ethics, Atalaya carries out its activities in accordance
with the legislation in the environments in which it operates. Given that its main operations are located
in Spain, the legal framework ensures the absence of risks in terms of human rights or Indigenous
People. In addition, Atalaya is committed to complying with the principles of the Global Compact that
make direct reference to this aspect.Local communities; Community engagement approach
Disclosure 411-1 Incidents of violations involving
rights of Indigenous Peoples
Local communities; Community engagement approach
Zero incidents for the reporting period.
14.12 Land and resource rights
Disclosure 3-3 Management of material topics
Local communities; Community engagement approach
No involuntary resettlement has taken place. No violations of land have taken place.
14.13 Artisanal and small-scale mining
Disclosure 3-3 Management of material topics This is not material for Atalaya Mining’s operations.
14.14 Security practices practices
Disclosure 3-3 Management of material topics
Atalaya hires companies located in Spain for the security services of its facilities. These companies are subject to
the legal framework in force in the country. The training of security agents is provided by these companies.
Disclosure 410-1 Security personnel trained in
human rights policies or procedures
14.15 Critical incident management
Disclosure 3-3 Management of material topics
Health and safety across Atalaya
Disclosure 306-3 Significant spills Zero incidents of significant spills
14.16 Occupational health and safety
Disclosure 3-3 Management of material topics
Health and safety across Atalaya
Disclosure 403-1 Occupational health and
safety management system
Health and safety across Atalaya
153
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
GRI Topic Standards disclosures. Required reporting Page reference
Disclosure 403-2 Hazard identification, risk
assessment, and incident investigation
Health and safety across Atalaya
Disclosure 403-3 Occupational health services
Health and safety across Atalaya
Disclosure 403-4 Worker participation, consultation, and
communication on occupational health and safety
Health and safety across Atalaya
Disclosure 403-5 Worker training on occupational health and safety
Health and safety across Atalaya
Disclosure 403-6 Promotion of worker health
Health and safety across Atalaya
Disclosure 403-7 Prevention and mitigation of occupational health
and safety impacts directly linked by business relationships
Health and safety across Atalaya
Disclosure 403-8 Workers covered by an occupational
health and safety management system
Health and safety across Atalaya
Disclosure 403-9 Work-related injuries
Health and safety across Atalaya
Disclosure 403-10 Work-related ill health
Health and safety across Atalaya
14.19 Forced labor and modern slavery
Disclosure 3-3 Management of material topics
In accordance with the provisions of our Code of Ethics, Atalaya carries out its activities in accordance with
the legislation in the environments in which it operates. Given that its main operations are located in Spain,
the legal framework ensures the absence of risks in terms of child labour, forced labour or respect for human
rights. As far as suppliers are concerned, most of them are located in Spain. In addition, Atalaya is committed
to complying with the principles of the Global Compact that make direct reference to this aspect.
Responsible Sourcing; Human rights and modern slavery
Disclosure 409-1 Operations and suppliers at significant
risk for incidents of forced or compulsory labor
Responsible Sourcing; Human rights and modern slavery
Disclosure 414-1 New suppliers that were
screened using social criteria
Responsible Sourcing
14.20 Freedom of association and collective bargaining
Disclosure 3-3 Management of material topics
Employee compensation and benefits
Disclosure 407-1 Operations and suppliers in which the right to
freedom of association and collective bargaining may be at risk
Employee compensation and benefits
All 165 contractors working on-site at Atalaya in 2025 were covered by applicable collective labour agreements (100%).
Across the wider supplier base (2,984 active suppliers), verified information indicates that at least 5.52%-corresponding
to on-site contractors-operate under collective bargaining frameworks, with additional coverage expected among
indirect suppliers. The principal agreements applicable to contractor employees relate to the construction and
industrial assembly sectors, supporting workers’ rights to freedom of association and collective bargaining.
14.21 Reporting on non-discrimination and equal opportunity
Disclosure 3-3 Management of material topics
Diversity, equality and inclusion
Disclosure 202-2 Proportion of senior management
hired from the local community
100% of senior management come from Spain (CEO, CFO, and Manager Director of Atalaya Riotinto Minera)
154
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
GRI Topic Standards disclosures. Required reporting Page reference
Disclosure 401-3 Parental leave
Employee compensation and benefits
Disclosure 404-1 Average hours of training per year per employee
Talent attraction & development at Atalaya
Disclosure 405-1 Diversity of governance bodies and employees
Diversity, equality and inclusion; Annual Report: “ Board of Directors”; “Composition, Succession and Evaluation”
Disclosure 405-2 Ratio of basic salary and
remuneration of women to men
Diversity, equality and inclusion
Disclosure 406-1 Incidents of discrimination
and corrective actions taken
Zero
14.22 Anti-corruption
Disclosure 3-3 Management of material topics
Corporate governance
Disclosure 205-1 Operations assessed for risks related to corruption
Atalaya has a compliance management system through which it assesses and prevents
the possibility of committing crimes, including those related to corruption. This system
covers the operations of Proyecto Riotinto, which is the Company’s main asset.
In 2025, there has been no change in this respect and all operations were evaluated for risks related
to corruption, in centres where there are administration and purchasing personnel.
Disclosure 205-2 Communication and training about
anti-corruption policies and procedures
Atalaya has an internally distributed Anti-Bribery and Anti-Corruption Policy
Disclosure 205-3 Confirmed incidents of
corruption and actions taken
Zero
14.23 Payments to governments
Disclosure 3-3 Management of material topics Atalaya does not make any contribution to political organisations.
Disclosure 201-1 Direct economic value generated and distributed
Financial Performance
Disclosure 201-4 Financial assistance received from government
Financial Performance
Disclosure 207-1 Approach to tax Annual Report: Strategic Report; Audit Committee Report; Principal risks and uncertainties; Notes to the Financial Statements
Disclosure 207-2 Tax governance, control, and risk management Annual Report: Strategic Report; Audit Committee Report; Principal risks and uncertainties; Notes to the Financial Statements
Disclosure 207-3 Stakeholder engagement and
management of concerns related to tax
Annual Report: Strategic Report; Audit Committee Report; Principal risks and uncertainties; Notes to the Financial Statements
Disclosure 207-4 Country-by-country reporting Annual Report: Strategic Report; Audit Committee Report; Principal risks and uncertainties; Notes to the Financial Statements
14.24 Public Policy
Disclosure 3-3 Management of material topics This is not material for Atalaya Mining’s operations.
Disclosure 415-1 Political contributions Atalaya does not make any contribution to political organisations.
14.25 Conflict-affected high-risk areas
Disclosure 3-3 Management of material topics
In accordance with the provisions of our Code of Ethics, Atalaya carries out its activities in accordance with the
legislation in the environments in which it operates. Given that its main operations are located in Spain, the legal
framework ensures the absence of risks in terms of human rights or Indigenous People. In addition, Atalaya is
committed to complying with the principles of the Global Compact that make direct reference to this aspect.
155
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
SASB Content Index
Category Metric Unit Code Page reference
Greenhouse
Gas Emissions
Gross global Scope 1 emissions, percentage covered
under emissions-limiting regulations
Metric tonnes (t) CO₂-e,
Percentage (%)
EM-MM-110a.1
Energy and climate change
Discussion
and Analysis
Discussion of long- and short-term strategy or plan to
manage Scope 1 emissions, emissions reduction targets,
and an analysis of performance against those targets
n/a EM-MM-110a.2
Energy and climate change
Air Quality
Air emissions of the following pollutants: (1) CO₂, (2) NOx
(excluding N2O), (3) SOx, (4) particulate matter (PM10), (5) mercury
(Hg), (6) lead (Pb), and (7) volatile organic compounds (VOCs)
Metric tonnes (t) EM-MM-120a.1
Air quality and noise
Energy
Management
(1) Total energy consumed, (2) percentage grid
electricity, and (3) percentage renewable
Gigajoules (GJ),
Percentage (%)
EM-MM-130a.1
Energy and climate change
Water
Management
(1) Total water withdrawn, (2) total water consumed; percentage of
each in regions with High or Extremely High Baseline Water Stress
Thousand cubic metres
(m³), Percentage (%)
EM-MM-140a.1
Water Management
Compliance with
Water Regulations
Number of incidents of non-compliance associated with
water quality permits, standards, and regulations
Number EM-MM-140a.2
Water Management
Waste &
Hazardous
Total weight of non-mineral waste generated Metric tonnes (t) EM-MM-150a.4
Circular economy and efficient resources
Total weight of tailings produced Metric tonnes (t) EM-MM-150a.5
Responsible mining waste and tailings management
Total weight of waste rock generated Metric tonnes (t) EM-MM-150a.6
Responsible mining waste and tailings management
Total weight of hazardous waste generated Metric tonnes (t) EM-MM-150a.7
Responsible mining waste and tailings management
Total weight of hazardous waste recycled Metric tonnes (t) EM-MM-150a.8
Responsible mining waste and tailings management
Number of significant incidents associated with
hazardous materials and waste management
Number EM-MM-150a.9
There were no significant incidents
associated with hazardous materials.
Description of waste and hazardous materials management
policies and procedures for active and inactive operations
Discussion and Analysis EM-MM-150a.10
Responsible mining waste and tailings management
Biodiversity
Impacts
Description of environmental management
policies and practices for active sites
Discussion and Analysis EM-MM-160a.1
Nature and biodiversity
Environmental Policy
Percentage of mine sites where acid rock drainage
is: (1) predicted to occur, (2) actively mitigated,
and (3) under treatment or remediation
Percentage (%) EM-MM-160a.2
(1) Predicted to occur: 100%; (2) Actively mitigated: Proyecto
Riotinto achieved a 50% reduction of base pollutant
load.; (3) The treatment target of the base pollutant load
for the eleventh year of operation (2026) is 100%.
Percentage of (1) proved and (2) probable reserves in or near sites
with protected conservation status or endangered species habitat
Percentage (%) EM-MM-160a.3 There are no operational sites adjacent to protected areas.
156
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
Category Metric Unit Code Page reference
Security, Human
Rights & Rights
of Indigenous
Peoples
Percentage of (1) proved and (2) probable
reserves in or near areas of conflict
Percentage (%) EM-MM-210a.1
In accordance with the provisions of our Code of Ethics,
Atalaya carries out its activities in accordance with the
legislation in the environments in which it operates.
Given that its main operations are located in Spain, the
legal framework ensures the absence of risks in terms of
human rights or Indigenous People. In addition, Atalaya is
committed to complying with the principles of the Global
Compact that make direct reference to this aspect.
Percentage of (1) proved and (2) probable
reserves in or near indigenous land
Percentage (%) EM-MM-210a.2
1) Zero
2) Zero
Discussion of engagement processes and due diligence
practices with respect to human rights, indigenous
rights, and operation in areas of conflict
Discussion and Analysis EM-MM-210a.3
Local communities
Stakeholder engagement
Community
Relations
Discussion of process to manage risks and opportunities
associated with community rights and interests
Discussion and Analysis EM-MM-210b.1
Local communities
Stakeholder engagement
(1) Number and (2) duration of non-technical delays Number, Days EM-MM-210b.2
Indicator not available. Atalaya will implement
systems to measure this indicator in its next
edition of the Sustainability Report.
Labour Practices
Percentage of active workforce employed
under collective agreements
Percentage (%) EM-MM-310a.1
Employee benefits and compensation
(1) Number and (2) duration of strikes and lockouts Number, Days EM-MM-310a.2 There were no strikes or lockouts in 2025.
Workforce
Health & Safety
(1) All-incidence rate, (2) fatality rate, (3) near miss
frequency rate (NMFR), and (4) average hours of
health, safety, and emergency response training for
(a) direct employees and (b) contract employees
Rate EM-MM-320a.1
Health and safety across Atalaya
Business Ethics
& Transparency
Description of the management system for the prevention
of corruption and bribery throughout the value chain
Discussion and Analysis EM-MM-510a.1
Atalaya has an internal Anti-Bribery and Anti-Corruption Policy.
Corporate governance
Production in countries that have the 20 lowest rankings in
Transparency International’s Corruption Perception Index
Metric tonnes
(t) saleable
EM-MM-510a.2
Atalaya mining only has activity in Spain, which
is not in the 20 lowest rankings in Transparency
International’s Corruption Perception Index.
Tailings Storage
Facilities
Management
Tailings storage facility inventory table: (1) facility name, (2) location,
(3) ownership status, (4) operational status, (5) construction
method, (6) maximum permitted storage capacity, (7) current
amount of tailings stored, (8) consequence classification, (9)
date of most recent independent technical review, (10) material
findings, (11) mitigation measures, (12) site-specific EPRP
Various EM-MM-540a.1
Responsible mining waste and tailings management
GISTM Report 2025
Summary of tailings management systems and
governance structure used to monitor and maintain
the stability of tailings storage facilities
Discussion and Analysis EM-MM-540a.2
Responsible mining waste and tailings management
GISTM Report 2025
Approach to development of Emergency Preparedness
and Response Plans (EPRPs) for tailings storage facilities
Discussion and Analysis EM-MM-540a.3
Responsible mining waste and tailings management
GISTM Report 2025
157
ATALAYA MINING · SUSTAINABILITY REPORT 2 025
Introduction
Atalaya at a glance
Our approach to
sustainability
Corporate Governance
Our people
Environment
Local Communities
Responsible sourcing
Human rights and
modern slavery
Innovation and
Technology
Financial performance
Annexes
Report Methodology
Sustainability data
GRI Index
Non-Financial
Information
Content Index
GRI 2024 Mining
Sector Standards
SASB Content Index
SUSTAINABILITY
REPORT 2025
Registered office
Atalaya Mining Copper, S.A.
Paseo de las Delicias, 1, 3
41001, Sevilla (Spain)
atalayamining.com