The copper, gold and silver market boosted the Huelva-based company’s turnover to  2.79 billion euros in 2024

Huelva, March 19, 2025. Huelva-based company Atlantic Copper, the leading producer of copper and sulfuric acid in Spain, closed fiscal year 2024 with a turnover of 2.79 billion euros. This represents an increase of 7.43% compared to the previous year and an operating margin of 46 million euros, according to the financial statement presented by the company’s Chief Administrator Officer, Macarena Gutiérrez.

Refined copper in the form of cathodes was the main revenue generator, with 2.263 billion euros, followed by gold and silver marketed in the form of electrolytic sludge, totaling 449 million euros. Demand was driven by the energy transition, digitalization and electrification. Additionally, sales of sulfuric acid and iron silicate reached 78 million euros. Metal prices of both copper and raw materials had a positive impact.

The domestic market accounted for 46% of the company’s sales, followed by the Mediterranean arc (35%), Asia (13%) and other markets (6%). Atlantic Copper maintains commercial relations with more than 30 countries; Italy, Japan and Egypt are its leading export destinations, accounting for a total amount of 1.547 billion euros.

In terms of production, the Huelva metallurgical complex processed 960,000 tons of copper ore concentrate, obtaining 254,000 tons of high purity cathodes, 800,000 metric tons of sulfuric acid and 816 tons of electrolytic sludge rich in precious metals.

Strong demand for metals

Macarena Gutiérrez stressed that this growing demand for copper is in response to the great challenges of the 21st century, such as the energy transition, sustainable mobility and digitalization, and emphasized Atlantic Copper’s strategic position in this context. “Renewable energies, electric vehicles and artificial intelligence require safe and sustainable access to essential raw materials and, in this regard, Atlantic Copper will play a key role as a multi-metal company in Europe,” she said.

She also mentioned the European Union’s Critical Raw Materials Act (CRM Act) and the Roadmap for the Sustainable Management of Mineral Raw Materials. The latter includes the Mineral Raw Materials Action Plan 2025-2029, which focuses on recycling, sustainability and autonomy. She also referred to the Strategy for Sustainable Mining in Andalusia 2030, stressing that “these plans will consolidate Huelva, Andalusia and Spain as key actors in the supply of essential raw materials to boost Europe’s strategic autonomy.”

Along these lines, Gutiérrez emphasized that Atlantic Copper’s capacity to supply these metals to the market will be strengthened through recovery and recycling, with the start-up of CirCular in the first quarter of 2026. This project, boasting an investment of more than 410 million euros, will consolidate Atlantic Copper as the main reference in southern Europe in this regard.

 

Innovation and energy efficiency

According to the balance sheet results, the Huelva-based company maintained its investment rate in R+D+i in 2024, allocating 10 million euros to innovation, energy efficiency and digitalization projects. Since 2014, Atlantic Copper has reduced its CO₂ emissions (Scope 1+2) by 39%, and as part of its water footprint reduction strategy the company will open a processing water recovery plant this coming quarter, which will make it possible to save 500,000 m³ of water per year. In the last decade, Atlantic Copper has invested 294 million euros in environmental projects.

Looking ahead to 2030, Gutiérrez announced that the company’s objective is for 90% of the energy consumed in the metallurgical complex to come from renewable sources, compared to 51% today, and to reduce CO₂ emissions by 50% (Scope 1+2) compared to 2018.

People and talent

In terms of talent, the Huelva-based company’s Chief Administrator Officer stressed that “all these projects are only possible thanks to the company’s human team, a team that is at the heart of our strategy.”

In 2024, the average staff of Atlantic Copper was 767 employees, 93% of whom had permanent contracts. Women account for 20% of the workforce, holding 35% of supervisory positions and accounting for 42% of the Executive Committee, with women’s employment doubling in the last decade. In 2024, Atlantic Copper renewed its Top Employer certification, meaning it is recognized as one of the best companies to work for in Spain.

On the other hand, according to Gutiérrez one of the company’s main challenges is “to staff ongoing projects with the qualified personnel they require.” Here, she highlighted the role of the Dual FP vocational training program, which has enabled 67% of students who completed their training at Atlantic Copper to continue working in the company, with an employment rate of 53% for women.

In conclusion, Gutiérrez recalled the role played by the Atlantic Copper Foundation in the province. The Foundation celebrated its fifteenth anniversary in 2024, and since its creation it has allocated more than seven million euros to educational, cultural, social and environmental programs, consolidating its social impact and its commitment to the region.