What Atlantic Copper does

Atlantic Copper S.L.U. is a Spanish copper smelting and refining company headquartered in Madrid with its integrated metallurgical complex in Huelva. Founded in 1970 and wholly-owned by NYSE-listed Freeport-McMoRan Inc. (NYSE: FCX) since 1993, it is the largest copper producer in Spain. The company processes approximately 1.1 million tons of copper ore concentrate annually into approximately 285,000 tons of refined copper cathodes at 99.99% purity, using flash smelting followed by electrolytic refining. Co-products recovered and commercialized from the same feedstock include sulfuric acid, precious metals (gold, silver, palladium, platinum) extracted from anodic sludge, and iron silicate.

Atlantic Copper operates as a B2B industrial commodity supplier, reporting FY2025 turnover of €2,807M with 57% of revenue from international exports. Revenue streams derive from hardware sales of refined copper cathodes, sulfuric acid, precious metals, and iron silicate, with pricing tied to global commodity markets (notably LME copper) and no publicly disclosed pricing tiers. The go-to-market is direct enterprise field sales to manufacturers in energy transition, sustainable mobility, digitalization, healthcare, and agri-food segments, supported by a domestic procurement network of 650+ Andalusian suppliers. The company has 800+ direct employees (2,500 including indirect and derived employment) and €10M in R&D investment in 2025.

The company is executing a structural expansion via the CirCular project, a €410 million circular economy initiative launching in Q1 2026 to recover 60,000 tons of non-ferrous metals annually from Waste Electrical and Electronic Equipment (WEEE), designated a strategic project by the European Commission. Atlantic Copper holds The Copper Mark (the first EU mining-metallurgical company to obtain it), The Nickel Mark, and multiple ISO certifications (9001, 14001, 45001, 50001, 55001), plus EMAS, UNE 19601, IQNet SR 10, OEA, and Top Employer status (consecutive years 2022–2026). Leadership transitioned in 2025 with Macarena Gutiérrez appointed CEO succeeding Javier Targhetta, who moved to Chairman; a new Energy Transition and Sustainability directorate was created in 2025 under Esther Alonso.

Name

Atlantic Copper

Legal name

Atlantic Copper S.L.U.

Website

https://atlantic-copper.es

Company type

Private

Founded year

1970

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Atlantic Copper is Spain's largest copper smelter and refiner, wholly-owned by Freeport-McMoRan (NYSE: FCX), processing 1.1 million tons of ore concentrate annually into 285,000 tons of refined copper cathodes, sulfuric acid, and precious metals for global industrial customers.

Ownership category

akta.pro rank

Product category

Copper Smelting and Refining

NAICS

Nonferrous Metal (except Aluminum) Smelting and Refining (33141), Secondary Smelting, Refining, and Alloying of Nonferrous Metal (except Copper and Aluminum) (331492), Nonferrous Metal (except Aluminum) Production and Processing (3314)

SIC

Primary Smelting & Refining Of Nonferrous Metals (3330), Secondary Smelting & Refining Of Nonferrous Metals (3341)

akta.pro primary industry

Copper Pyrometallurgy (Smelting, Converting) (IMAKADAE)

akta.pro secondary industries

Copper Refining (Electrorefining & Fire Refining) (IMAKADAF), Copper By-Products Recovery (Molybdenum, Gold/Silver, Sulfuric Acid) (IMAKADAH), Metals Recycling & Processing (Ferrous/Non-Ferrous) (BPALADAF), Metal Melting & Secondary Smelting/Refining (Recycled Feedstock Producers) (EUAIAJAJ), Metals Recovery & Sorting Facilities (Ferrous/Non-Ferrous) (EUAIADAG)

Keywords

• Copper smelting services
• Metallurgical refining
• Precious metals recovery
• Sulfuric acid production
• Non-ferrous metal recycling

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Copper Production and Sales: Primary revenue stream from production and sale of refined copper cathodes. The company transforms ore into approximately 285,000 tons of refined copper annually, selling to industrial customers globally with 57% export focus.
2. Precious Metals: Recovery and sale of precious metals including gold, silver, palladium, and platinum extracted during the copper refining process from anodic sludge
3. Sulfuric Acid: Production and sale of sulfuric acid as a by-product of the copper smelting process, serving industrial customers in chemical and manufacturing sectors
4. Iron Silicate: Recovery and sale of iron silicate as a by-product of the metallurgical process

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Atlantic Copper operates an integrated metallurgical complex in Huelva, Spain, that smelts and refines copper ore concentrate into high-purity 99.99% copper cathodes. The process also produces commercial by-products including sulfuric acid, precious metals (gold, silver, palladium, platinum), and iron silicate (Fayalite). The company has also launched the CirCular project to recover non-ferrous metals from waste electrical and electronic equipment (WEEE).

Product overview

Atlantic Copper is a copper smelting and refining company operating from its Metallurgical Complex in Huelva, Spain. The company operates as a single unified production facility that transforms copper ore concentrate (over 1 million tons annually) into refined copper cathodes (approximately 285,000 tons per year) as its primary product. During the copper production process, the company simultaneously generates and commercializes several co-products: sulfuric acid (from the matte conversion process), precious metals including gold, silver, palladium, and platinum (recovered from anodic sludge), and iron silicate (from the flash smelting slag). The portfolio is complemented by the CirCular Project, a new circular economy initiative launching in Q1 2026 to recover non-ferrous metals from WEEE (electronic waste), positioning the company as a multi-metal producer addressing the circular economy and energy transition challenges.

Differentiator

Problem solved

Functional benefit

Products and services

• Copper Cathodes
• Sulfuric Acid
• Precious Metals (Gold, Silver, Palladium, Platinum)
• Iron Silicate (Fayalite)
• CirCular WEEE Metal Recovery

Quantifiable outcome

• 285,000 tons of refined copper produced annually from 1.1 million tons of ore
• +4 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

14 partnerships are on record, tiered core and minor.

• Freeport-McMoRan Inc.coreOthers · 1 January 2026Freeport-McMoRan is the US parent company of Atlantic Copper, listed on NYSE (FCX). Atlantic Copper joined Freeport-McMoRan in 1993. Freeport-McMoRan operates large, geographically diversified mining reserves of copper, gold, molybdenum and other metals, and is at the top of the global copper producer ranking. Atlantic Copper is a key component of Freeport-McMoRan's global strategy.
• Real Club Recreativo de HuelvaminorGTM or Marketing Partner · 1 September 2025Atlantic Copper as main sponsor of Recreativo de Huelva football club, reinforcing the company's commitment to the local community in Huelva.
• Adecco Learning & ConsultingminorImplementation/ SI/ Consulting Partner · 9 January 2025Training program partnership with 40% hiring commitment for Operations Basic Metallurgical Plants course for the CirCular project. Atlantic Copper received 463,800 euros subsidy to deliver this training program.
• Raw Materials Summit 2025minorGTM or Marketing Partner · 1 January 2025Atlantic Copper participated as a key reference in the European forum on raw materials, positioning the company in strategic discussions about fundamental raw materials.
• RENEW Project ConsortiumminorStrategic or Co-development Partner · 1 December 2024European project consortium to validate technologies for separating plastic from non-ferrous metals in printed circuit boards. Atlantic Copper celebrated the final consortium meeting.
• Alter EnersunminorStrategic or Co-development Partner · 23 September 2024Agreement for construction of a 30 MWp photovoltaic plant for self-consumption. Alter Enersun invested 16 million euros in this energy infrastructure, scheduled to begin operation in 2026. This partnership supports Atlantic Copper's renewable energy transition.
• Prosolia and MET EnergíaminorStrategic or Co-development Partner · 1 August 202410-year power purchase agreement (PPA) for 23 MW supply with 100% renewable origin certificate. This agreement supports Atlantic Copper's sustainability goals and renewable energy procurement.
• Mining and Minerals Hall (MMH)minorGTM or Marketing Partner · 1 January 2024Atlantic Copper participated in the V edition of Mining and Minerals Hall 2024 in Seville, a key event for the mining and minerals sector.
• AMINERminorStrategic or Co-development Partner · 1 January 2021Atlantic Copper integrated as full member of the Association of Research, Extractive, Transforming Mining-Metallurgical, Auxiliary and Service Companies (AMINER).
• FEIQUEminorStrategic or Co-development Partner · 1 January 2021Atlantic Copper integrated into the Chemical Industry Business Federation (FEIQUE), representing the industry at national level.
• PRIMIGEAminorStrategic or Co-development Partner · 1 January 2021Atlantic Copper CEO Javier Targhetta presides the new national confederation for sustainable mineral raw materials industries, grouping nearly 3,800 companies.
• SuezminorStrategic or Co-development Partner · 1 January 2019Partnership for optimization of water resources at the Copper Smelter and Refinery in Huelva. Project aims to improve water reuse and reduce water footprint.
• Universidad de Huelva (UHU)coreStrategic or Co-development Partner · 1 January 2015Atlantic Copper-UHU Chair has supported 24 research contracts since 2015. The chair has fostered creation of own degrees and Final Degree and Master theses. Activities span educational, environmental, social and cultural areas.
• ETSIME-UPM (Escuela Técnica Superior de Ingenieros de Minas y Energía)coreStrategic or Co-development Partner · 1 January 2013Atlantic Copper Chair at the School of Mines and Energy of the Polytechnic University of Madrid. Since 2013, nearly 500 students have participated in courses. The chair promotes sustainable mining education and research.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Codelco: Chilean state-owned copper miner, the world's largest copper producer. Comparable to Atlantic Copper as a key global copper supplier feeding European smelting capacity, though operating at mine rather than smelter/refiner level.
• Glencore plc: Global diversified mining and commodities trader with significant copper smelting and trading operations. Comparable to Atlantic Copper as a major participant in global copper flows, though operating at much larger and more diversified scale across mining, smelting, and trading.
• Rio Tinto Group: Global diversified miner with major copper assets and copper concentrate production feeding European smelters. Comparable to Atlantic Copper in the copper value chain as a source of concentrate feedstock and competitor for European smelter capacity, though with much broader mining portfolio.
• Southern Copper Corporation: Major global integrated copper miner and smelter controlled by Grupo México. Comparable as a global copper concentrate and refined-copper producer; competes for European smelter customers and indirectly shapes treatment-charge economics.
• Antofagasta plc: Chilean copper mining group listed in London with significant copper concentrate output. Comparable as a major supplier of copper concentrates into the global smelting network, influencing feedstock availability for smelters such as Atlantic Copper.

Direct peers

• Boliden AB: Swedish mining and metals company operating the Rönnskär copper smelter and Harjavalta smelter in Europe. Comparable to Atlantic Copper as a Northern-European integrated smelter/refiner producing copper cathodes, sulfuric acid, and precious-metal by-products.
• KGHM Polska Miedź S.A. Polish integrated copper producer and one of Europe's largest copper miners and smelters. Comparable to Atlantic Copper as a European-headquartered copper smelter/refiner with by-product precious-metal revenues, though with integrated mining rather than a pure-smelter model.
• Aurubis AG: Aurubis is Europe's largest copper producer and a leading multi-metal recycler, operating copper smelters and refining facilities across Europe. Directly comparable to Atlantic Copper in core copper smelting and refining activity, with overlapping exposure to precious-metal by-product recovery and growing WEEE recycling operations.

Emerging players

• Umicore SA: Belgian materials technology and recycling company with operations in precious-metals recycling and battery materials. Comparable as a European-headquartered player recovering non-ferrous and precious metals, with growing overlap in WEEE and circular-economy themes central to Atlantic Copper's CirCular project.

Regional players

• Dowa Holdings Co., Ltd. Japanese non-ferrous metals smelter with copper, precious-metals, and WEEE recycling operations in Asia. Comparable to Atlantic Copper in copper smelting, precious-metal recovery, and circular-economy recycling, but primarily serving the Japanese market rather than Europe.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCii9NYB1b28CipUHbkJK34w
• Xx.com/atlantic_copper

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Atlantic Copper