Sandfire Resources Limited
Sandfire Resources Limited
Full text is available to Level 2 subscribers only
Subscribe to Mining Business Media
Full access to Mining Business Media's unique blend of global mining sector news and commentary is available by subscription only.
$A275.00 per year*
(*up to 10 users)
GST included in Australia
Direct debit/cheque/credit card:
Click here
Subscription inquiries, email subscribe@miningbusiness.net or call 61+413 772 044.
Related Content
Acting CEO Jason Grace says Sandfire Resources has achieved a significant reduction in overall debt after posting Sept qtr (Q1FY23) production of 28,056t copper (Q4FY22: 34,974t), 19,535t zinc (22,880t), 2,477t lead (2,201t), 8,215oz gold (9,075oz) and 0.7Moz silver (0.8Moz).
Grace, the Australian international miner’s chief operating officer, stepped into the top job after founder Karl Simich stepped down.
Australian engineer Lycopodium has had another major contract win on Sandfire Resources’ Motheo (T3) copper project in Botswana, this time to provide construction management services as the Kalahari Copper Belt development moves into the construction stage.
A strong start to Sept qtr (Q1) production at its DeGrussa mine in Western Australia and MATSA in Spain has encouraged Sandfire Resources to lift its FY23 group production guidance to 83,000-91,000t copper, 78,000-83,000t zinc, 6,000-10,000t lead, 12,000- 14,000oz gold and 2.2-3.2Moz silver.
The initial 5-month contribution following its acquisition of the MATSA copper project in Spain and strong performance of its DeGrussa copper operations in Western Australia have delivered a 52% increase in sales revenue for the year to end-June by international miner Sandfire Resources.
Sandfire Resources aims to begin site construction activities in the March 2023 qtr to expand the processing capacity of its Motheo development in Botswana from 3.2Mtpa to 5.2Mtpa after its DFS demonstrated outstanding project economics.
The expansion strategy includes the development of the A4 deposit, the Motheo mine’s first satellite deposit, within a revised $US397M development cost to support production of 440,000t copper and 18.4Moz silver at AISC of $1.79/lb over a 10-year life.
A strong final quarter and the 5-month contribution from its MATSA operations in Spain have helped Australian miner Sandfire Resources beat expectations with FY22 production of 98,367t copper, 38,907t zinc, 4,102t lead, 32,285oz gold and 1.5Moz silver. C1 costs were $US1.27/lb Cu.
Sandfire’s FY21 result was 70,854t Cu and 39,459oz Au at $0.82/lb.
Sandfire Resources is confident it has confirmed the world-class nature of its MATSA copper-lead-zinc-silver mining complex in SW Spain, posting updated measured, indicated and inferred resources of 147.2Mt @ 1.4% for 2.1Mt Cu, 3% for 4.45Mt Zn, 1% for 1.5Mt Pb and 39.6g/t for 187.6Moz Ag.
(COMMENTARY)
An investor presentation last week by Australian explorer Siren Gold shows it is hoping to walk in the footsteps of New Zealand’s only major gold producer, OceanaGold Corporation. By Ross Louthean
A transformational Q3 22 sees the MATSA mine in Spain join Sandfire Resources to lift copper output, with gold set to fire as the expansion locks in
Sandfire Resources will fight to retain development rights over its Black Butte underground copper project in central Montana, USA after a state district court judge ruled its mine operating permit was improperly approved by state authorities.
Following the court’s summary judgment on a legal challenge by environmental groups, 87%-owned subsidiary Sandfire Resources America and the state have 45 days to propose remedial measures to the judge.