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
Record performance by its DeGrussa copper-gold operation has delivered strong year-on-year increases in sales revenue and operational cash-flow for West Australian miner Sandfire Resources for the 12 months to end-June (FY20).
Payable metal sales of 69,593t (FY19: 65,074t) Cu and 40,004oz (39.265oz) Au delivered $A656.8M ($592.2M) and cash-flow of $273.6M ($210.4M)
A strong June 2020 qtr (Q4 20) has powered Sandfire Resources’ DeGrussa operation in Western Australia to record FY20 72,000t contained copper from FY19’s 69,394t, but with gold slipping to 42,000oz from 44,455oz at C1 costs down to $US0.72/lb from $0.83/lb.
Sandfire Resources is pushing towards the start of site works while preparing to fight a new legal challenge against the proposed 391,000t (13.6Mt @ 2.9%) Black Butte underground copper development in central Montana, USA.
Through its 85%-owned Canadian listed subsidiary Sandfire Resources America, it’s finalising a contract to commence surface earthworks once it secures a $US4.65M phase 1 bond required by Montana’s Environment Quality Department.
Higher mine production, but lower milled ore have seen Sandfire Resources’ Mar 2020 qtr (Q3 20) Western Australia copper production ease to 17,936t from Q2 20’s 18,258t and gold to 9,352oz from 10,723oz at C1 costs also down to $US0.74/lb Cu from $0.83/lb.
Lower milled ore and a temporary suspension of underground mining at DeGrussa ease Q3 20 copper-gold production
Australian-based Sandfire Resources has passed the final permitting hurdle for its 86%-owned Black Butte copper project in USA after Montana’s environmental authority released a positive record of decision for development and underground mining of the Johnny Lee deposit.
MD-CEO Karl Simich says Sandfire can now move to the complete the final elements of Black Butte’s feasibility study and financing considerations, although the FS completion may be delayed due to the COVID-19 pandemic.
Western Australia miner Sandfire Resources has posted a Dec 2019 half (H1 20) net profit fall to $A34.2M from H1 18’s $49.6M, which included production from its sole producing DeGrussa copper-gold operations’ new satellite Monty copper-gold mine, resulting in an additional amortisation expense of $34.2M from Monty's purchase price.
The collaboration strategy by Australian explorer Minotaur Exploration to apply advanced techniques for base metals in the Cloncurry region of NW Qld has advanced with the signing of JV heads of agreement by Sandfire Resources with alliance partners Minotaur and OZ Minerals.
The new deal adds some 1,226sqkm of Sandfire tenements at Breena Plains to the 24,000sqkm area covered by the Cloncurry Alliance agreement in Sept 2019 between Minotaur and OZ.
West Australian miner Sandfire Resources says it’s confident it can maintain FY2020 production guidance after flooding resulting from former tropical cyclone Damien forced a temporary suspension of underground mining at its DeGrussa copper-gold mine.
Sandfire says the rainwater impacted a section of the openpit and the Evans decline at the 100%-owned mine 900km NE of Perth.
Australian copper-gold miner Sandfire Resources has walked away from its $A30M earn-in J/V deal on White Rock Minerals’ Red Mountain zinc-precious metals project in central Alaska, US, after spending $8.5M during 2019.