Sandfire Resources has welcomed rising copper prices amid its transition towards becoming an international miner.
Copper has reached its highest price on the London Metal Exchange since September 2011 after an 11th straight monthly gain.
Keep up with the latest executive movements across the mining sector, including at Rio Tinto, IGO, CIMIC Group and more.
Sandfire Resources will move forward with the commercial development of the T3 Motheo copper-silver project in Botswana, Africa after approving a $US259 million ($351 million) investment.
Sandfire Resources will secure a 19.99 per cent share of Auris once it completes the offloading the Sams Creek gold project in New Zealand.
Sandfire Resources has responded to speculation that China is considering a ban on Australian copper imports, stating that it is “not aware of the reasons for the reported potential ban”.
Copper prices have continued to rise this week to almost $US6800 per tonne ($9345) as global concerns of a lack of supply continue.
Sandfire Resources is well positioned to take advantage of recent recovery to copper prices, as they are up 35 per cent from COVID-19 lows experienced earlier in 2020.
Gold has traded above $US2000 ($2805), another record high for the precious metal, before settling just below this peak.
Sandfire Resources has continued to operate the DeGrussa mine in Western Australia at full capacity, achieving strong production and milling rates during the June quarter.
Sandfire Resources has continued to operate the DeGrussa copper-gold mine at full capacity, with production in line with previous output despite withdrawing its 2020 financial year guidance.
Sandfire Resources has continued full capacity operation at the DeGrussa mine in Western Australia during the ongoing coronavirus pandemic.
Sandfire Resources managing director Karl Simich said the first half of the 2020 financial year “marked the beginning of an exciting new growth chapter” for the company.
Minotaur Exploration and OZ Minerals’ Cloncurry Alliance has formed a joint venture (JV) with Sandfire Resources to explore a tenement group in Queensland.
Sandfire Resources has lifted a suspension of its operations at the DeGrussa copper-gold mine in Western Australia after Tropical Cyclone Damien caused flood damage.
Auris Minerals has entered into an agreement with Sandfire Resources to advance exploration at its Cashman project in the Bryah Basin, Western Australia.
Acquisition is the way to survival as major new greenfields discoveries appear to have dried up, according to PCF Capital principal Liam Twigger.
Sandfire Resources has delivered net profits of $106.5 million for the 2019 financial year, marking the company’s second-best result in seven years of operations.
Rumble Resources and AIC Mines have signed an earn-in and exploration joint venture (JV) agreement to develop the Lamil gold-copper project in the Paterson Province, Western Australia.
Galena Mining has received final approval for construction, mining and production at the Abra base metals project in the Gascoyne region of Western Australia.