Sandfire Resources Limited (ASX:SFR)
Sandfire Resources NL (ASX:SFR) is a dynamic mid-tier Australian mining and exploration company. Sandfire joined the ranks of Australian copper producers in 2012 following the successful construction and commissioning of its flagship 100%-owned DeGrussa Copper-Gold Mine, located 900km north of Perth in Western Australia.
Sandfire moved from discovery through resource drill-out, feasibility, financing, development, and construction to first copper production within three years – a remarkable achievement which has set new benchmarks for the efficient and rapid development of resources in Western Australia.
“Sandfire intends to build on the strong cash flows being generated at DeGrussa to create the foundations for a world-class Australian mining company with a sustainable growth plan.”
DeGrussa produces high-quality copper-in-concentrate with significant gold credits. Production guidance for the 2017 Financial Year is expected to be within the range of 65,000 to 68,000 tonnes of contained copper metal and 35,000 to 40,000 ounces of contained gold metal. The C1 cost is expected to be approximately US$0.95-1.05 per pound.
The exceptional average grade of this resource puts DeGrussa in a league of its own in terms of copper producers worldwide.
Sandfire intends to build on the strong cash flows being generated at DeGrussa to create the foundations for a diversified Australian mining company with a sustainable growth future.
This includes a substantial exploration commitment within its aggregate contiguous exploration area of 5,846km2 in the Greater Doolgunna Project and through a portfolio of exploration joint ventures and initiatives in highly prospective mineral provinces in Australia and overseas.