- Write by:
-
Thursday, August 27, 2020 - 12:15:32 PM
-
660 Visit
-
Print
Mining News Pro - Sandfire Resources is well positioned to take advantage of a recovery in copper prices, which have improved by 35 per cent since the lows experienced during the COVID-19 pandemic this year.
The company enters the new financial year having completed a full year of production from the Monty copper-gold mine, part of the DeGrussa operations in Western Australia.
Monty contributed to an exceptional overall performance at DeGrussa, which produced 72,238 tonnes of copper and 42,263 ounces of gold.
Internationally, Sandfire is preparing to release feasibility study results for the T3 copper-silver project in Botswana and its fully permitted Black Butte copper project in the United States.
Sandfire is also planning to post a maiden resource for the A4 discovery in Botswana, located just eight kilometres from the T3 project.
Managing director Karl Simich said this strong performance and the company’s exciting development pipeline positioned it for a “very bright and exciting future”.
“Much has changed within the business over the past 18 months and there is considerable energy and excitement as we embrace the challenges and opportunities involved in building an international growth pipeline,” Simich said.
“The onset of COVID-19 has forced a number of changes and adjustments to our operating procedures and I am proud of the professional and focussed response from our people across the organisation in adapting to this new environment.
“We finished the year with an impressive cash balance of almost $300 million and no debt, after making substantial investments in our future growth pipeline.
Simich said the next few months would be pivotal for Sandfire as the company put detail and timelines around its key international development projects.
Short Link:
https://www.miningnews.ir/En/News/591036
Copper traded near $10,000 a ton, hitting a new two-year high on its way, as investors continue to pile in on a bet that ...
A Native American group has asked all members of a US appeals court on Monday to overturn an earlier ruling that granted ...
Codelco is exploring more partnerships with the private sector as Chile’s state copper behemoth looks to recover from a ...
The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply ...
Peru’s Las Bambas copper mine, owned by China’s MMG, is facing renewed blockades of a key transport route after failed ...
Vitol Group confirmed that it’s starting to rebuild a trading book for metals after a long stint out of the market, with ...
Chinese investors are snapping up stocks tied to high-flying metals from copper to gold, aiding an onshore market facing ...
Copper traded near a 15-month high as supply concerns and brighter demand prospects triggered a slew of bullish calls on ...
Copper jumped to its highest intraday price since January 2023 as the bellwether industrial metal faces rising tighter ...
No comments have been posted yet ...