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Sandfire maintains full-year guidance

29th January 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Copper miner Sandfire Resources has maintained its full-year production guidance for the 2020 financial year, following a strong December quarter.

The miner on Wednesday reported that copper production for the three months to December was up to 18 258 t, from 16 730 t produced in the previous quarter, while gold production also increased from 8 647 oz to 10 723 oz in the same period.

The DeGrussa copper/gold mine contributed 316 431 t of ore during the quarter under review, while the Monty copper/gold satellite project contributed a further 91 473 t. A total of 402 626 t of ore, at an average grade of 4.9% copper, was milled for the quarter, with copper recovery averaging 92.9%.

C1 costs for the quarter reduced from the 87c/lb reported in the September quarter, to 83c/lb.

Sandfire has maintained the full-year production guidance of between 70 000 t and 72 000 t of contained copper, and between 38 000 oz and 40 000 oz of contained gold, with headline C1 cash costs expected to reach 90c/lb.

Edited by Creamer Media Reporter

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