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Sandfire still on track for full-year targets

24th October 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Copper miner Sandfire Resources has reported a slight decline in quarterly production for the three months to September, while operating costs in the quarter increased.

Copper production for the September quarter reached 16 730 t, compared with the 18 519 t produced in the previous quarter, while gold production in the same period declined from 11 967 oz to 8 647 oz.

The decrease in production resulted from lower copper and gold grades during the September quarter.

Meanwhile, C1 cash costs for the quarter increased to $0.87/lb, up from the $0.74/lb reported in the previous quarter.

Looking ahead, Sandfire was expecting copper production to reach between 70 000 t and 72 000 t for the 2020 financial year, while gold production is targeted at between 38 000 o z and 40 000 oz, while C1 costs are estimated to range between $0.90/lb and $0.95/lb.

Sandfire has recently launched a prefeasibility study into the DeGrussa oxide and tailings retreatment project, with the study slated for completion by the December quarter of this year.


An updated feasibility study and ore reserve estimate is also expected for the recently acquired T3 copper project, in Botswana, by the June quarter of 2020, with a decision to mine expected shortly after.

Edited by Creamer Media Reporter

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