Sandfire sets full year record
PERTH (miningweekly.com) – Copper/gold miner Sandfire Resources reported record full year production during the 12 months ended June, following a strong fourth quarter.
The miner has reported an increase in both copper and gold production for the quarter ended June, with copper production up from 17 936 t in the previous quarter, to 19 313 t, while gold production was up from 9 352 t to 13 541 t in the same period.
For the full year, copper production reached 72 238 t, while gold production was reported at 42 263 t.
The company told shareholders that production during the quarter was sourced from both the DeGrussa and Monty mines, in Western Australia, with production rates from DeGrussa continuing to meet expectations, while Monty outperformed forecast rates. A total of 424 691 t of ore was mined during the quarter under review.
Sandfire noted that sales volumes for the quarter ended June reached 84 134 t of concentrate, containing 20 041 t of contained copper and 14 250 oz of contained gold. For the full year, revenues reached A$657-million.
C1 costs for the quarter declined from 74c/lb to 51c/lb, driven by a combination of record copper production and gold production, as well as lower currency.
Looking ahead at 2021, Sandfire is expected to produce between 67 000 t and 70 000 t of contained copper, with gold production targeted at between 36 000 oz and 40 000 oz, with C1 costs targeted at between 90c/lb and 95c/lb.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation