Sandfire ups outlook for 2019
PERTH (miningweekly.com) – Copper/gold miner Sandfire Resources has reported another strong quarter at its DeGrussa mine, in Western Australia.
Copper production in the three months to March reached 16 062 t, which was on par with the 16 888 t produced in the previous quarter, while gold production also remained stable at 10 921 oz, compared with the 10 427 oz produced in the December quarter.
C1 cash operating costs for the quarter were slightly higher at $0.92/lb, compared with the $0.85/lb reported in the last quarter.
Sandfire on Thursday upgraded its production outlook for the full year, increasing its copper expectations from the previous guidance of between 63 000 t and 67 000 t, to between 66 000 t and 68 000 t, as well as its gold production guidance from the previous estimate of between 37 000 oz and 40 000 oz, to between 40 000 oz and 42 000 oz.
C1 cash costs for the full year are estimated to reach some $0.90/lb.
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