Sandfire Resources NL is a dynamic mid-tier Australian mining and exploration company which is listed on the Australian Securities Exchange (ASX Ticker: SFR).
Sandfire joined the ranks of Australian copper producers in 2012 following the successful construction and commissioning of its flagship 100%-owned DeGrussa Copper-Gold Mine, located 900km north of Perth in Western Australia.
Sandfire moved from discovery through resource drill-out, feasibility, financing, development, and construction to first copper production within three years – a remarkable achievement which has set new benchmarks for the efficient and rapid development of resources in Western Australia.
“Sandfire intends to build on the strong cash flows being generated at DeGrussa to create the foundations for a world-class Australian mining company with a sustainable growth plan.”
DeGrussa produces high quality copper-in-concentrate with significant gold credits. Life-of-mine C1 cash operating costs are forecast at approximately US$1.20 per pound.
DeGrussa has a Total Mineral Resource inventory, net of mining depletion to 31 December 2012, containing some 667,000 tonnes of copper and 781,000oz of gold. The exceptional average grade of this resource puts DeGrussa in a league of its own in terms of copper producers worldwide.
Sandfire intends to build on the strong cash flows being generated at DeGrussa to create the foundations for a diversified Australian mining company with a sustainable growth future.
This includes a substantial exploration commitment within its broader 400sqkm tenement holding at DeGrussa and through a portfolio of exploration joint ventures and initiatives in highly prospective mineral provinces in Australia and overseas.