Strategic alliance secured with POSCO, a South Korean-based global steel group, and the world’s fourth largest steel producer at the time. The equity funding received from POSCO enabled the Company to accelerate the exploration of its projects in Australia, which ultimately led to the discovery of DeGrussa. POSCO remained a key long-term strategic partner of Sandfire until mid-2015.

Led by Geologist Margaret Hawke, the Sandfire team drills the DeGrussa Deposit’s discovery RC drill hole in Western Australia. The initial drill holes unearthed massive sulphide mineralisation at depth in a region better known for its gold discoveries, leading to one of the most celebrated recent mineral discoveries in Western Australia. The first diamond drill hole targeting the new deposit later returned a stunning intersection including 47m @5.3% Cu at the DeGrussa Deposit.

RC drilling confirms the presence of a second, larger zone of mineralisation, Conductor 1, immediately north of the initial DeGrussa Deposit discovery.

Discovery of a third high-grade copper-gold deposit, Conductor 4, immediately adjacent to the Conductor 1 Deposit.

Phase 1 Indicated and Inferred Mineral Resource of 7.03Mt grading 5.2% Cu, 1.9 g/t Ag; and 15g/t Au reported for the DeGrussa and Conductor 1 Deposits – less than 8 months after initial discovery.

Discovery of Conductor 5 lens, approximately 900m north-east of the DeGrussa and Conductor 1 Deposits.

DeGrussa Mining Lease formally granted by the West Australian Department of Mines and Petroleum (later renamed Department of Mines, Industry Regulation and Safety).

Sandfire’s Board approves development of the DeGrussa Project based on the strength of a robust Pre-Feasibility Study.

The maiden blast for the box-cut excavation of the “Evans Decline” marked the commencement of underground development at DeGrussa.

Sandfire delivers positive Definitive Feasibility Study for the DeGrussa Project.

$380 million project loan facility executed for the DeGrussa Project development.

Mining of Open Pit ore from DeGrussa commences, followed shortly after by the start of mining underground massive sulphide ore.

Commissioning of the 1.5mtpa on-site concentrator commences.

Sale of first shipment of copper concentrate from DeGrussa, comprising 5,000dmt of copper concentrate

DeGrussa’s Stage 2 Open Pit completed, marking the completion of open pit operations and the transition of the DeGrussa Operations to a wholly underground mining operation.

Sandfire announced a maiden annual net profit after income tax of $88 million for the year ended 30 June 2013, marking its arrival as a successful mining company.

Official opening of the DeGrussa Copper Mine by Hon. Colin Barnett MLA, Premier of Western Australia.

The DeGrussa Operations passed the significant milestone of generating over $1 billion in revenue since the commencement of operations in 2012. Sandfire declared its first-ever dividend of 10 cents per share for the 2014 financial year.

Acquisition of an initial 36% stake in copper developer Tintina Resources Inc., giving Sandfire exposure to the potential development of the Black Butte Copper Project in Central Montana, USA, one of the highest grade undeveloped copper deposits in North America.

Diamond drilling at the Monty prospect ( Springfield JV Farm-In with Talisman Mining Ltd) intersected a significant zone of massive sulphide mineralisation approximately 10km east of the DeGrussa Operations. Assay results from the discovery drill-hole returned exceptional results including 16.5 metres grading 18.9% Cu and 2.1g/t Au.

Sandfire becomes a first mover in Australia for renewable energy use in an off-grid mining application with the commencement of construction of the DeGrussa Solar Power Station at the DeGrussa Operations in Western Australia.

Sandfire releases its first annual Sustainability Report, prepared in accordance with the Global Reporting Initiative Framework “Core” option, and is a finalist for the “Best climate disclosure by a new responding company”.

Sandfire celebrates trucking its millionth tonne of concentrate produced from the DeGrussa Operations and trucked to port.

Sandfire marks a significant milestone for the Company, with the original $380 Million DeGrussa Finance Facility, secured in 2011 to fund the DeGrussa Copper-Gold Project, fully repaid nearly 12 months ahead of scheduled repayment date.

Mining Proposal for the Monty Copper-Gold Mine approved, paving the way for the commencement of development for the new satellite mine.

Sandfire’s 78% owned Black Butte Copper Project in Montana, USA, achieves key permitting milestone, with Mine Operating Permit (MOP) application found to be “Complete and Compliant” in accordance with all State rules and regulations. Environmental Impact Statement (EIS) commenced.

Sandfire reaches agreement to acquire Talisman Mining Ltd’s 30% interest in the Springfield Joint Ventures, providing the Company with 100% ownership of the satellite Monty Copper-Gold Mine and surrounding exploration tenure.

Sandfire increases its ownership of the Black Butte Copper Project in Montana, USA to 86%.

First stoping ore delivered from the satellite Monty Copper-Gold Mine, with ore trucked to DeGrussa for processing.

Sandfire announces plans to acquire 100% of MOD Resources Ltd, adding the near-term T3 Project (now referred to as the Motheo Project) in Botswana to the Company’s Global Development pipeline, whilst also adding a significant landholding in the highly prospective Kalahari Copper Belt.

Sandfire is the 2019 winner of the Golden Gecko Award for Environmental Excellence in recognition of the DeGrussa Solar Farm. Awarded by the WA Department for Mines, Industry Regulation and Safety, the Golden Gecko recognises leading practice and innovation in environmental management.

Sandfire completes the acquisition of MOD Resources Ltd.

Positive Record of Decision (ROD) released by the Montana Department of Environmental Quality (MTDEQ) to grant a Mine Operating Permit (MOP) for the Black Butte Copper Project, located in Montana, USA.

Feasibility study and maiden JORC Ore Reserve announced for the Black Butte Copper Project’s Johnny Lee Deposit in Montana, USA, and updated JORC Mineral Resource estimate for the nearby Lowry Deposit, located 3km south-east of the Johnny Lee Deposit.

Sandfire Board approves the commercial development of the T3 Copper-Silver Deposit (Motheo Copper Mine) located in the Kalahari Copper Belt of Botswana. The final investment decision was based on the positive results of an Optimised Definitive Feasibility Study (DFS), which outlined a robust initial 12.5-year mining operation based on a base case 3.2 Mtpa processing capacity and open pit development of the T3 Deposit.

Announcement of a maiden Inferred Mineral Resource estimate for the A4 Copper-Silver Deposit, located 8km west of the T3 Copper-Silver Deposit, of 6.5Mt at 1.5% Cu and 24g/t Ag, for 100,000t of contained copper and 4.9Moz of contained silver.

The government of Botswana grants the Mining Licence for the Motheo Copper Mine, paving the way for full-scale construction of the project to commence, with initial site works already underway.

Announcement of a maiden Ore Reserve for the A4 Deposit, located 8km west of the Motheo Copper Mine in Botswana and completion of a pre-feasibility study (PFS) confirms A4 as a high-grade source of additional ore feed for the Motheo Copper Mine and highlights outstanding project economics from an expanded 5.2Mtpa mining operation compared to the initial 3.2Mtpa base case development scenario approved in December 2020.

Sandfire announces the proposed, transformational acquisition of the world-class MATSA Mining Complex from Mubadala Investment Company and Trafigura for US$1.865 billion.

Sandfire announces sale of its investment in Adriatic Metals Plc for gross proceeds of $97 million.

Sandfire announces the completion of the MATSA Mining Complex acquisition and welcomes the MATSA team to Sandfire. The transformational acquisition delivers Sandfire 100% ownership of MATSA, a long-life Tier-1 asset with three underground mines and a modern 4.7Mtpa processing facility, located in the world-class Iberian Pyrite Belt in the Huelva Province of Andalusia in south-western Spain.