Sandfire announces that the implementation of the Scheme of Arrangement for the acquisition of MOD Resources Ltd was completed on 23 October 2019 becoming the 100 per cent holder of MOD's copper exploration and development assets in Botswana through its in-country subsidiaries, Tshukudu Metals and Tshukudu Exploration. These include the advanced T3 Project and an extensive belt-scale exploration portfolio spanning ~11,700km2 in the Kalahari Copper Belt.
Sandfire announces plans to acquire 100% of MOD Resources Limited, adding the near-term T3 Project in Botswana to the Company’s global development pipeline while also adding a significant landholding on the highly prospective and underexplored Kalahari copper belt.
Draft Environmental Impact Statement (EIS) for the Black Butte Copper Project in Montana, USA, released by the Montana Department of Environmental Quality. This triggers the start of public comment period, after which a Record of Decision (ROD) and Mine Operating Permit could be issued.
First stoping ore delivered from the satellite Monty Copper-Gold Mine, with ore trucked to DeGrussa for processing.
Sandfire increases its ownership of the Black Butte Copper Project in Montana, USA to 86%.
Sandfire reaches agreement to acquire Talisman Mining’s 30% interest in the Springfield Joint Ventures, providing the Company with 100% ownership of the Monty copper-gold mine and surrounding exploration tenure.
Maiden Group Mineral Resource estimate completed across all Australian projects plus the Black Butte Project, USA, containing 1.9Mt of copper, 2.7Moz of gold and 15.8Moz of silver.
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.
Mining Proposal for the Monty Copper-Gold Mine approved, paving the way for the start of site works at the new satellite mine.
Sandfire completes repayment of all outstanding debt nearly 12 months ahead of the scheduled repayment date. This marks a significant milestone for the Company, with the original $380 million DeGrussa Finance Facility which was secured in 2011 to fund the DeGrussa Copper-Gold Project, fully repaid.
Sandfire's millionth (wet) tonne of concentrate was trucked from the DeGrussa Copper Mine to port.
Sandfire celebrates more than US$1.5 billion sales revenue from the DeGrussa Copper Mine.
Sandfire releases its first Sustainability Report, prepared in accordance with the Global Reporting Initiative G4 framework "core" option. Sandfire also participates in the Carbon Disclosure Project - Climate Change and Water, and is a finalist for "Best climate disclosure by a new responding company."
Construction of the 10.6MW solar power station commenced at the DeGrussa Copper Mine in Western Australia following the signing of final agreements with members of an international consortium formed to finance, construct, commission and operate this state-of-the-art facility.
Diamond drilling at the Monty prospect, which forms part of the area covered by Sandfire's farm-in with Talisman Mining, intersected a significant zone of massive sulphide mineralisation approximately 10km east of the DeGrussa Copper Mine. Assay results from this discovery hole, TLD0004A, returned an excpetional massive sulphide intercept of 16.5 metres grading 18.9% Cu and 2.1g/t Au from 409.5m to 426m down-hole. Step-out drilling immediately commenced at the new discovery to determine the size of the mineralised system and test other target areas within this highly propsective emerging area.
Plans announced to construct a 10.6MW solar power station at the DeGrussa Copper Mine, subject to various conditions including final funding. This will be the largest integrated off-grid solar array in Australia, and has the potential to establish DeGrussa as an industry leader in the use of renewable power for mining and processing operations.
Acquisition of 36% stake in copper developer Tintina Resources (TSX-V: TAU), giving Sandfire exposure to the ongoing evaluation and potential development of the Black Butte Copper Project in central Montana, USA, one of the highest grade undeveloped copper deposits in North America.
The DeGrussa Copper Mine passed the significant milestone of generating over $1 billion in revenues since the start-up of the operation in 2012. Sandfire declared its first-ever dividend of 10 cents per share for the 2014 financial year.
Official opening of the DeGrussa Copper Mine by Hon. Colin Barnett MLA, Premier of Western Australia and Minister for State Development and Science.
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 mid-tier mining company.
Stage 2 open pit completed, marking the completion of open pit operations and the transition of the DeGrussa Copper Mine to a wholly underground mining operation.
Sale of first shipment of copper concentrate from DeGrussa, comprising 5,000 dry tonnes of copper concentrate.
Commissioning of the 1.5 million tonne per annum on-site processing facility commences, with the aim of achieving steady-state nameplate production rates by mid-way through the 2013 calendar year.
First copper concentrate produced from DeGrussa as part of the commissioning process for the 1.5Mtpa DeGrussa Concentrator.
First shipment of DSO departs the Port of Geraldton.
Mining of Direct Shipping Ore (DSO) from DeGrussa commences, followed shortly after by the start of mining of underground massive sulphide ore.
$380 million project loan facility executed for DeGrussa Project development, led by ANZ Banking Group Ltd.
Positive Definitive Feasibility Study delivered for the DeGrussa Project. The DFS was based on a total mineral resource of 14.33Mt grading 4.6% Cu and 1.6g/t gold for 652,000 tonnes of contained copper and 742,000 ounces of contained gold.
The maiden blast for the excavation for the “Evans Decline” marks the start of underground development at DeGrussa.
Sandfire’s Board approves the development of the DeGrussa Project based on a robust Pre-Feasibility Study.
DeGrussa Mining Lease granted
Sandfire included in the S&P ASX 200 index of the Australian Securities Exchange.
Discovery of Conductor 5 lens at DeGrussa, approximately 900m north-east of the DeGrussa/Conductor 1 deposits.
Phase 1 JORC Compliant Indicated and Inferred Resource of 7.03Mt grading 5.2% copper, 1.9g/t gold and 15g/t silver reported for the DeGrussa and Conductor 1 lenses – less than 8 months after the initial discovery.
Discovery of a third high-grade copper-gold deposit at DeGrussa, “Conductor 4”, immediately adjacent to Conductor 1/DeGrussa.
RC drilling confirms the presence of a second, larger zone of mineralisation – “Conductor 1” – immediately north of the initial DeGrussa discovery.
Margaret Hawke, a 25-year old geologist, drills the discovery RC drill hole at Sandfire’s Doolgunna Project in Western Australia. These 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 of 75m @ 2.4% Cu and 47m @ 5.3% Cu; and 35m @ 6.9% Cu at the DeGrussa deposit.
“Sandfire is one of the Australian mining industry’s most compelling success stories, making the transition from junior explorer to leading mid-tier producer in just over three years…”
Strategic alliance secured with POSCO, a Korean-based global steel group and the world’s fourth largest steel producer. POSCO has remained a key long-term strategic partner for Sandfire.
Sandfire Resources NL lists on the Australian Securities Exchange (ASX) targeting mineral discoveries within a portfolio of projects assembled by one of Australia’s most successful prospecting geologists, Graeme Hutton.