A surging copper price has seen Sandfire Resources Ltd post NPAT of $60.8 million for the six-month period ended December 31.
The performance was bankrolled by output from DeGrussa in Western Australia, while the company eyes development of the $US259 million T3 Motheo mine in Botswana.
The performance was bankrolled by output from DeGrussa in Western Australia, while the company eyes development of the $US259 million T3 Motheo mine in Botswana.
“[it]…represents our first mine development outside DeGrussa – and one of the few significant new copper mines currently being developed anywhere in the world,” Sandfire MD Karl Simich said.“The T3 development is expected to form the cornerstone of the new, long-term Motheo copper hub for Sandfire in the Kalahari Copper Belt. The base case 3.2 mtpa development outlined in the December 2020 DFS confirmed strong economics over an initial 12.5-year mine life using conservative copper pricing, however we expect to be able to quickly expand to a 5.2 mtpa operation through the inclusion of the A4 satellite deposit.
“We also have a host of targets yet to be drilled within our dominant 26,650sq km landholding in Botswana and Namibia, and will be continuing to drill throughout the remainder of 2021.”