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Gold 3,553.77/oz
Silver 45.39/oz
Platinum 1,495.34/oz
Palladium 1,428.72/oz
Price Update

Sandfire Resources Expands Global Resource Inventory for Gold, Copper, and Silver

Sandfire Gold Mining

Sandfire Resources, a leading mining company, has announced a significant increase in its global resource inventory for gold, copper, and silver. This boost is attributed to the company’s key projects in Australia and the US, which have contributed to the expansion.

The DeGrussa mine, known for its high-quality ore reserve, and the Monty project have played a crucial role in this inventory growth. The Monty project alone is estimated to contain 372,000 tonnes of copper and 439,000 ounces of gold, further solidifying Sandfire Resources’ position in the mining industry.

Sandfire Resources also holds great potential for future growth with its Thaduna and Green Dragon deposits, which offer additional upside opportunities.

The company’s commitment to expanding resources and making discoveries has been met with joint ventures and exploration farm-in deals, supporting its growth trajectory.

Looking ahead, Sandfire Resources has identified the Black Butte copper project in Montana as a key medium-term growth project. This project holds immense strategic importance for the company, further diversifying its portfolio and enhancing its growth prospects.

Commenting on the recent developments, Sandfire’s Managing Director, Karl Simich, expressed his enthusiasm, stating, “This is underpinned by a high-quality ore reserve at our flagship DeGrussa mine and the new satellite Monty project, currently being developed, which is estimated to contain 372,000t of copper and 439,000oz of gold.”

Mr Simich also highlighted the potential future upside offered by the Thaduna and Green Dragon deposits.

Sandfire Resources is on track to meet its full-year production guidance for copper and gold. The company aims to produce between 63,000 and 66,000 tonnes of copper and 35,000 to 38,000 ounces of gold for the full year.

In the September quarter, Sandfire Resources produced 15,258 tonnes of copper and 10,669 ounces of gold, showcasing its operational strength and commitment to meeting targets.

With its expanded global resource inventory and ongoing projects, Sandfire Resources continues to solidify its position as a key player in the mining industry. The company’s dedication to growth, supported by joint ventures and exploration farm-in deals, positions it for a prosperous future.