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DeGrussa delivers another strong quarter for Sandfire

DeGrussa delivers another strong quarter for Sandfire

Photo by Bloomberg

27th July 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Copper/gold miner Sandfire Resources has reported a strong June quarter, with copper production up slightly on the previous quarter.

Copper production in the three months to June reached 17 867 t, up from the 15 531 t in the previous quarter, while gold production was reported at 9 548 oz, down slightly from the 10 926 oz delivered in the March quarter.

Sandfire on Friday reported that the DeGrussa mine, in Western Australia, produced 412 116 t during the quarter, with a total of 391 909 t of ore milled for the quarter.

For the full year, copper production at the DeGrussa mine reached 64 918 t, and 39 273 oz of gold was produced in the same 12-month period.

A total of 72 512 t of concentrate, containing 17 515 t of copper and 10 085 oz of gold was sold during the quarter, with 260 765 t of concentrate, containing 62 918 t of copper and 38 510 oz of gold sold in the full year.

For the 2019 financial year, Sandfire was forecasting copper production of between 63 000 t and 67 000 t, and gold production of between 37 000 oz and 40 000 oz.

C1 cash costs for the 2019 financial year are estimated at between $1/lb and $1.50/lb, compared with the A$0.93/lb achieved in 2018.

Edited by Creamer Media Reporter

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