Global copper miner Sandfire Resources (ASX:SFR) has posted a 17% increase in copper equivalent production for the September quarter, benefiting from the first full quarter of production from its Motheo Copper Operations in Botswana.
Sandfire produced 30.8kt of copper equivalent for the quarter, including 8.0kt of Cu and 0.2Moz of Ag at Motheo, the equivalent of 8.5kt copper.
The copper miner has maintained its Group production, cost and capital expenditure guidance for the 2024 financial year.
Sandfire continued to mitigate cost inflation at its MATSA copper operations in Spain, showing a modest improvement in productivity that underpinned an underlying mine operating cost of $70/t of ore processed.
During the quarter, Sandfire progressed the low-cost expansion of Motheo’s processing circuit to 5.2Mtpa completing all design and procurement activities and the assembly of the new ball mill’s shell and head, grouting of the base plate and lining of the trunnions in readiness for final installation.
The ramp-up of the expanded processing circuit to 5.2Mtpa is expected to occur in the March 2024 while the A4 open pit is expected to provide first ore to the primary crusher and SAG mill in the September 2024 Quarter, as forecast.
Sandfire chief executive officer Brendan Harris said it was a pleasing start to the financial year.
