Sandfire Resources (ASX: SFR) has provided its annual report to shareholders for FY25.
In his address, managing director and CEO, Brendan Harris said the business has transformed in FY25 to become a globally significant producer of copper.
Our strong financial results reflect the quality of our operations and our proven operating and development credentials.
With your support, we have had another successful year as we remained focused on our intentionally simple and unchanged strategy, which is designed to safely and sustainably maximise total shareholder returns, while delivering a lasting benefit to our local communities.
Safety
Nothing is more important than the health, safety and wellbeing of our people and the communities we are so proud to be a part of. We closed FY25 with a Group Total Recordable Injury Frequency (TRIF) of 1.7 as 16 injuries were recorded compared with 15 last year. This was clearly a disappointing outcome and we remain resolute in our belief that it’s possible to have a workplace that is injury free, and steadfast in our efforts to eliminate high- potential incidents that can lead to high consequence injuries. This is why we are embedding our new way of working, The Sandfire Way, to strengthen our overall system of risk management and control.
Sustainability
Guided by our purpose and values, sustainability must permeate everything we do and every decision we make. That’s why sustainability isn’t defined as an individual pillar of our strategy, but rather as a way of thinking and acting, whether that be when we’re working with our local communities, seeking to minimise our environmental footprint, keeping people safe and well, or driving operational performance. It’s this focus that will secure our company’s position as a valued member of our communities and maintain our social licence. In our capital intensive industry, we must think long-term.
Meaningful engagement with Traditional Custodians and Indigenous Peoples, and the protection of their cultural heritage, remains a priority for us. This year we enhanced our Group approach to the management of cultural heritage by publishing our Human Rights and Social Performance Group standard and we continued to work hard to rebuild our relationship with the Yugunga-Nya and Gingirana people in Western Australia.
In FY26, we will develop our Group Community Investment Approach, which will align with our business strategy and be structured to meet local needs and stakeholder expectations, with the clear intent of moving toward strategic needs- based community investment that has a longer-term benefit.
Our People
We believe an inclusive and equitable workplace that values diversity, delivers better business outcomes and enables our people to achieve their full potential.
If there was ever an industry that needs to draw from the broadest talent pool, it’s ours given the historical challenge attracting young talent to the earth sciences and engineering.
Within this context, I am pleased to report that we have maintained 40:40:20 gender diversity within both our Board and Executive Leadership Team and have increased female representation to 26% across our global portfolio, including local levels of representation in Botswana and Spain that significantly exceed industry norms. But we’re not resting on our laurels and recognise there is so much more to do and that’s why, over the past year, we have evolved our focus from Inclusion and Diversity (I&D) to a more comprehensive framework of Diversity, Equity, and Inclusion (DEI). This shift reflects our commitment to address the systemic barriers that impact equity in the workplace and our Inclusion and Diversity Committee network, that spans our global footprint, has continued to drive the implementation of our core priorities throughout the year.
View the Appendix 4G and Corporate Governance Statement
