Sandfire (ASX: SFR) hit their peak

• 5.2Mtpa Motheo Copper Project Expansion to drive peak copper production to 55ktpa.
• Positive DFS completed for the 5.2Mtpa Motheo Copper Project expansion, including the A4 Deposit Ore Reserve
• Combined Total Ore Reserve for both the A4 Deposit, located 8km west of the Motheo Copper Mine and the T3 Deposit:
• Company Australian Stock Exchange shares are $4.72.

Sandfire’s Managing Director and CEO, Karl Simich, said the decision to commit to an expansion of the Motheo Copper Mine following completion of the 5.2Mtpa Expansion Case DFS marked another important milestone in the Company’s plans to establish a major new long-term copper mining hub in the Kalahari Copper Belt.

“The DFS has confirmed the robust economics of the expanded project and provides a clear pathway for us to move ahead with an immediate expansion of the 3.2Mtpa project.

“With construction activity well advanced, the 3.2Mtpa project is on schedule for completion in the March Quarter of FY2023, with first concentrate expected in the June Quarter of FY2023, allowing the expansion project to ramp up immediately following receipt of environmental and mining approvals.

“The international team that is delivering the 3.2Mtpa project will seamlessly transition across to the 5.2Mtpa development project, including A4 mining development and process plant expansion.

“In parallel with this development, we are also continuing a major exploration campaign both in the near-mine area as well as across our extensive landholding in the Kalahari Copper Belt aimed at defining additional ore sources that can feed into our expanded processing hub at Motheo or support the development of new production centres across the region.”