Make Kitco Your Homepage

Sandfire Resources to acquire Spanish copper complex for $1.8 billion

Kitco News

Sandfire Resources (ASX:SFR) said today it is acquiring MATSA mining complex in Spain for $1.865 billion.

The complex consists of three underground mining operations feeding a 4.7 Mtpa processing facility. The mine produces 100-120ktpa CuEq per annum.

"The MATSA acquisition transforms Sandfire into a first quartile copper producer of global scale," said Sandfire CEO Karl Simich.

Sandfire operates the DeGrussa Copper-Gold Mine, located 900km north of Perth in Western Australia. In July the company announced that it received its mining licence for its Motheo Copper Mine from the Government of Botswana.

Before the MATSA acquisition Sandfire was forecasting between 64,000 and 68,000 tonnes of copper and 30,000 to 34,000 ounces of gold production for the 2022 fiscal year.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.