Sandfire hits FY26 targets on record Q4 copper production

The news: Sandfire Resources has reported record fourth-quarter group sales revenue of USD574 million ($821 million) and underlying EBITDA of USD343 million, driven by surging copper equivalent production during the period

The context: CEO Brendan Harris attributed the strong quarter to a 38% copper production increase during the period, bringing annual production to 154,200 tonnes, which lands comfortably within previous targets.

Harris added that the uplift in copper output was primarily driven by strong performance at its Motheoopen open pit in Botswana, which saw a 65% increase in copper production. The company also recorded a 22% increase in contained metal volumes at its Spain-based MATSA operation.

The strong June quarter production enabled the company’s balance sheet to finish the year with an unaudited net cash balance of USD353 million, up from USD277 million in the previous quarter.