Sandfire lifts sales, output in December quarter

The news: Copper and nickel miner Sandfire Resources says it is on track to lift group output after recording improved sales and production for the December quarter.

The numbers: Group copper equivalent production for the three months to December came in at 324,000 tonnes, up 5% from the prior quarter. Sandfire said it booked unaudited sales revenue of $217 million and underlying earnings of $84 million during the December quarter.

The context: Sandfire is targeting 50% growth in copper equivalent production over the two years to the end of FY25. It achieved first commercial production at its Motheo copper mine in Botswana in July 2023 and has been keen to expand the project. It has also been trying to boost output at the Matsa copper mine in Spain that it acquired in 2021.