Sandfire Resources ready to go full Monty
10th August 2018
Resources Rising Stars
Sandfire Resources boss Karl Simich says the company expects to bring its new high-grade Monty copper-gold project into production by the end of this year (reports The West Australian).
The small-scale underground mine will operate as a satellite project for the company’s flagship DeGrussa project just 10km to the west.
Ore grading at nearly 10 per cent from Monty will be blended with ore from DeGrussa, with the company recently squeezing its minelife at the project out to early 2022.
Meanwhile, the company continues to ramp-up drilling on its own land and joint venture ground in the vicinity in a bid to find a sizeable new deposit to feed its plant at DeGrussa.
Monty will produce about 32,000-35,000 ounces per annum.
The company is still in the process of finalising a $74 million deal with its joint venture partner in Monty, Talisman Resources, to take out its 30 per cent stake and assume full control of the asset.
Speaking at the annual Diggers and Dealers mining forum in Kalgoorlie, Mr Simich said Sandfire had experienced a record June quarter and a record 2018 financial year.
He noted DeGrussa had delivered more than $3.2 billion in revenue in its “fantastic” six years of operation to the end of last month.
The project is expected to produce another 65,000t at record low cash costs of $US1/t.
The company is also in the final stages of permitting for its Black Butte project in Montana.
Image: Sandfire Resources
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