Sandfire Resources boss Brendan Harris has praised the company’s strong finish to FY26, which included a new quarterly revenue record.
Sandfire Resources boss Brendan Harris has praised the company’s strong finish to FY26, which included a new quarterly revenue record.
Overall, group copper equivalent production reached 154,200kt for FY26, courtesy of 47,600kt during the June 2026 quarter.
As a result of this, Sandfire met its FY26 annual production guidance range of 149,000-165,000kt – propelled by a 65 per cent increase in production during the final quarter at its Motheo operations in Botswana to 21,100kt.
Mr Harris said this performance was a reflection of production beginning at Motheo’s A4 open pit, along with a record 7.1 million tonnes per annual mill throughput rate being realised.
A series of financial records were attained, including $574 million in group sales revenue, an underlying EBITDA of $343 million and net cash jumping by $277 million to $353 million - on the back of strong prices and sale volumes.
“Importantly, our teams achieved this suite of operating and financial records whilst maintaining an eye on the future, and we are set-up well operationally as we move into the new fiscal year,” Mr Harris said.
“We expect to deliver group copper equivalent production of between 150,000-166,000kt in FY27, while our underlying operating unit costs are expected to rise only incrementally at both MATSA and Motheo, notwithstanding a temporary build of high grade ROM stocks at A4, and a circa one third increase in capital investment required to accelerate our drilling program in South Australia, further progress the stage four cut back of the T3 open-pit in Botswana and develop our new tailings dam in Spain.”
Despite pleased with the end of year performance, Mr Harris also reiterated Sandfire’s sadness regarding the death of Iván Manuel Vázquez Garrido, who died at the company’s MATSA polymetallic operation in Spain’s south western corner.
“His tragic loss and the occurrence of high potential incidents underlines the importance of the work we are doing to further strengthen our safety systems, risk management processes and leadership behaviours to ensure our culture encourages everyone to speak up and stop work when something doesn’t look or feel right,” Mr Harris said.
“Nothing is more important than the safety and wellbeing of our people.”
Sandfire said it would also continue to build on foundations already laid at its Kalkaroo copper-gold project in South Australia, with the project’s pre-feasibility study earmarked for the second half of FY28.
As of 1.47pm AWST, Sandfire shares were up 3 per cent to $19.32.
