Sandfire Resources Ltd
XBER:S2Z

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Sandfire Resources Ltd
XBER:S2Z
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Price: 3.0615 EUR Market Closed
Market Cap: €2.1B

Sandfire Resources Ltd
Investor Relations

Sandfire Resources is a mining company that explores for, develops, and operates mines that produce copper and other metals. Its main business is digging ore out of the ground, processing it into concentrate, and selling that concentrate to metal traders and smelters. Copper is the key product because it is widely used in electrical wiring, power grids, construction, and industrial equipment. The company makes money by selling the metal-bearing material it produces from its mines. Its customers are usually commodity buyers, smelters, and trading houses that turn the concentrate into refined metal. Sandfire sits in the middle of the mining value chain: it does the hard work of finding deposits, building mines, and turning rock into a saleable product. What makes Sandfire different is that it is a resource producer rather than a manufacturer or retailer, so its business depends on geology, mine planning, and operating costs. Its results are tied to the quality of its ore bodies, how efficiently it can extract and process them, and the prices buyers are willing to pay for the metals it sells.

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Last Earnings Call
Fiscal Period
Q3 2026
Call Date
Apr 23, 2026
AI Summary
Q3 2026

Safety: Sandfire reported its first-ever fatality at Magdalena, calling it tragic and unacceptable, and said it immediately activated emergency protocols and is supporting the investigation.

Production: March-quarter group copper equivalent output fell short of expectations because of heavy rain, unplanned maintenance at MATSA, and a delay in higher-grade ore at Motheo.

Guidance: Management said FY '26 group copper equivalent production is still expected to land in the lower half of the 149,000 to 165,000 tonne range.

Costs: Despite higher energy, freight and input costs, the company said FY '26 operating unit costs remain on track at $86 per tonne at MATSA and $44 per tonne at Motheo.

Cash flow: Sandfire delivered record quarterly financial results with $408 million of sales revenue, $220 million of underlying EBITDA, and $76 million of net cash.

Growth plans: The company is moving ahead with a large South Australian drilling and study program at Kalkaroo, with total investment that could reach AUD 100 million and drilling that could exceed 130,000 meters over 12 to 24 months.

Key Financials
Group sales revenue
$408 million
Underlying EBITDA
$220 million
Underlying margin
54%
Net cash
$76 million
Group copper equivalent production guidance
149,000 to 165,000 tonnes
Motheo copper equivalent production guidance
58,000 to 64,000 tonnes
MATSA copper equivalent production
21,700 tonnes
MATSA year-to-date copper equivalent production
68,000 tonnes
Group TRIFR
1.5
High potential incidents
5
MATSA unit cost
$86 per tonne of ore processed
Motheo unit cost
$44 per tonne of ore processed
Botswana effective tax rate
34% to 37%
Havilah payment
AUD 46.5 million
Botswana tax payments
$26.1 million
Kalkaroo drilling program
130,000 meters
Kalkaroo total investment
AUD 100 million
Kalkaroo minimum drilling commitment
20,000 meters
C1 cost
below $1 per pound
Earnings Call Recording
Other Earnings Calls

Management

Mr. Brendan Harris B.Sc., C.P.A.
CEO, MD & Director
No Bio Available
Ms. Megan Jansen
Chief Financial Officer
No Bio Available
Mr. Jason Grace B.Sc.
Chief Operating Officer
No Bio Available
Mr. Ben Crowley
Head of Investor Relations
No Bio Available
Mr. Scott Browne B.Com.
Chief People Officer
No Bio Available
Ms. Samantha Masters
Head of Health, Safety, Environment & Communities
No Bio Available
Mr. Richard Holmes B.Sc.
Chief Development Officer
No Bio Available
Mr. David Wilson
Head of Commercial
No Bio Available
Ms. Cath Bozanich
Chief Sustainability Officer
No Bio Available
Ms. Pippa Prior
Joint Company Secretary
No Bio Available

Contacts

Address
WESTERN AUSTRALIA
Perth
Level 2,10 Kings Park Road, West Perth
Contacts
+61864303800.0
www.sandfire.com.au
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