Last major milestone achieved, Sandfire finalizes Botswana mine

Sandfire Resources (ASX: SFR) announced today that it has received its mining license for its Motheo copper mine from the government of Botswana.

“The granting of the mining license represents the last major step in the authorization required to start full-scale construction of the US $ 279 million (AU $ 364 million) project, with initial work on the site already underway. ongoing, ”the company wrote.

According to a pre-feasibility study, the mine is expected to have an initial life of 12.5 years and ore reserves of 39.9 million tonnes at 0.9 percent copper and 12.2 grams per tonne silver . This would produce an average of 30,000 tonnes of contained copper and 1.2 million ounces of contained silver per year over the first 10 years of operation.

The mineral resource update for the A4 satellite deposit is expected to be finalized in the coming weeks, constituting the cornerstone of the strategy to rapidly increase production at the Motheo production hub from 3.2 Mtpa to 5.2 Mtpa.

Sandfire said it remains on track to start mining at Motheo in early 2022 and deliver first production in early 2023.

Warning: The opinions expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is for informational purposes only. It is not a solicitation to effect an exchange of commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article accept no responsibility for any loss and / or damage resulting from the use of this publication.

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