Metal Tiger builds its portfolio across wide range of projects

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18237500 - businessman hand pointing to investment as concept

(, , , ) flagged the A$1.9bn (GBP1bn) acquisition agreed by 3.4%-owned Sandfire Resources Limited of the Minas De Aguas Tenidas (MATSA) mining complex in Spain and a A$1.25bn equity raising.

The transaction will immediately transform Sandfire into one of Australia’s largest copper focussed producers, Metal Tiger said, with an expected pro-forma production next year of 170-194,000 tonnes of copper equivalent at direct costs of US$0.4-0.5/lb at MATSA and US$1.0-1.1/lb at its DeGrussa mine.

MATSA comprises three underground mining operations feeding a 4.7mln-tonnes-per-year processing facility with modern infrastructure producing 100-120,000 tonnes per year of copper equivalent.

The deal provides Sandfire “exposure to a long-life and first-quartile low-cost operation, with ~12 years mine life based on Resources and significant life extension and exploration potential, and a successful track record of replacing and growing Resources and Reserves”, Metal Tiger said.

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