Sandfire reports strong FY25 performance, targets further copper growth

Sandfire Resources Limited's 2025 annual general meeting revealed a robust financial year, with group copper equivalent production increasing by 12% to 152.4kt. The company achieved record sales revenue of $1,176m and a 46% increase in underlying EBITDA to $528m. This strong performance enabled a significant $273m reduction in net debt, bringing it to $123m as of June 2025, with a further reduction to $62m by September 2025.

Key operational highlights included Motheo's successful ramp-up beyond its initial nameplate capacity to 5.6Mtpa, achieving 58.3kt CuEq production, and MATSA's consistent performance with 94.1kt CuEq production despite severe weather. Sandfire maintained 40:40:20 gender diversity across its board and executive and sourced 71% of electricity from renewables. For FY26, Sandfire expects to increase CuEq production by a further 2% to 157kt, with a capital expenditure of $148m at MATSA.

The company's capital management framework prioritizes a strong balance sheet and disciplined investment in operations and exploration, with a focus on increasing reserves. No dividend was declared for FY25, as Sandfire continues to prioritize investment in the business and de-gearing its balance sheet. Voting results from the AGM confirmed the re-election of Mr. Robert Edwards and Ms. Sally Martin as directors, and the adoption of the remuneration report.