Sandfire Resources recently completed a US$1.86B acquisition of the MATSA mining complex in Spain to transform itself into a major copper player.
MiningNews reported Macquarie analysts describing the deal as a “game-changer”, saying it had transformed the outlook for Sandfire.
MATSA is a substantial polymetallic mining complex in the Iberian Pyrite Belt producing about 100,000-120,000 tonnes of copper per year. With 3 underground mines and a 4.7M tonne per annum central processing facility, the complex features cutting-edge technology and infrastructure.
The acquisition includes 2450sq.km of ground in Spain and Portugal that has seen very little exploration in the past decade, possibly extending mine life & boosting production.
“Our vision for Sandfire is to become an international diversified and sustainable mining company, and the completion of this transaction represents a major step closer to realising this aspiration,” Sandfire Managing Director, Karl Simich, said in the MiningNews article.