Sandfire Resources Opens DeGrussa Copper Mine in Western Australia

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Researched by Industrial Info Resources Australia (Perth, Australia)--Sandfire Resources NL (ASX:SFR) (Perth, Australia) opened the DeGrussa copper mine this week in Western Australia. The open pit mine was developed only four years following the discovery of the site. Western Australian Premier Colin Barnett MLA attended the opening.

In Australia's current economic climate, where various projects are facing the continuous threat of reduced development activity, this project presents a positive scenario. The deposit boasts a high-grade VMS copper/gold mineralization, with the added benefit of low operational costs.

The mine site is approximately 900 kilometres northeast of the Western Australian capital city of Perth, where the official ceremony was held. The mine site, which was developed as an open pit mine during the first two years of operation, enabled the company to progress to an underground addition.

For the 2013 financial year, the DeGrussa production already has produced more than 70,000 tonnes of copper metal and 50,000 ounces of gold worth more than $500 million, including 64,017 tonnes of copper and 42,697 ounces of gold.

Onsite operations have the capacity to process approximately 1.5 million tonnes per annum of ore, 75,000 tonnes copper-in-concentrate, and 45,000 ounces of gold. The high-grade ore is processed via concentrators and is then transported via port locations along the western Australian coastline at both Geraldton and Port Hedland.

Although Sandfire Resources has faced daunting financial restrictions, the company is now in a position to continue exploration at an annual price tag of approximately AUD$20 million. Based on the current estimates of production, it has the potential to become Western Australia's largest copper mine.

Karl Simich, the managing director of Sandfire Resources, announced that the milestone ceremony was a great opportunity to congratulate those who helped to make it possible.

"The DeGraussa discovery was the direct result of our commitment to keep exploring through a very challenging period in the market, immediately after the global financial crisis," Simich said. "While we acknowledge the good fortune we enjoyed, it was this commitment and persistence that ultimately enabled us to make the discovery that has propelled Sandfire into the ranks of Australia's leading mid-tier miners, bringing positive financial and economic benefits to a wide range of stakeholders."

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