Sandfire's Black Butte Project Grows as Sale Candidate

Dow Jones07-14 07:26

2326 GMT - The addition of the Lowry ore reserve to Sandfire Resources' Black Butte copper deposit in the U.S. makes the asset more likely to be put up for sale, Jefferies says. Sandfire unveiled a maiden reserve of 4.7 million tons at Lowry. That extends Black Butte's mine life by four years, which is in line with Jefferies's expectation. "However, we believe the asset's modest scale and Sandfire's more attractive development opportunities increase the likelihood of divestment which has the potential to monetize strategic importance not reflected in our valuation," analyst Mitch Ryan says. Sandfire appears likely to prioritize the Kalkaroo project in South Australia. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

July 13, 2026 19:26 ET (23:26 GMT)

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That extends Black Butte's mine life by four years, which is in line with Jefferies's expectation. \"However, we believe the asset's modest scale and Sandfire's more attractive development opportunities increase the likelihood of divestment which has the potential to monetize strategic importance not reflected in our valuation,\" analyst Mitch Ryan says. Sandfire appears likely to prioritize the Kalkaroo project in South Australia. 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