Ann: Media Speculation - China Copper Imports, page-53

Goodmoring all Sandfire Resources Ltd (ASX: SFR; Sandfire or the Company) is pleased to announce that it has
completed the largest-ever single shipment of copper concentrate from its 100%-owned DeGrussa
Operations in Western Australia.
The shipment, comprising 23,000 wet metric tonnes (wmt) of copper concentrate, departed the Port
of Geraldton bound for refining at smelters in Europe, facilitated by Concord Resources, one of
Sandfire’s long-standing off-take partners.
The shipment is valued at more than A$52 million at current spot copper prices.
Sandfire’s Managing Director and CEO, Karl Simich, said the record shipment marked another
pleasing milestone for its high-grade DeGrussa Operations in Western Australia, which was
continuing to benefit from the current strong conditions in the global copper market.
“Apart from being a significant milestone in itself, this record shipment is also testament to the strong
demand for the high-grade, high-quality copper concentrate that we produce at DeGrussa from a
range of long-term customers around the world,” Mr Simich said.
“Sandfire has a strong global network of concentrate customers spanning China, Japan, Korea, The
Philippines and Europe which we have built up over the past decade thanks to the consistency of
production from the DeGrussa Operations and the exceptional quality of our product.
“This shipment also reinforces the deep, liquid and mature nature of the US$150 billion-a-year global
market for copper concentrate, which is currently benefiting from a raft of government stimulus
measures being implemented around the world, many of which are focused on infrastructure, green
energy and decarbonisation – all of which are heavily copper intensive.
“Europe and China are both currently investing heavily in incentivising Electric Vehicles, which
underpins a buoyant demand outlook for copper over the medium and long-term.
“This combined with strong underlying demand from the construction and industrial sectors and
structural challenges to global mine supply due to declining discoveries and mine grades means that
the fundamentals of the copper market are amongst the best of the base metals complex.
“Following the recent positive Final Investment Decision for the development of the T3-Motheo
Copper-Silver Project in Botswana, with production scheduled to commence from early 2023,
Sandfire is in a very strong position to continue to benefit from these positive demand fundamentals
well into the future.”
ENDS
For further information contact:
Sandfire Resou