Sandfire Resources (ASX:SFR) is well placed to capitalise on the...

Sandfire Resources (ASX:SFR) is well placed to capitalise on the strong outlook for copper, recently approving construction of the US$259 million T3 Motheo Copper-Silver Project in Botswana.

“The copper price is trading some 26 per cent higher than this time last year and 72 per cent above its low in March 2020, during the onset of the COVID-19 pandemic,” Sandfire managing director and CEO, Karl Simich, said late January.

It’s moved even higher since then.

“The consensus for copper amongst most of the world’s major investment banks is for a positive outlook – traditionally a bellwether for the global economy,” Simich says.

“This view is supported by the potential for synchronised global growth as post-pandemic stimulus packages kick in and the world embarks on a decarbonisation push which in turn will drive an increase in demand for copper and other industrial commodities required to facilitate global investment in electric vehicles and renewable energy.”