Sandfire Resources reported sales revenue of $1,653,666k for the year ended 30 June 2026, marking a 41% increase compared to $1,176,006k in the previous financial year.

The financial uplift was underpinned by robust operational performance across the portfolio, delivering Group copper equivalent production of 154.2kt after achieving annual and quarterly ore processing records at both MATSA and Motheo. Profit after tax increased more than threefold to $354,269k, up from $89,902k in FY25, while Underlying EBITDA grew by $339,319k to $867,019k compared with $527,700k in the prior period. Underlying earnings reached $350,035k, compared to $111,300k previously.

Operations in Andalusia, Spain, centre on MATSA, a polymetallic mining operation comprising a 4.7Mtpa central processing facility that sources ore from the Aguas Teñidas, Magdalena, and Sotiel underground mines. Across the wider group, cost control remained generally resilient despite supply chain pressures, keeping Underlying Operating Unit Costs within 5% of guidance at $89/t at MATSA and $46/t at Motheo.

The strong financial conversion enabled the company to establish a net cash balance of $353M as of 30 June 2026. This prompted the board to declare a fully franked final dividend of 35 Australian cents per share, with a record date of 11 September 2026 and payment scheduled for 30 September 2026.

Strategic portfolio expansion advanced during the period when Sandfire secured an exclusive right to acquire an 80% interest in the Kalkaroo Copper-Gold Project in South Australia. The company has since commenced a ~US$70M pre-feasibility study featuring a planned ~130km infill and extension drilling program designed to substantially increase the existing 100Mt copper and gold reserve.

Total capital expenditure is budgeted to rise from $230M in FY26 to $299M in FY27. The increased spending will fund accelerated drilling at Kalkaroo, construction of a new tailings dam at MATSA, and the stage 4 cutback of the T3 open pit at Motheo. Looking to the upcoming financial year, the company forecasts Group copper equivalent production between 150kt and 166kt, accompanied by an incremental increase in Underlying Operating Unit Costs to $90/t at MATSA and $47/t at Motheo.

“In this context, we expect to deliver Group copper equivalent production within a range of 150kt and 166kt in FY27 with only an incremental increase in Underlying Operating Unit Costs, thereby preserving margins and further bolstering an already strong balance sheet. This, in turn, supports our planned 30% increase in capital expenditure to $299M that will allow us to accelerate drilling at the Kalkaroo Copper-Gold Project, while progressing construction of our new tailings dam at MATSA and the stage 4 cutback of the T3 open pit at Motheo.”

— Brendan Harris, CEO and Managing Director

Chief Executive Officer and Managing Director Brendan Harris noted that the strong operational and financial performance provides the foundation for continued investment in the company's growth assets as it moves into FY27.

Read the full announcement: App 4E, FY26 Financial Results Overview and Annual Report