Sandfire eyes growth as it clears debt ahead of schedule

Copper and gold miner Sandfire Resources has elected to repay its debt nearly 12 months ahead of schedule, freeing up significant cash flow to pursue growth opportunities in Australia and North America. A strong cash position of A$10.7-million and rising copper prices have enabled Sandfire to elect to repay the outstanding balance of A$50-million on its revolver facility at the end of the month, MD and CEO Karl Simich said on Tuesday, when the miner also released its second-quarter production results.