Higher copper prices drive Sandfire profit

Copper miner Sandfire Resources has seen its net profit after tax increase from A$48-million to A$77.5-million in the 2017 financial year, on the back of higher copper prices and lower costs. The company said that the increased copper price, lower costs and consistent operational performance allowed Sandfire to retire its debt, nearly double its year-end cash position to A$126.7-million and declare a record fully funded franked dividend of 13c.