Australia’s Sandfire Resources said they are witnessing continued demand for copper from green energy sector, which is supporting copper prices. Sandfire noted that demand for copper concentrates globally has strengthened.
The company has a strong production base in Australia and its unit in Botswana is gaining momentum. Forecasts for copper suggest that a new-super cycle for copper is expected as the global energy transformation sets in.
The company recently shipped record amount of copper concentrate to India comprising 23,274wmt from Port of Geraldton. Shipment is valued at $50mn at current copper prices. Previous record was AUD$52mn in December last year.
CEO of the company said that the shipment was a milestone reached by its 100pc owned DeGrussa Operations, which further supports the global copper market demand.