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Highlights

  • Sandfire Resources advanced 7.71% to AUD 13.600, supported by copper supply concerns and electrification trends.
  • Capstone Copper rose 9.147% to AUD 12.290, setting an all-time high since listing on the ASX in April 2024.

Australian copper miners advanced as copper prices hovered near multi-month highs, buoyed by expectations of strong demand from China after the world’s largest metals consumer unveiled plans for “more proactive” fiscal policies to support its slowing economy.

Meanwhile, gold prices inched up 0.02% to USD 3,768.50 and silver gaining 0.17% to USD 44.26, even as copper eased 0.14% to USD 10,357.05 following a 15-month peak. For context, the S&P/ASX 200 Materials Index climbed 3.34%, making it the second-best performing sector of the day, in contrast to the benchmark S&P/ASX 200 Index, which slipped 0.42%.

Sandfire Resources Ltd (ASX:SFR)

Sandfire Resources Ltd is a copper-focused companies on the ASX, with operations aligned to growing demand for copper in electrification and renewable technologies.

Shares are trading at AUD 13.600, up AUD 0.910 (7.717%). Market capitalisation is AUD 5.28 billion, placing it in the ASX 200 Materials group.

In FY25, the company delivered USD 528M EBITDA, USD 90M profit after tax, and net debt of USD 123M.

For FY26, the company expects copper equivalent production of 157kt, a 2% increase from FY25, with underlying operating costs rising 10% at both MATSA ($86/t) and Motheo ($44/t). Exploration spending is forecast at USD 46M, up 15%, with increased drilling in the Iberian Pyrite and Kalahari Copper belts. Capital expenditure is set at USD 230M, including construction of a new TSF at MATSA and completion of the Black Butte pre-feasibility study in Q2. Infill drilling at A1 is scheduled for Q1 to support a maiden reserve in Q4.

As of 31 December 2024, SFR asset - Motheo’s Mineral Resource stood at 59.5Mt grading 1.0% Cu and 13.6g/t Ag, containing 570kt copper and 26.2Moz silver—down 11% and 9% respectively since June 2024 due to mining depletion and remodelling. Ore Reserves totalled 42.4Mt at 0.9% Cu and 13.5g/t Ag, with 381kt copper and 18.4Moz silver, reflecting similar declines.

Capstone Copper Corp (ASX:CSC)

Capstone Copper Corp is a copper producer with operations across the Americas. The company was listed on the ASX in April 2024.

Shares are trading at AUD 12.290, up AUD 1.030 (9.147%). The bid and offer ranges are between AUD 12.290 and AUD 12.300. Market capitalisation is AUD 10.86 billion, placing it in the Materials group.

Recently, Capstone Copper announced that it had restored sulphide copper production at its Mantoverde mine in Chile to full capacity after a temporary disruption caused by a ball mill motor failure, previously announced on August 31. The company confirmed that five days of planned maintenance remain scheduled for the end of September. Earlier, on 25 August, Capstone announced that its Pinto Valley site in the United States had been awarded The Copper Mark, a globally recognised assurance framework for responsible copper production.