Sandfire Resources has completed the acquisition of the MATSA Mining Complex in south-western Spain for US$1,865 million.
The polymetallic mining complex comprises three underground mines and a 4.7Mtpa central processing facility. It also boasts cutting-edge technology and infrastructure and an extensive resource base with significant growth potential.
“Today marks the beginning of an exciting new era for Sandfire, with our business expanding to an organisation with a workforce of around 3,800 direct employees and contractors around the globe. This is an incredibly exciting moment for everyone involved with our business, and I would like to take this opportunity to thank everyone who has worked so hard to bring this transaction to a conclusion,” said Karl Simich, Sandfire’s Managing Director and CEO.
According to Mr Simich, the acquisition of MATSA transforms Sandfire into one of the largest copper-focused producers on the ASX.
With high-quality operations in Spain and Australia and an impressive growth pipeline and exploration portfolio, the company is well placed to drive its growth for many years to come, according to Mr Simich.
“I am looking forward to spending time on site at the MATSA Operations over the next few weeks to help lead the integration process. As part of this, I have given a commitment to the MATSA team to provide certainty, stability, and security while minimising business disruption during this period of integration,” said Mr Simich.
“While this marks the completion of the transaction, it represents just the start of our journey with MATSA. In the days, weeks and months ahead, we will all be working incredibly hard to integrate MATSA into Sandfire to create a single unified team that will be working hard to strengthen the future of the operation and unlock the enormous exploration potential of our large landholding in Spain and Portugal.”
