Sandfire Resources: Receives MATSA acquisition approval from Spanish government

Sandfire Resources Receives MATSA acquisition approval from Spanish government

• Sandfire Resources (SFR) has announced that the Spanish government has approved its US$1.86B proposal to acquire the MATSA Mining Complex in Spain
• This approval satisfies the outstanding conditions for the Sale and Purchase Agreement, with the transaction to proceed towards completion on or around January 31
• In mid-September, Sanfire announced it was planning to raise $1.28B to help with the acquisition of MATSA which hosts three underground mining operations
• Sandfire said once MATSA was combined with its own DeGrussa Operation, it could produce up to 194,000 tonnes of copper equivalent in FY22
• Shares in Sandfire are up a slight 0.61 per cent on the market and are trading at $6.63