SFRRF - Sandfire Resources Limited (SFRRF) Q3 2024 Earnings Call Transcript
2024-04-30 02:50:08 ET
Sandfire Resources Limited (SFRRF)
Q3 2024 Earnings Conference Call
April 29, 2024, 10:00 PM ET
Company Participants
Brendan Harris - CEO and Managing Director
Megan Jansen - CFO
Jason Grace - COO
Richard Holmes - Chief Development Officer
Conference Call Participants
Ben Lyons - Jarden
Kaan Peker - RBC
Rahul Anand - Morgan Stanley
Mitch Ryan - Jefferies
Daniel Morgan - Barrenjoey
Alex Papaioanou - Citi
David Radclyffe - Global Mining Research
Paul Young - Goldman Sachs
Presentation
Operator
Thank you for standing by, and Welcome to the Sandfire Resources' March 2024 Quarterly Report Call. All participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. [Operator Instructions]
I would now like to hand the conference over to Mr. Brendan Harris, Chief Executive Officer and Managing Director. Please go ahead.
Brendan Harris
Hello and good morning.
I'd like to acknowledge the traditional custodians of the land on which we stand, the Whadjuk people of the Noongar Nation, as well as the First Nations peoples of the lands on which Sandfire conducts its business. We pay our respects to their elders and leaders, past, present and emerging. My name is Brendan Harris, CEO of Sandfire. I'd like to welcome you to our quarterly call. I'm joined here in Perth by our colleagues, Megan Jansen, Jason Grace, Richard Holmes, Catherine Bozanich, Victoria Twiss, and Scott Browne.
Starting with safety, we've seen our total recordable injury frequency increase in the quarter to 1.9 and a rise in high potential incidents. All of which emphasizes the work we have to do to protect the health and well-being of our people. Nothing is more important and we can always do better. Sustainability must permeate everything we do, from the way we ensure our people are safe to the work we do with our local communities to create lasting, positive outcomes.
In March, we held our first committee meetings with the Yugunga-Nya under our new framework agreement. The meetings were held on country in Meekatharra, where I was joined by Cath, our CSO. This was another important step toward rebuilding our relationship with the Yugunga-Nya and ensuring the ongoing protection of cultural heritage at DeGrussa. We're taking a long term view and will stay the course and do what's right.
I also understand that the external investigation commissioned by Sandfire to better understand the process failures that led to the disturbance of the artifact scatters and taking time before we notify the Yugunga-Nya, will be completed shortly. The findings of this investigation will be made available to the Yugunga-Nya before being shared with government, industry, and other stakeholders.
Turning to our operating performance. Importantly, we have retained FY '24 group copper equivalent production guidance for the 135,000 tonnes and we've tweaked broader financial guidance. We've flagged the combined $18 million reduction in underlying operating and exploration expenditure in FY '24 and a $23 million increase in non-cash D&A....
Sandfire Resources Limited (SFRRF) Q3 2024 Earnings Call Transcript