Sandfire Resources Ltd (ASX: SFR) is an established ASX listed company, focused on copper and future facing metals.  Prior to the MATSA acquisition, Sandfire’s major assets comprised the high quality DeGrussa project in Western Australia and the Motheo project in Botswana.   

Over 2021-22 BurnVoir Corporate Finance acted as financial adviser to Sandfire to arrange US$650 million of non-recourse acquisition debt facilities to fund the acquisition of MATSA from Trafigura and Mubadala. Located on the Iberian Pyrite Belt in Spain, MATSA comprises three underground mining operations and a world-class central processing facility with 4.7Mtpa capacity. 

With total consideration of US$1.865 billion, the acquisition was one of the largest acquisition finance transactions in recent years. The acquisition transformed Sandfire into a leading global copper mining company, increasing annual production to over 170kt CuEq from world class assets. 

BurnVoir managed all debt arranging, structuring and execution tasks in relation to the acquisition debt facilities and developed and implemented the associated commodity hedging program. 

Sandfire’s acquisition of MATSA was awarded IJGlobal European Mining Deal of the Year 2022 and Mining News Deal of the Year award 2022. 

BurnVoir subsequently acted as financial adviser to Sandfire to structure, arrange and execute an amendment and extension of the MATSA debt facilities in 2023.