Sandfire to acquire MOD Resources for A$167m.

Sandfire, a dynamic mid-tier Australian mining and exploration company, to acquire MOD Resources, which engages in the exploration of copper and silver in Botswana, for A$167m. Commenting on the acquisition, Karl Simich, Managing Director and CEO of Sandfire, said: "The acquisition of MOD adds the near-term T3 Project in Botswana to our global development pipeline while also adding a significant landholding on the highly prospective and underexplored Kalahari copper belt. The acquisition ticks all of our boxes from an acquisition criteria perspective and is value-accretive based on the T3 asset alone which, importantly can be funded out of cash flow."