Copper producer Sandfire Resources (ASX:SFR) has defied a "slightly softer start to the year" to deliver a massive 88% jump in first-half statutory profit, reaching US$97.1 million.
While sales revenue rose 17% year-on-year to US$672.1 million, it narrowly missed the US$674.2 million forecast by the market.
Despite the minor revenue lag, the miner remains confident in its long-term trajectory, maintaining its FY26 production guidance.
Strategic investments are also on the rise; Sandfire lifted its capital expenditure forecast by $10 million to $240 million to fuel the ramp-up of the Kalkaroo Copper-Gold Project.
Additionally, the company is doubling down on exploration, allocating $5 million in new funding toward its regional program in South Australia's Curnamona province and the Black Butte Project in Montana.
At the time of reporting, Sandfire Resources’ share price was $18.72.