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Sandfire backs Colombia-focused junior

Australian copper miner Sandfire Resources has bought a big stake in unlisted gold explorer Andes Resources.

Sandfire backs Colombia-focused junior Sandfire backs Colombia-focused junior Sandfire backs Colombia-focused junior Sandfire backs Colombia-focused junior Sandfire backs Colombia-focused junior

Sandfire MD Karl Simich (left) and Andes MD Jason Stirbinskis

Sandfire has acquired 16.7 million shares at A12c per share for $2 million, giving the miner a near 19.6% stake.

The investment is part of a broader $3 million capital raising.