Why the Sandfire Resources (ASX:SFR) share price is soaring 10% higher

The Sandfire Resources Ltd (ASX: SFR) share price is up 10% in afternoon trading. This comes following a series of releases to the ASX this morning.

Importantly the announcements include significant new high-grade drilling results at the company’s A4 copper silver deposit, along with a detailed strategy update and Sandfire’s approval of a new long-life copper mine in Botswana.

We’ll look at the details of the new mine below. But first, what’s been happening with Sandfire’s share price?

Sandfire’s share price on the rebound

Despite today’s 10% surge, Sandfire Resources’ share price remain down 19% year-to-date.

Like many ASX shares, the company has yet to recover from the bashing it took during the COVID-led market…