Australia's Sandfire Resources falls amid broader market weakness

Sandfire Resources

05/06/2024 03:13

(Updates with levels)
    ** Shares of Sandfire Resources  SFR.AX  fall as much as
6%to A$8.825, hitting their lowest level since April 24
    ** Stock set to face worst day since May 23, if current
losses hold
    ** SFR stock shadows broader miners' weakness  .AXMM , which
is down as much 1.6%, hitting its lowest in a month after iron
prices in top steel producer China declined to their lowest in
seven weeks 
    ** Additionally, the co says external probe found it damaged
Aboriginal cultural heritage at a copper mine in Western
Australia due to "ignorance and process failings"
    ** Adds damage came to its attention in September 2023
    ** Stock had risen 27.9% this year, as of last close

 (Reporting by Shivangi Lahiri and Archishma Iyer in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))