01/02/2018 - 15:09

Sheffield locks in zircon deal

01/02/2018 - 15:09

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Aspiring mineral sands miner Sheffield Resources has signed an offtake agreement with a Chinese processor for nearly 20 per cent of the planned zircon production at its Thunderbird project near Derby.

Sheffield locks in zircon deal
Bruce McFadzean welcomed Jinsheng as a new customer.

Aspiring mineral sands miner Sheffield Resources has signed an offtake agreement with a Chinese processor for nearly 20 per cent of the planned zircon production at its Thunderbird project near Derby.

Under the agreement, Sheffield will supply 9,000 tonnes of zircon annually for the next five years to Qingyuan Jinsheng ZR & TI Resources, representing about 18 per cent of the total volume from stage one of the project.

Sheffield is aiming to begin construction of the project in the second quarter of 2018.

Managing director Bruce McFadzean welcomed Jinsheng as a new customer.

“With this agreement now in place, more than 60 per cent of stage one forecast revenue is contracted under binding offtake agreement, covering 93 per cent of our stage one premium zircon product and 100 per cent of the stage one zircon concentrate product,” he said

“As we enter 2018 we continue to see strong demand for our products, which is reflected by our success to date.

“We look forward to providing the community and our shareholders with further offtake and project updates in the near future.”

Shares in Sheffield were up 2.2 per cent at 68 cents each. 

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