Name of the Project
Thunderbird mineral sands project.

Location
Kimberley region, northern Western Australia.

Project Owner/s
Kimberley Mineral Sands (KMS), a 50:50 joint venture between Sheffield Resources and YGH Australia Investment.

Project Description
A bankable feasibility (BFS) has been completed on a simplified process flowsheet for the project, which has resulted in lower capital costs and improved margins for a significant improvement in project economics.

The 2022 BFS has removed the ilmenite processing circuit, which included the low-temperature roaster circuit and ilmenite magnetic separation circuit included in the 2019 bankable feasibility study update.

The BFS flowsheet is expected to produce a nonmagnetic concentrate product containing zircon and rutile, an ilmenite-rich magnetic concentrate and a paramagnetic concentrate.

Thunderbird will be developed in two stages.

Stage 1 and 2 of operations is expected to produce 1.4-million tonnes a year of zircon and ilmenite concentrates over an estimated 36-year life-of-mine (LoM).

The initial Stage 1 mining and processing feed rate is forecast at 1 085 dry tonnes an hour at the wet concentrate plant, with Stage 2 doubling the wet concentrate feed rate to 2 170 t/h during Year 5 of operations.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The BFS delivers a prefinance, after-tax net present value, at an 8% discount rate, of A$1.28-billion and internal rate of return of 27.5% over the LoM.

Capital Expenditure
Stage 1 is estimated at $361-million, including contingency. Total funding requirements for Stage 1 are estimated at A$484-million.

Planned Start/End Date
First production is targeted for the first quarter of 2024.

Latest Developments
Full project financing and a final investment decision on Thunderbird is expected in mid-2022.

Key Contracts, Suppliers and Consultants
GR Engineering Services (engineering, procurement and construction – process facilities).

Contact Details for Project Information
Sheffield Resources, tel +61 8 6555 8777 or email info@sheffieldresources.com.au.