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 BFS 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 are 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 an internal rate of return of 27.5% over the LoM.

Capital Expenditure
Stage 1 is estimated at A$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
The project has started producing ore, several weeks ahead of the original final investment decision.

The initial stages of ore processing will result in a gradual ramp-up to steady-state processing and production of concentrates, as well as the building of concentrate product stockpiles on site and at the Port of Broome, in preparation for the first delivery of product to customers.

Sheffield has reported that Kimberley Mineral Sands, its 50%-owned joint venture with Yansteel, will load the first shipment of concentrate product early in the first quarter of 2024.

Key Contracts, Suppliers and Consultants
GR Engineering Services (engineering, procurement and construction – process facilities); and Piacentini & Son (services contract).

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