JOHANNESBURG (miningweekly.com) – ASX-listed Sheffield Resources has signed its fifth binding offtake agreement for the future sale of premium zircon from the Thunderbird mineral sands project, in Western Australia.
Qinqyuan Jinsheng ZR & TI Resources (Jinsheng) has agreed to a five-year minimum supply of 9 000 t/y of premium zircon, representing about 18% of the estimated total volume of premium zircon to be produced from Stage 1 of the mine.
The agreement with Jinsheng, a downstream processor of zircon materials into China boosts Sheffields’ total forecast revenue from Thunderbird under binding agreement to over 60% of Stage 1 production, covering 93% of Stage 1 premium zircon production and 100% of the Stage 1 zircon concentrate product.
“As we enter 2018, we continue to see strong demand for our products, which is reflected by our success to date,” Sheffield MD Bruce McFadzean said.