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 (Yansteel).

Project Description
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.

The project includes the Night Train deposit, 20 km to the east of Thunderbird.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Stage 1 has an after-tax net present value (NPV), at an 8% discount rate, of A$842-million and an internal rate of return (IRR) of 26.6%.

The project has an after-tax NPV, at an 8% discount rate, of A$548-million and an IRR of 27%.

Capital Expenditure
Total funding requirement for Stage 1 is estimated at A$484-million.

Total funding requirement for Stage 2 is estimated at A$258-million.

Planned Start/End Date
First production started in the December 2023 quarter.

Stage 2’s assumed execution is expected in 2026/27, and production in 2028.

Latest Developments
Thunderbird reached record production in the September quarter.

Total ore mined rose by 6% from the previous quarter to about three-million tonnes, while concentrate output reached a new high of about 249 000 t. This included record ilmenite production of 203 000 t and zircon concentrate output of 46 000 t.

Total shipments of mineral concentrates during the quarter were about 217 000 t comprising 178 000 t of ilmenite and 39 000 t of zircon.

The record production for the September quarter is the result of implementing the business improvement plan developed by KMS earlier this year and represents “a significant turnaround for the business and a base for continued business growth”, Sheffield Resources executive chairperson Bruce Griffin said on October 6.

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.