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.
Edited by: Mariaan Webb
Creamer Media Senior Deputy Editor Online
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