Thunderbird deal in FIRB's sights

SHEFFIELD Resources has signed a non-binding term sheet with Chinese steel producer Yansteel to form a joint venture to progress the development of the stalled Thunderbird mineral sands mine in Western Australia’s north.

Thunderbird deal in FIRB's sights Thunderbird deal in FIRB's sights Thunderbird deal in FIRB's sights Thunderbird deal in FIRB's sights Thunderbird deal in FIRB's sights

Sheffield managing director Bruce McFadzean in Derby in 2018.

Under the terms of the deal Yansteel will pay $130.1 million for a 50% share of the project and $12.9 million for a 9.9% stake in the company.

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