Sheffield Resources signs MOUs for Thunderbird zircon sales

Company News

by David Chau

Sheffield Resources (ASX:SFX) has signed two memorandums of understanding (MOUs) for the future sale of premium zircon, sourced from its Thunderbird Mineral Sands Project in Western Australia.

The MOUs are non-binding and were signed with two companies, Ruby Ceramics (based in India) and CFM Minerales (based in Spain).

Sheffield says the combined deals represent around 20% of the estimated total volume of premium zircon to be produced from Stage 1 of its Thunderbird Project, which has an estimated mine life of 42 years.

The parties plan to finalise negotiations and offtake agreements in the coming months.

This morning, Sheffield shares dropped 1.03% to 48 cents. 

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