Thunderbird Mineral Sands Project
The Thunderbird Mineral Sands Project is a 50/50 joint venture between Sheffield and YGH Australia Investment Pty Ltd (“Yansteel”), formed in 2021 to develop the Thunderbird Mineral Sands Project. Thunderbird's large scale, high grade, high in-situ zircon content is globally significant. A Bankable Feasibility Study (BFS) completed in March 2022 confirmed Thunderbird as a world class mineral sands project based on a 36-year mine life and globally significant annual production of zircon and ilmenite.
Operation of the Thunderbird mine commenced in October 2023. Thunderbird is underpinned by one of the world's largest and highest grade, zircon and ilmenite-rich mineral sands ore reserves. The ore reserve stands at 754Mt @ 11.0% HM (proven and probable) while the Mineral Resource contains 3.23 billion tonnes @ 6.9% HM, including a higher grade component of 1.05 million tonnes @ 12.2 % HM with very high in-situ zircon (0.93%) and ilmenite (3.3%) grades (Measured, Indicated and Inferred). These grades, its size, and surface outcropping nature, place Thunderbird in the top tier of HMS deposits globally.