THE BOURSE WHISPERER: Sheffield Resources (ASX: SFX) has signed a binding Port Access Agreement with the Shire of Derby-West Kimberley in Western Australia.
Sheffield Resources explained the Agreement spans a minimum of 20 years of planned production and provides the company with long term access to a bulk handling facility and associated infrastructure located at the Port of Derby.
Sheffield intends exporting its mineral sands bulk products including LTR ilmenite, zircon concentrate and titanomagnetite from the company’s Thunderbird mineral sands project through the Port of Derby to markets around the world.
Infrastructure at the Port of Derby was previously used for the export of base metal concentrates and is very well suited to the export of mineral sands products.
“The execution of this Port Access Agreement is a key milestone for Sheffield as we move a step closer to developing the Thunderbird mineral sands project,” Sheffield Resources managing director Bruce McFadzean said in the company’s announcement to the Australian Securities Exchange.
“We welcome the Shire of Derby-West Kimberley and the WA Department of Transport’s support in facilitating this agreement, which will enable the transhipment of our bulk commodity products from Thunderbird.
“The Port facility will provide employment and contract opportunities for the people of Derby as we move Thunderbird toward construction and into production.”