Sheffield Resources reports record zircon sales
ASX-listed Sheffield Resources has reported that zircon concentrate shipments from the Thunderbird mineral sands mine, in Western Australia, totalled 82 000 t for the March quarter.
The Thunderbird mine is held by Kimberley Mineral Sands (KMS), a joint venture (JV) between Sheffield and Chinese company Yansteel.
Shipments were maximised in the March quarter to take advantage of strong customer interest.
As a result, the mine’s zircon concentrate inventory has reduced significantly. Sheffield notes, however, that it remains above normal expected levels.
With the prioritisation of zircon shipments and a closure of the Port of Broome in the final week of March, a final ilmenite concentrate shipment for the quarter was deferred to April, and shipments for the March quarter totalled 126 000 t.
During the quarter, KMS also shipped 18 000 t of leucoxene concentrate.
Sheffield notes that zircon ore mining for the quarter totalled 2.5-million tonnes.
Ilmenite concentrate production and zircon concentrate production were 148 000 t and 39 000 t, respectively, for the March quarter.
“Record zircon shipments for the March quarter are the result of the expanded customer base developed by the KMS marketing team and the strong interest we are seeing from existing and new customers for Thunderbird zircon concentrate.
“Combined with continued regular shipments of ilmenite to our JV partner Yansteel, these strong sales are expected to deliver the first positive quarter of operating cash flow for the Thunderbird mine - an excellent turnaround by KMS management, staff and contractors,” says Sheffield executive chairperson Bruce Griffin.
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