NAIF approves $95m for Thunderbird
SHEFFIELD Resources has been given a boost for its Thunderbird mineral sands project in WA’s Kimberley region after the Northern Australia Infrastructure Facility (NAIF) approved a $95 million loan.
The loan enabled Sheffield to construct on-site LNG power generation and storage facilities at Thunderbird, upgrade mine site roads, in-source mine site accommodation and facilitate the construction and revitalisation of ship loading and logistics assets within the Port of Derby in WA.
As a result of the loan, Sheffield would no longer require third party facilities, which would reduce operating costs.
Production is expected to begin in 2020.