Sheffield Resources Limited (SRL) has announced a major milestone in the development of its Thunderbird Mineral Sands project in the Kimberley, with the Deputy Premier of Western Australia, Roger Cook, ratifying the $160 million Northern Australian Infrastructure Facility (NAIF) loan.
SRL Executive Chair, Bruce Griffin, said the Western Australian Government’s execution of the loan facility’s documentation is a key step on the road to delivering the project, which will provide significant economic benefits to the Kimberley’s residents.
“Sheffield wishes to thank and acknowledge the welcome support of the Western Australian Government for Thunderbird and the establishment of a leading new mineral sands project that will deliver significant economic benefits for the people of the Kimberley region,” Mr Griffin said.
“In partnership with our joint venture partner Yansteel, we look forward to providing employment opportunities to many more local Kimberley residents and those in the wider Western Australian community.”
In conjunction with third party project financing being sourced by Kimberley Mineral Sands, the execution of the NAIF loan documentation was vital to enabling Kimberley Mineral Sands to achieve Financial Close and utilise the loan facilities over the coming months.
Naust Capital is acting as project financing adviser to Kimberley Mineral Sands in relation to the NAIF loan facility.
