Aspiring minerals sands miner Sheffield Resources has signed an offtake agreement with a Chinese processor for more than half the zircon concentrate produced at its planned $348 million Thunderbird project near Derby.

The company said today it had signed a binding agreement with the largest minerals sands processor in China, Hainan Wensheng High-Tech Materials, to supply 27,000 tonnes of zircon per year for the next five years.

Under the agreement, pricing for the product will be based on the underlying $US price, while there is an opportunity to increase supply if production at the project increases above 50,000tpa.

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