Hainan Wensheng High-Tech New Materials Co., Ltd (Hainan Wenshen) signed the first off-take agreement with Sheffield Resources, a listed company in Australia. The agreement contains presale terms of zircon sand from Thunderbird mineral sands in West Australia.
Thunderbird Mineral Sands Project
stipulates no less than 27000 tons of zircon sand supply per year, or 54%
production of the Project Phase I. The agreement will expire in 5 years, and
extend on a yearly basis hereafter with annual supply of no less than 50000
tons. Sheffield Resources made it clear in the announcement that the off-take
agreement with Hainan Wensheng will bring revolutionary development to
The project will open in the second season of 2018, preparations are underway. As Mr. Bruce Mcfadzean said, General Manager of Sheffield Resources, we are very happy for the cooperation between Sheffield Resource and Hainan Wensheng. It represents the establishment of a new sales network for zircon sand. On the Thunderbird project, we will also provide ilmenite, besides zircon sand. Strong demand will bring more purchase order. He also said, this agreement means more than half of the high grade zircon sand concentrate from Project Phase I have been presold. Therefore, quality of the product can be assured with greater confidence.