NAIF approves A$95m loan for Thunderbird mineral sands project

Northern Australia Infrastructure Facility (NAIF) has approved loans totalling A$95 million ($69 million) for Sheffield Resources' Thunderbird mineral sands project in the Kimberley region of Western Australia. The loans will enable construction of onsite gas-fired power generation, storage, accommodation, road upgrades and shipping facilities from the Port of Derby.

The project will no longer need to satisfy the terms of a $25 million contingent instrument facility as part of the $200 million debt finance package with Taurus Mining.