General
Thunderbird mineral sands mine gets Chinese buy-in approval from Foreign Investment Review Board
A proposed half-a-billion dollar zircon and titanium dioxide mine in Western Australia has been given approval to sell 50 per cent of the project to a Chinese steel producer to raise the funds needed for construction.
Key points:
- FIRB and Commonwealth approves a $143 million Chinese buy-in of a proposed Wa mineral sands mine
- Yansteel is a privately owned Chinese steel producer and will own 50 per cent of the project
- State and Federal Governments are expected to earn more than a billion dollars in taxes and royalties over the life of the mine
Perth-based Sheffield Resources has been trying to raise funding for the Thunderbird mine on the sandy Dampier Peninsula, between the north-west towns of Broome and Derby, since gaining federal…
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