Sheffield Resources Limited uploaded a Earnings Report
October 14, 2024
Annual Report 2024
Report Highlights:
- Sheffield Resources has achieved a major milestone in October 2023 with the transition to full scale production at the Thunderbird Mineral Sands Mine. This was achieved ahead of schedule, on time, and within the original AUD 484M budget, despite challenges posed by global inflationary pressures.
- Alongside the successful ramp-up of production at Thunderbird, Sheffield made strategic investments in international projects, including a USD 2.5M investment in the South Atlantic Project in Brazil, supporting exploration and feasibility studies. The company is well-positioned for the future, with AUD 10M in cash, and expectations of sustained mineral sands production in the upcoming financial year.
- The company demonstrated outstanding safety performance over the 1.5 million hours of work completed during both construction and operational phases with zero lost time injuries. Sheffield has remained committed to employing its predominantly local workforce in the West Kimberley region, with 83% local residents and a diverse team with 30% Aboriginal employees and 29% female representation.