Aug 11 (Reuters) - Sheffield Resources Ltd SFX.AX :
* ENTERS NON-BINDING TERM SHEET WITH YANGANG (HONG KONG)'S UNIT YGH AUSTRALIA INVESTMENT TO FORM JV
* JV TO DEVELOP THUNDERBIRD MINERAL SANDS PROJECT
* YANSTEEL TO INVEST A$130.1M IN EQUITY TO ACQUIRE 50% INTEREST IN PROJECT