TNG moves closer to Mt Peak construction
PERTH (miningweekly.com) – Metals hopeful TNG has signed a heads of agreement (HoA) with global engineering firm SMS Group to design and construct the TIVAN downstream refinery at the Mt Peak vanadium/titanium/iron project, in the Northern Territory.
Under the HoA, SMS would undertake a full due diligence of all the relevant aspects of the Mt Peak definitive feasibility study (DFS), as it relates to the TIVAN refiner, and would provide detailed engineering, design and final costing for the refinery tender.
Furthermore, SMS would also assist TNG in securing funding for the construction of the TIVAN refinery. The financing would likely include export credit agencies and other structured finance.
“SMS is a world leader in metallurgical plant design and construction, and has already played an integral role in the planning and testwork for the TIVAN plant,” TNG MD Paul Burton said on Tuesday.
“They are ideally placed to help us progress the refinery through the design and construction phases, and we are delighted to have secured their services now to implement the design and construction.”
The July DFS into the Mt Peak project estimated that some A$970-million would be required to develop the project.
The DFS considered a two-staged development, with Stage 1 comprising a three-million-tonne-a-year operation, expanding to six-million tonnes a year in Stage 2, after four years of production.
The project was expected to have average production of 17 560 t/y of vanadium oxide, 236 000 t/y titanium dioxide and a further 637 000 t/y pig iron.
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