TNG in talks for Mt Peake finance, offtakes

6th March 2018

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) - Australian strategic metals developer TNG on Tuesday said it has had preliminary meetings with Germany's KfW IPEX-Bank and received a positive hearing with an expression of interest to conduct further due diligence ahead of possible mandating for finance for the development of its flagship Mount Peake vanadium/titanium/iron project, in the Northern Territory.

The ASX-listed company has also engaged with other debt finance providers, including North Australia Infrastructure Fund and Australia's Export Credit Finance Agency, Efic. "The extent of their potential involvement in the funding package is unknown at this stage, but we expect updates in this area shortly," it stated.

The miner already has binding life-of-mine (LoM) agreements in place with Woojin Metals, a memorandum of understanding with trader Wogen for LoM sales and marketing of titanium dioxide products and an agreement with trader Gunvor for iron products.

The miner added that it was in continued discussions with other interested parties for the remaining 40% of forecast vanadium pentoxide production, while it was also discussing titanium pigment offtake with producers and end-users of pigment products.

Meanwhile, TNG reported that it had also received proposals for the engineering, procurement and construction of the Mount Peake project and was reviewing potential partners which were best positioned and aligned with TNG's development objectives.

"The Mount Peake project business model could benefit from an increase in demand for vanadium pentoxide as a result of the commodity's immense large-scale battery potential," the company noted, adding that it had investigated and subsequently successfully produced commercial-grade vanadium electrolyte (VE) from Mount Peake.

"VE has a number of significant differences to other battery metals or materials. VE efficiency does not decay over time, is highly stable, and is suitable for large complexes, towns and manufacturing sites. The long-term nature of the battery makes them ideal to replace static long-term diesel power," it stated.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION