JOHANNESBURG (miningweekly.com) – Australian strategic metals company TNG has signed a memorandum of understanding (MoU) with renewable energy group Energy Made Clean (EMC) to evaluate and implement energy supply options for its Mount Peake vanadium project, including the potential supply of a solar power system to the project.
TNG MD Paul Burton said in a media statement on Friday that the MoU complemented the company’s existing relationship with a global battery manufacturer and potentially paved the way for the design and installation of a fully integrated, state-of-the-art solar power system and vanadium redox battery power storage system at the Mount Peake mine site, in the Northern Territory.
TNG last month announced an MoU with a vanadium battery manufacturer for the potential supply of a vanadium redox battery at the Northern Territory project.
Burton added that the solar power and vanadium redox battery power storage system had the potential to make a significant contribution to reducing TNG’s overall power costs at the project, while at the same time putting TNG and Mount Peake at the forefront of renewable energy use in the resource sector.
“As a future supplier of metals which are increasingly used by the ‘green energy’ sector, it is totally appropriate that we should be investing in a renewable energy solution for Mount Peake, and partnering with some of the world’s top practitioners in this area,” he continued.
TNG is currently in the final stages of its advanced feasibility study for the Mount Peake project, which would be a potentially world-class, long-life strategic metals project producing high-purity vanadium pentoxide, iron oxide and titanium dioxide.
The company stated that the feasibility study would be completed in the next few weeks, with the results anticipated to be announced in July.
“We look forward to progressing our discussions with EMC as part of the final stages of the feasibility study, which will ultimately allow us to enter into a binding agreement as we move into the financing and execution phase for this exciting project,” Burton said.