PERTH (miningweekly.com) – Metals developer TNG has moved to acquire 100% of the TIVAN hydrometallurgical process.

The TIVAN process, which is currently jointly owned with engineering group Mineral Engineering Technical Services (METS), was developed as a cost-effective alternative to conventional pyro-metallurgical processes for vanadium ore, and forms part of TNG’s development plans for the flagship Mount Peake vanadium/titanium/iron project, in the Northern Territory.

“It is important for the commercialisation of the process that the technology ownership is crystalised with a beneficial outcome for both parties,” said TNG MD Paul Burton.

Under an agreement signed with METS, the engineering firm would assign its interest in the technology to TNG, allowing TNG to become the sole owner of the patent and process for nil consideration.

Under the agreement, METS would remain the preferred contractor for the continued development of the TIVAN process, as well as any subsequent developments and improvements.

METS would also retain 25% of any up-front licence fee that TNG would reach with third-party users, and would be allowed to undertake testwork for other companies wishing to use the TIVAN process.

METS would also be entitled to 25% of any royalty payment that TNG negotiates with a third-party user.

Burton said that the agreement with METS allowed for the consolidation of the process technology and placed TNG in a strong position to move forward to complete the final commercialisation of the TIVAN process as part of the Mount Peake definitive feasibility study.

The agreement also provided a new business strategy for the company, Burton said.

In September, the Northern Territory government awarded the Mount Peake project major project status, allowing for a “whole-of-government” approach to the project.

A prefeasibility study has found that Mount Peake could be a 2.5-million-tonne-a-year operation, with a 20-year mine life. The project could be expanded to a five-million-tonne-a-year operation after the first three years, to deliver yearly production of 15 300 t of vanadium oxide, 375 000 t of titanium dioxide concentrate and 1.13-million tonnes of iron oxide.