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Technology Metals Australia (ASX:TMT) - Managing Director, Ian Prentice
Managing Director, Ian Prentice
Source: Morgans Financial
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  • Technology Metals Australia (TMT) has awarded FLSmidth a $50 million contract to supply key roasting kiln equipment and conduct a front-end engineering and design study
  • This work will be conducted to further develop the company’s Gabanintha Vanadium Project in Western Australia
  • FLSmidth’s equipment and technology actually qualifies for financing assistance from EKF
  • EKF is an export credit agency who FLSmidth has worked with for nearly a century
  • Company shares are 8.82 per cent in the green and trading for 18.5 cents each

Technology Metals Australia (TMT) has chosen FLSmidth as its preferred supplier of the key roasting kiln section of the Gabanintha Vanadium Project in WA.

FLSmidth will also be responsible for conducting a front-end engineering and design (FEED) study. The FEED study will commence once TMT gives written instruction and expects it will take 26 weeks.

The value of the contract is roughly $50 million. This includes approximately $860,000 for the FEED study.

FLSmidth is a Danish engineering company and a leading supplier of production facilities, equipment and service solutions to the mining and cement industries.

Technology Metals and FLSmidth developed a relationship during Gabanintha’s definitive feasibility study (DFS) phase. FLSmidth conducted the pilot plant scale salt roasting test work on a bulk sample of Gabanintha magnetic concentrate at its facility in Pennsylvania, U.S.

This test work enabled ongoing processing of the magnetic concentrate to measure key processing factors such as salt dosage, vanadium solubility, recovery and residence times.

FLSmidth then used the data from the test work to assist in engineering design, sizing and cost estimate studies for the roasting section of the processing circuit to be included in the DFS.

“Formalising this relationship with the world’s leading supplier of rotary kilns enables the company to leverage off FLSMIDTH’s expertise as well as pursue the opportunity to access support from the Danish export credit agency, EKF, as a major step in implementing the company’s project financing strategy,” Managing Director Ian Prentice said.

Pleasingly, the equipment and technology FLSmidth will supply qualifies for financing assistance from EKF, who FLSmidth has worked with for nearly a century.

Receiving financial support represents a major step in fulfilling TMT’s strategy of developing Gabanintha large-scale, low-cost, long-life primary vanadium mine.

Company shares are 8.82 per cent in the green and trading for 18.5 cents each at 11:00 am AEST.

TMT by the numbers
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