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- TNG (TNG) revises environmental impact report and completes work delayed by COVID-19 as it continues to develop its Mount Peake project in the Northern Territory
- After being awarded major project status, TNG has been working to advance engineering, permitting, development planning and commercial work streams
- Validation test-work is expected to be complete in the coming months, following delays due to COVID-19 which impacted staffing and the procurement of materials
- Work is also underway to update a number of technical studies as requested by the Northern Territory Environmental Protection Authority
- Company shares have been trading 10.1 per cent lower at 6.2 cents at 3:00 pm AEDT
TNG (TNG) is putting together a revised environmental impact report and completing work delayed by COVID-19, as it continues to develop its Mount Peake project in the Northern Territory.
The vanadium-titanium-iron project is reportedly one of the largest undeveloped vanadium-titanium-iron projects in the world and is located 235 kilometres north-west of Alice Springs.
The company’s strategy for the project is to develop a fully-integrated single mining and processing operation to produce vanadium pentoxide, titanium dioxide pigment and iron oxide for export, through the application of its processing technology, known as the TIVAN Process.
Mount Peake was awarded major project status in March last year and TNG has been working to advance engineering, permitting, development planning and commercial work streams to bring it to production.
In November, Australian engineering and construction company Clough Projects Australia completed an integrated design layout for the project and is now progressing this to the second stage which is expected to be completed by the second quarter of this year.
Validation test-work is also underway, following delays due to COVID-19 restrictions which impacted workforce availability of SMS staff and the procurement of materials to undertake the tests.
This work is being carried out in Australia and Austria, with completion expected to occur in the coming months.
TNG has also been working to reduce the projects overall carbon footprint by undertaking technical and commercial assessments of the use of hydrogen reductant in the current flowsheet.
A water extraction licence application was submitted in April last year for water supply for the mine site and beneficiation plant requirements, and the company expects approval will be received imminently.
The Northern Territory Environmental Protection Authority has provided a referral document for the project under the Environment Protection Act 2019, which indicates that various technical studies require updating.
A number of areas will be revised including biological surveys, air quality, noise impact and a mine closure plan.
Scopes of work for the technical studies have been developed following consultation with the Northern Territory EPA, and TNG said work has been progressing with relevant information from the previous Environmental Impact Statement documents being utilised to support the updates, where applicable.
This work is expected to be complete by the second quarter of 2022, with a revised environmental impact report to be submitted for approval by the September quarter.
Liaison with the Central Land Council is also continuing on any additions needed in regards to the existing Indigenous Land Use Agreement.
TNG commenced these discussions in September last year, requesting a meeting
with the Traditional Owners.
According to the company’s indicative project timetable, implementation of its project financing strategy is scheduled for the September quarter with a final investment decision expected in the December quarter.
Company shares were trading 10.1 per cent lower at 6.2 cents at 3:00 pm AEDT.
