Total
0
Shares
TNG (ASX:TNG) - Managing Director & CEO, Paul Burton
Managing Director & CEO, Paul Burton
Source: The Assay
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Environmental approval for TNG’s (TNG) Darwin Tivan processing facility is still pending as the company finalises key environmental reports
  • The Northern Territory Environment Protection Authority requested an environmental impact statement (ESI) for the processor earlier this year
  • Potential issues raised during the public comment period means TNG has to provide supplementary information addressing these concerns
  • TNG has since completed technical studies to offer alternative solutions to issues such as waste and water management
  • These studies are yet to be officially reported by the company with a completion date for the supplementary ESI expected January 2021
  • Shares dropped 5.43 per cent on the back of the announcement, trading at 8.7 cents apiece by market close

Environmental approval for TNG’s (TNG) Darwin Tivan processing facility is still pending as the company finalises key environmental reports.

The proposed Darwin Tivan facility will treat magnetite concentrate from its Mount Peake mine site, enabling the extraction and production of titanium dioxide, vanadium pentoxide and iron oxide.

The company’s draft environmental impact study for the processor was first submitted in October 2019 and made available for public comment from December 2019 to February 2020.

An environmental impact assessment is only required in the Northern Territory if its Environment Protection Authority decides the proposal has the potential to have a significant environmental impact.

A total of three public submissions and 52 comments from Northern Territory public agencies were received the by public and Northern Territory Government agencies during the public comment period.

As a result, TNG was requested to submit a supplement to the draft Environmental Impact Statement in April, clarifying and providing alternate solutions to a number of issues raised.

The studies and revisions include marine and coastal assessments, revised greenhouse gas, revised air quality, an updated noise impact assessment, wastewater treatment plant and traffic impact.

The company’s December newsletter confirmed the technical viability of a customised wastewater treatment plant for the Darwin Tivan facility, with an evaluation of its potential inclusion in the project design underway.

TNG representatives met with the Northern Territory Environment Protection Authority in early December to present an overview of the revised studies and solutions undertaken by TNG contractors to provide in the supplementary ESI.

TNG advised it had completed the 12 further technical studies but was yet to finalise reporting.

The full list of revisions can be found in the company’s December 18 ASX release.

The company has not indicated the outcome of the meeting but has advised it is on track to submit the supplementary environmental impact statement for January 2021.

TNG has been contacted for further comment.

Shares dropped 5.43 per cent on the back of the announcement on December 18, trading at 8.7 cents apiece by market close.

TNG by the numbers
More From The Market Herald
AusQuest (ASX:AQD) - Managing Director, Graeme Drew

" AusQuest (ASX:AQD) gets green light to drill at Los Otros

AusQuest (AQD) has been granted permits to begin drilling at its Los Otros Porphyry Copper Project in southern Peru.

" Albion Resources (ASX:ALB) eyes maiden drilling program at Lennard Shelf

Albion Resources (ALB) has received heritage clearance for its maiden drilling program at Pilbara East which is expected to kick off this month.
Sunshine Gold (ASX:SHN) - Managing Director, Damien Keys

" Sunshine Gold (ASX:SHN) confirms copper-molybdenum system at Titov

Sunshine Gold (SHN) has confirmed a large-scale copper-molybdenum system at the Titov prospect at Ravenswood West.
Sunrise Energy Metals (ASX:SRL) - CEO, Sam Riggall

" Sunrise Energy Metals (ASX:SRL) advances self-titled battery project

Sunrise Energy Metals (SRL) spent much of the September quarter focused on progressing its Sunrise Battery Materials Project in NSW.