BEIJING (Asian Metal) 11 Sep 19 – Australian-based TNG Limited advised today that as part of the ongoing Front-End Engineering Design process for its Mount Peake Vanadium-Titanium-Iron Project in the Northern Territory, it has optimised its planned execution and delivery strategy for the project, delivering savings and reductions in upfront capital costs while maintaining robust economics.

As part of the company’s continued focus on reducing pre-production capital expenditure for the project, a development strategy based on an initial production rate of 2 million tonnes per annum (“Mtpa”) ore throughput at the beneficiation plant has been selected by TNG and its advisors. This follows a detailed financial analysis of the revised mining schedule.

Under the revised mining schedule, the mine life extends to 37 years from the previously planned 20 years. The company now expects to produce, in the life of mine, 3.5 Mt of titanium dioxide pigment, equal to 100,000 tpa on average, 0.231 Mt of vanadium pentoxide, equal to 6,000 tpa on average, and 17.6 Mt of iron oxide, equal to 500,000 tpa on average.

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