TNG Provides Development Update On Mount Peake V-Ti-Iron Project

BEIJING (Asian Metal) 5 Feb 20 – On February 3, Australian-based TNG Limited provided an update on the multiple concurrent work streams being undertaken towards the development of its flagship Mount Peake Vanadium-Titanium-Iron Project, located in the Northern Territory, Australia.

TNG’s strategic engineering and development partner, the German-based metallurgical engineering firm SMS group, has been advancing the comprehensive front-end engineering and design (“FEED”) study for the Project. SMS are now progressing towards the delivery to TNG of its EPC proposal which will include process and product guarantees.

In parallel to the FEED study, the Company has advanced the planning and design for the non-process infrastructure (“NPI”) required at both the Darwin based TIVAN Processing Facility (“DPF”) and mine site Beneficiation Plant. The Company is now managing the tendering processes for the multiple NPI work packages.

The Company has continued to progress work and planning with its exclusive senior debt advisor and arranger, KfW IPEX-Bank GmbH, focusing on achieving a tailored debt structure to fund the development of the Project.