TNG Limited is poised to start construction of its Mount Peake vanadium-titanium-iron project, 230km north-west of Alice Springs, after receiving federal environmental approval this week.
With Northern Territory and Federal environmental approvals in place, TNG now awaits only the grant of the Mount Peake mining lease before site-based construction can commence.
The company said it was advancing financing discussions for an $853 million development comprising an open pit mine and on-site 3Mtpa concentrator, expanding to 6Mtpa in the second stage of development.
The operation would be linked by rail to hydrometallurgical metals refinery, using TNG’s trademarked TIVAN process, in Darwin.
The project is forecast to produce 243,000 tonnes of high-purity vanadium pentoxide, 3.5 million tonnes of titanium pigment and 10.6 million tonnes of iron oxide over its 17-year life.
Australian engineering group Como Engineers has been appointed as lead consultant for project management of the construction of the beneficiation plant and key infrastructure at the project.
McMahon Services and Clough Projects will work together to provide key engineering, procurement and construction (EPC) services for Mount Peake.