TNG Ltd. reported the results an updated feasibility study and financial model for its 100% owned Mount Peake vanadium-titanium-iron project in Australia’s Northern Territory. The results reconfirm and enhance outcomes reported in a definitive feasibility study completed in 2015.
The new study assumes open-pit mining followed by production of magnetite concentrate at Mount Peake. Life-of-mine beneficiation feed material is estimated at 81 million metric tons (mt) at an average grade of 0.37% V2O5, 6.87% TiO2, and 26.38% Fe. This includes an ore reserve of about 41.1 million mt, with the remaining material sourced from measured and indicated resources.