Minister for Industry, Science and Technology, the Hon. Karen Andrews MP, has awarded Federal Major Project Status to TNG Limited’s 100 per cent owned Mount Peake Vanadium-Titanium Iron Project in the Northern Territory.
The grant of Federal Major Project Status by the Australian Government is a recognition of the strategic significance of the project as it is expected to grow and diversify Australia’s critical minerals resources and contribute to the economic development of the Northern Territory.
The Mount Peake Project is a world-scale strategic metals asset that is planned to be developed across two separate sites in the NT with a mine and processing facility life of 37 years, and an initial significant capital investment  and jobs creation to deliver the project.
The project is expected to deliver substantial new infrastructure for the Territory including a mining operation, Beneficiation Plant and TIVAN® Processing Facility, as well as supporting non-processing infrastructure additions and upgrades, including haul roads, logistics infrastructure, utilities infrastructure and office/camp facilities.
The TIVAN® Processing Facility is proposed to be located at the Middle Arm Precinct in Darwin, which has recently been recognised as a nationally-significant investment priority area by Infrastructure Australia.
TNG is developing the TIVAN® process to overcome limitations of the conventional processing of titanomagnetite, using a unique and optimised combination of existing pyro and hydrometallurgical processes enabling the maximum value to be extracted.
The TIVAN® process is 100 per cent owned by TNG and is protected by a series of global patents. The process utilises new technology designed in Australia and overseas to reduce its environmental footprint to become a low carbon operation.
The development of the Mount Peake Project is expected to create up to an estimated 1,600  jobs during the construction phase and up to an estimated 1,000  long-term jobs during the operational phase.
TNG is targeting an annual production of 100,000 tonnes of titanium pigment (the base material for outdoor paints and coating), 6,000 tonnes of vanadium pentoxide (for use in steel strengthening and alloys and VRFBs) and 500,000 tonnes of iron oxide (for use in steel production) making this a world-class multi-commodity resource with in-country value-adding.
The current status of the Project is that TNG is progressing a front-end engineering and design (FEED) study with German-based engineering firm, SMS group, which will provide confirmation of the final capital expenditure required for the Beneficiation Plant and the TIVAN® Processing Facility which will then lead to an Engineering Procurement Construction (EPC) proposal for delivery.
In parallel with the FEED study and as part of the TNG’s vertical integration strategy for the Mount Peake Project, the company is advancing its green energy strategy with the establishment of a VRFB business unit and a joint partnership with SMS group to develop a carbon-neutral hydrogen production technology to be applied to the TIVAN® process.
The Mount Peake Project has also secured Major Project Status from the Northern Territory Government.
This morning TNG’s Managing Director and CEO, Paul Burton, said Mount Peake is a world-class project which is set to deliver critical minerals required for the growing demand from the renewable energy sectors from Australia to global markets for many decades to come.
“The award of Major Project Status by the Australian Federal Government is a testament to the substantial economic and social benefits expected to be delivered by the Project and its potential strategic significance to the Northern Territory and Australia in expanding and diversifying our critical minerals industry,” Mr Burton commented.
“Securing the support and involvement of the Australian Government in helping to facilitate the development of a global scale critical minerals project like Mount Peake is significant for TNG and its shareholders.”
“It will assist in ensuring certainty of process for the remaining permitting and approvals required both for the Mount Peake mine site and the Darwin TIVAN® Processing Facility and represents an important endorsement of the Project as we embark on the next stages of project financing,” he said.
“Additionally, TNG and the Mount Peake Project is well-positioned to contribute to the growing demand for sustainable green energy through TNG’s newly established VRFB business unit and its strategic partnership with SMS group to develop a CO2-neutral technology for green hydrogen production.”
TNG discovered the Mount Peake deposit in 2008.
 Subject to completion of the FEED and EPC outcome.