TNG unlocks Mount Peake value with pigment processing breakthrough for its titanium mineralisation

TNG Limited ASX TiO2 pigment titanium Mount Peake

TNG Limited (ASX: TNG) is a step closer to unlocking more value from its Northern Territory-based Mount Peake project after reporting a research breakthrough that enables it to produce titanium dioxide pigment from its vanadium, titanium and iron mineralisation at Mount Peake.

The breakthrough was the result of collaborative research between TNG, the Australian Government’s Commonwealth Scientific and Industrial Research Organisation (CSIRO), METS and SMS Group.

Based on the conventional sulphate pigment processing method, TNG’s technological breakthrough has enabled TNG to produce sulphate pigment directly using its TIVAN-treated titanium feedstock without further beneficiation.

“We continue to kick goals on this project, which now incorporates a number of world-leading technological breakthroughs in our downstream process – taking us further up the value chain with the real potential to further enhance the project economics,” TNG managing director Paul Burton said.

“This effectively closes the loop on all our TIVAN-generated products and gives us a very robust business model, with world-class products,” he said.

Since 2009, TNG has been working on developing the TIVAN process to commercially extract the three primary minerals from Mount Peake – vanadium, iron and titanium dioxide.

TNG has proposed to base the TIVAN beneficiation plant about 10km from the Darwin Port. The future plant will have initial capacity for 900,000 tonnes of magnetite concentrate per annum with the ability to boost this to 1.8mt by its fifth year of production.

The plant has been designed to produce vanadium pentoxide, pigment grade titanium dioxide and pig iron.

In an updated definitive feasibility study that was published in November last year, Mount Peake has a projected A$11.7 billion in life-of-mine net cash flow, after a capital outlay of A$853 million.

The plant has been designed to have a 40-year life.

Mount Peake has a measured, indicated and inferred resource estimate of 160mt grading 0.28% vanadium, 5.3% titanium and 23% iron.

With the titanium dioxide pigment processing breakthrough under its belt, TNG has advanced its discussions with partners for its titanium dioxide product and potential financing.

TNG shares rocketed 10% in early morning trade to A$0.16.

Join Small Caps News

Get notified of the latest news, events and stock alerts