Mount Peake FE V TI Project - Overview
THE MOST ADVANCED VANADIUM PROJECT GLOBALLY
Mount Peake is a world class strategic metals asset, located in Australia’s northern development hub, approximately 230km north of Alice Springs. Rapidly moving towards development, TNG is in advanced financing discussions and has successfully signed three life-of-mine off-take agreements for its titanium oxide, pig iron and vanadium products.
Mount Peake’s development will be a major boost for the Northern Territory economy, leveraging off its strategic location close to existing power and transport infrastructure, including the Alice Springs-Darwin railway, the Sturt Highway and an LPG pipeline.
- JORC compliant resource estimate of 160Mt @ 0.28% vanadium (V205), 5.3% titanium (TiO2) and 23% iron (Fe), 118Mt of which is a Measured Resource status
- 100% TNG owned
- Total production - 3.5Mt titanium pigment, 243,000t V2O5, and 10.6Mt Fe2O3
- Project Facilitation Agreement signed for proposed TIVAN® refinery site
- Definitive feasibility study completed in 2015, final approvals due Q1 2018
- Binding Heads of Agreement signed with SMS Group for design of TIVAN® refinery
- MOU in place for mine/refinery construction and operation
ROBUST FINANCIAL MODEL AND PROJECT ECONOMICS
- 17-year mine life
- Mining rate 3Mtpa (Stage 1) expanding to 6Mtpa (Stage 2) after 4 years
- A$4.7 billion NPV (at 8% discount rate)
- 44% IRR
- Pre-production Capex of A$853 million
- Capital payback 3 years
- Net annual operating cash flow A$738 million
- Life of Mine net cash-flow A$11.7 billion
TNG’s proprietary TIVAN® Process is a hydro-extraction process designed with German metallurgical plant supplier and development partner, SMS Group, to produce very high-purity vanadium pentoxide, titanium dioxide and iron oxide.
Mount Peake Tenement Location Map
TNG discovered the deposit in 2008 whilst outlining magnetite-bearing gabbro containing high-grade vanadium, titanium and iron. Mineralisation commences at shallow depths making the deposit readily amendable to open pit mining.
The project comprises five granted exploration licences; EL 27069, EL 27070, EL 27941, EL 29578 and EL 30483 an exploration licence in retention, ELR 29627 and four Mining Lease applications; ML 28341, ML 29855, ML 29856 and EL 30386.