PERTH (miningweekly.com) – ASX-listed TNG has inked a cooperation agreement with contractors McMahon Services and Clough Projects to provide construction services for the Mount Peake vanadium/titanium/iron project, in the Northern Territory.
The agreement will see McMahon and Clough joint venture (JV) review the Mt Peake definitive feasibility study and evaluate the preliminary construction management and procurement contracting (EPC) services required for the project, along with the TNG’s strategic engineering partner SMS Group.
TNG MD Paul Burton said on Friday that the strategic cooperation agreement put in place the foundation for an expansive EPC approach to the financing and construction of the Mt Peake project, creating a structure which would potentially include two of Australia’s leading construction and engineering groups in the final EPC team.
“We already have a strong and long-standing relationship with our Germany-based strategic engineering partner, SMS Group, and this agreement with Clough and McMahon is designed to build on and enhance that relationship.”
The updated feasibility estimated a capital expenditure of A$583-million to develop Mt Peake, with the TIVAN process plant expected to have a design feed capacity of 900 000 t/y of magnetite concentrate and to be expandable to 1.8-million tonnes a year.