Name and Location
Mount Peake vanadium/titanium/iron project, Northern Territory, Australia.

Client
TNG.

Project Description
Mount Peake comprises a large strategic measured, indicated and inferred resource of about 160-million tonnes of magnetite-hosted vanadium, titanium and iron.

The prefeasibility study envisages the construction of a processing plant, with an initial capacity of 2.5-million tonnes a year, increasing to 5-million tonnes a year.

The process to be employed involves leaching, followed by the selective recovery of iron and vanadium using the Tivan process.

The proposed plant will be divided into eight major processing areas – crushing, grinding and beneficiation, leaching, titanium beneficiation, solvent extraction, acid regeneration, tailings disposal and vanadium precipitation.

Total metal production is estimated at 245 000 t vanadium, 20.3-million tonnes of iron and 6.5-million tonnes of titanium.

Value
The total cost of the project is estimated at A$715-million, including A$563-million for the initial 2.5-million-ton-a-year plant and A$122-million for the expansion to five-million tons a year.

Duration
TNG aims to start construction in 2014, with production and exports proposed to start in 2015.

Latest Developments
TNG has submitted a notice of intent (NOI) to the Minister of Mines and Energy for the Mount Peake project, marking a key step in the approvals process for the development of the project.

The NOI is a formal notification to the authorities and other interested parties of the company’s intention to develop the project.

It provides an overview of the proposed activities, the environmental and social aspects and the proposed management strategies to be adopted by TNG in the development and operation of the project.
While TNG is reducing all significant cost outlays, in line with current market conditions, the company is continuing preliminary discussions with third parties regarding opportunities to secure external funding to complete the definitive feasibility study and potentially contribute a proportion of development expenditure to the project.

Key Contracts and Suppliers
Arccon Mining Services (DFS) and GHD (environmental-impact study).

On Budget and on Time?
Too early to state.

Contact Details for Project Information
TNG, tel +61 8 9327 0900, fax +61 8 9327 0901 email corporate@tngltd.com.au.
Arccon Mining Services, tel +61 8 9340 6100, fax +61 8 9340 6150 or email mining@arccon.com.au.