PERTH (miningweekly.com) – ASX-listed TNG has appointed financial advisory firm KPMG as its financial adviser for project financing to develop its Mt Peake vanadium/titanium/iron project, in the Northern Territory.
“This is a significant advance and we welcome the KPMG Corporate Finance mining team to provide advice to optimise a financing package for our world-class Mount Peake project,” said TNG MD and CEO Paul Burton.
“The KPMG teams expertise in global mining projects, very strong track record of major transaction achievements in Australia and globally, and existing relationships with anticipated lenders of KfW IPEX-Bank and the Northern Australian Infrastructure Fund (NAIF), adds credibility and is a positive mark to achieve the optimal financing outcome for the company and its shareholders.”
TNG previously mandated KfW as its exclusive senior debt adviser and arranger, and the company has made a formal application to the NAIF for participation in project funding.
Mt Peake is forecast to produce 243 000 t of high purity vanadium pentoxide, 3.5-million tonnes of titanium pigment and 10.6-million tonnes of iron oxide over a 17-year mine life.