- TNG (TNG) appoints construction engineering company Clough as its Lead Engineer and preferred EPC contractor for the delivery of its Mount Peake Project in the NT
- The company’s aim at the project is to develop a fully-integrated mining and processing operation to produce vanadium pentoxide, titanium dioxide and iron oxide for export
- Under the agreement, Clough will submit a fixed-price, lump-sum EPC proposal for the delivery of the project
- TNG is continuing to progress with other work streams such as groundwater modelling to support a second water extraction licence application
- Shares in TNG are down 9.09 per cent and are trading at five cents at 11:59 am AEST
TNG (TNG) has appointed construction engineering company Clough as its Lead Engineer and preferred EPC contractor for the delivery of its Mount Peake Project in the NT.
The Mount Peake Project is one of the largest undeveloped vanadium-titanium-iron projects in the world and has been awarded major project status by the Australian Federal and Northern Territory governments.
TNG’s aim at the project is to develop a fully-integrated mining and processing operation to produce vanadium pentoxide, titanium dioxide and iron oxide for export.
This will be done through TNG’s TIVAN Process which is owned exclusively by TNG.
“We are excited to be appointed as Lead Engineer and preferred EPC contractor for TNG to continue the development of their Mount Peake Project,” Clough CEO and Managing Director Peter Bennett said.
Under the agreement, Clough will submit a fixed-price, lump-sum EPC proposal for the delivery of the project, subject to the completion of any work required and the procurement contracting model.
TNG originally contracted SMS group to deliver the EPC proposal, but due to COVID-related disruptions, an agreement was reached with SMS to engage with Australian-based companies for the delivery of the Mount Peake Project.
“We are delighted to have moved forward with appointing Clough as TNG’s Lead Engineer and preferred EPC contractor for the delivery of the Mount Peake Project,” TNG CEO and Managing Director Paul Burton said.
“Clough has a strong track record in delivering large projects like Mount Peake, and we are looking forward to working closely with them as they develop their EPC Proposal.”
TNG is continuing to progress with other work streams such as groundwater modelling to support a second water extraction licence application.
The company is also advancing non-process infrastructure items which include build, own and operate, and build, own, operate, transfer items.
Shares in TNG were down 9.09 per cent on the market and were trading at five cents at 11:59 am AEST.