TNG has provided an update on the progress of pre-development planning for its Mount Peake project in Northern Territory, taking into consideration the impact of COVID-19 pandemic on the timing of the project.
TNG is currently at an advanced stage of pre-development planning for the vanadium-titanium-iron Mount Peake mine, located approximately 230 km north of Alice Springs.
The Northern Territory government has put in place strict travel and gathering restrictions to contain the spread of coronavirus. This has resulted in the suspension of all field-based activity in, and travel to the state.
While TNG expects these restrictions to have an impact on pre-development and planning work at its Mount Peake project, the company said using a range of sophisticated software has enabled it to continue some key work streams.
TNG is continuing a Front-End Engineering and Design (FEED) study for the project in conjunction with the German-based metallurgical engineering firm, SMS group, with limited disruptions so far to key streams of the study.
However, TNG expects the timing of the FEED study to be impacted by the temporary shutdown of business units that support the FEED work streams. The company said a number of contractors working on the project are located in heavily affected locations and travel restrictions can impact their ability to work within planned timeframes.
TNG has also not yet received comments from the Northern Territory Environmental Protection Authority in relation to the Environmental Impact Statement (EIS) for its TIVAN processing facility in Darwin, which will be connected to Mount Peake Mine.
TNG will treat magnetite concentrate from the Mount Peake mine site using its patented TIVAN process, which will enable the extraction and production of three high-value strategic elements – titanium dioxide, vanadium pentoxide and iron oxide – for export from Darwin.
TNG said the delay in receiving the EIS may further impact the approval timeline for meeting additional requirements for the TIVAN facility, which may be impacted by the COVID-19 situation.