TNG has been granted the native title agreement for its Mount Peake vanadium-titanium-iron project in the Northern Territory after a year of extensive negotiations.
The agreement was entered into by TNG, subsidiary Enigma Mining, the Central Land Council (CLC) and Eynewantheyne Aboriginal Corporation RNTBC, which was representative of the native title holders of the land at Mount Peake.
The signing of the agreement allows TNG to proceed with the Mount Peake mineral lease approval and related mineral leases, paving the way for the project to develop further.
TNG managing director Paul Burton said, “The signing of this landmark agreement will lead to security of tenure, which will facilitate approval for the development of our proposed mining operations at Mount Peake, a vital step forward which will greatly assist our ongoing financing and off-take discussions.
“We are looking forward to working with [the Eynewantheyne Aboriginal Corporation RNTBC and the CLC] to ensure that the full benefits of this world-class project – and the major investment that it will bring to the Northern Australian development region – are realised by the Native Title Holders and the local communities of the region.”
The agreement ensures employment, training and other benefits of the Mount Peake project will be channelled to the native title holders and the local community.