TNG and SMS testwork slashes Mt Peake costs by A$50m/y

Australian strategic metals company TNG has, in conjunction with its strategic partner engineering group SMS, identified potentially transformational capital and operating cost savings for its flagship 100%-owned Mount Peake vanadium/titanium/iron project in the Northern Territory. Testwork performed by SMS during the year demonstrated a substantial reduction in utility and energy consumption, estimated to be about A$57/t of concentrate processed, compared to definitive feasibility study (DFS) figures. On the basis of the DFS assumptions, this should result in an overall operating cost saving of more than A$50-million a year for the first phase of the project, at a three-million-ton-a-year mining rate.