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Mount Peake vanadium project given the green light

TNG Ltd materialised from a trading halt today with news it had locked-in Australian Federal Government environmental approvals for its flagship Mount Peake Vanadium-Titanium-Iron project in the Northern Territory.

The company received the official environmental green light from the federal environment and energy minister Josh Frydenberg on Friday which follows earlier approvals from the Northern Territory Environmental Protection Authority that were granted in January this year.

According to TNG, the federal green light was the final major permitting hurdle to jump and opens the door to begin arranging finance and development, as well as submitting an application for a mining lease with the Northern Territory authorities.

Prior to submitting the mining application, TNG needs to complete its mine management plan which will include the Northern Territory’s Environmental Protection Authority recommendations.

“This federal environmental approval is a huge milestone for all our key stakeholders, but particularly for our development and permitting team and our shareholders, who have waited patiently for this news,” TNG managing director Paul Burton said.

“We will now proceed to seek to finalise the mining agreement with the Central Land Council as soon as possible and secure our mining lease, which, in turn, clears the way for site-based construction activities to commence,” Mr Burton said. Read more…

 

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