Mining Weekly reported that a prefeasibility study by metals developer TNG has indicated that its Mount Peake project could deliver up to A$12 billion in revenue and an operating cash flow of roughly A$5 billion over the course of its 20-year mine life. Mount Peake is an iron/vanadium/titanium project.
As quoted in the market news:
The PFS predicted that the Mount Peake project could support a 2.5-million-ton-a-year operation, expanding to five-million tons a year after the first three years, to deliver yearly production of 15 300 t of vanadium oxide, 375 000 t of titanium dioxide concentrate, and 1.13-million tons of iron-oxide.
TNG MD, Paul Burton commented:
Over the past 12 months, we have continued to deliver and significantly derisk the project by upgrading the Joint Ore Reserves Committee-compliant resource inventory to more than 70% in the indicated category, moving the scoping study accuracy of 50% to a prefeasibility study of 25% accuracy, and securing two high-quality Chinese partners to support the development of this project.