Strategic metals developer TNG has signed a binding term sheet with commodity trader Gunvor over a potential 40% of the planned vanadium pentoxide production at its Mt Peake vanadium-titanium-iron project, in the Northern Territory.
TNG is expected to produce around 6 000 t/y of vanadium pentoxide from its TIVAN processing facility, which will be located in Darwin, marking one of three downstream products to be produced by the fully integrated Mt Peake project.