TNG has signed a strategic co-operation agreement with the McMahon Services – Clough joint venture to provide engineering, procurement and construction (EPC) services at the Mount Peake vanadium-titanium-iron project in the Northern Territory.
Under the agreement, the joint venture will fully review the project’s Definitive Feasibility Study (DFS) that was recently completed as well as assess the preliminary construction management and procurement contracting services needed for the project together with SMS Group – TNG’s engineering partner.
TNG said in a statement that this agreement is aimed at advancing the relationship between the joint venture and its engineering partner to a stage where TNG can make a final decision for the project’s construction plans; and support the company in getting a financial investment decision from investors.
According to TNG’s Managing Director Paul Burton, the agreement signed with the McMahon – Clough joint venture builds the foundation for an expansive EPC approach to the construction and financing of the project.
Mr Burton added: “We already have a strong and long-standing relationship with our German-based strategic engineering partner, SMS Group, and this agreement with Clough and McMahon is designed to build on and enhance that relationship. Having two of Australia’s leading contracting groups as part of our construction consortium is a real positive for the Mount Peake Project.”
In addition, Intract Australia – a 51% Indigenous-owned, managed and controlled enterprise launched by McMahon – will be working with McMahon to provide civil construction and general building works for the Mount Peake Project.
The Mount Peake vanadium-titanium-iron project is located approximately 253 kilometres north of Alice Springs. The mine, once developed, will be able to produce high-quality, high-purity strategic metal products – including vanadium pentoxide, titanium dioxide and pig iron – for markets all around the globe.
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