TNG Ltd. said June 12 that it signed a deal to evaluate the use of its TIVAN vanadium extraction process at Todd Corp. Ltd.'s Balla Balla vanadium-titanium-iron project in Western Australia.
The heads of agreement with Todd unit BBI Group Pty. Ltd. will also encompass options for commercial cooperation for the development of TNG's Mount Peake project in Australia's Northern Territory.
An updated feasibility study for Mount Peake in November 2017 pegged a pretax net present value, discounted at 8%, of A$4.7 billion, a 44% internal rate of return and a three-year payback.
