Perth-based metals explorer TNG says an initial meeting with the Central Land Council to discuss its plans for the Mt Peake vanadium-iron ore-titanium project in the northern territory was a positive start to negotiating a future mining agreement.
The meeting follows TNG’s submission of a mineral lease application over the resource at Mt Peake.
TNG already has an exploration agreement in place with the CLC.
“TNG welcomes the positive nature of the initial meeting with the CLC and looks forward to future engagement, which TNG considers to be integral both for the develop of the project and in delivering benefits to the local community,” the company said in a statement.
TNG is seeking to develop the Mount Peake project with joint venture partner Jiangsu China Non Ferrous Metals Investment Holding Company (ECE), which is part of the East China Mineral Exploration and Development Bureau.
ECE holds a 30 per cent stake in TNG.
Global engineering firm Sinclair Knight Mertz is currently completing a pre-feasibility study for the project.
At 10:40AM(WST) TNG’s stock had lost 1 per cent, trading at 8.9 cents.
