ASX-listed TNG will undertake a technology and process design study for the development of a vanadium electrolyte (VE) production facility.
Minerals processing engineering group METS Engineering, which co-developed TNG’s proprietary TIVAN downstream processing solution, has been engaged to start the study on behalf of TNG’s newly-established vanadium redox flow battery (VRFB) business.
TNG produced high specification commercial grade VE in 2016, and the VRFB business was established as a result and forms part of a vertical integration strategy to capitalise on TNG’s plans to produce its own vanadium product from the 100%-owned Mount Peake vanadium/titanium/iron project, in the Northern Territory, and on growing global demand for green energy solutions to drive decarbonisation.
The company is targeting production of 6 000 t/y of high-purity vanadium pentoxide from the Mount Peake project, in addition to titanium dioxide pigment and iron-ore fines products.
The VE study being undertaken by METS will deliver Australian preliminary process design documentation for the VE facility, which will include process flow diagrams, process design criteria, mass balance, product specifications, mechanical equipment lists, capital and operating cost estimates, and supporting infrastructure requirements.
The study is expected to take up to three months to complete and will support a decision to move into the design and planning phase, which will include the evaluation of potential sites for the facility, engineering works, validation of cost estimates, financial modelling, progression of necessary government permitting and approvals and development of the project execution model, TNG said on Tuesday.
Furthermore, the company is also developing the funding strategy for its VE facility, which includes evaluation of available green energy government funding and grant opportunities.
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