TNG Announces Agreement with Korean Metals Group

TNG Ltd. (ASX:TNG) announced that it has signed an agreement with Korea-based ferrovanadium producer Woojin Industrial Co. Ltd. (WJN) for the sale of up to 60 percent of the vanadium from its flagship Mount Peake vanadium-titanium-iron project.

As quoted in the press release:

This development follows the execution of a Letter of Intent (LOI) between WJN and TNG in June 2014. Since then, the two companies have been working in close collaboration to pursue binding agreements and establish a basis for long-term understanding and cooperation.

TNG’s managing director, Mr Paul Burton, stated:

Having WOOJIN involved right from the beginning of the Mount Peake development is a significant advantage for us. They are one of the world’s leaders in ferro-vanadium production, with a strong R&D capability and a considerable depth of marketing expertise in the vanadium industry.

Click here for the full TNG Ltd. (ASX:TNG) press release