TNG announces it has received the federal environmental approval needed to proceed with the Mounte Peak project. The company expects to unearth sizeable vanadium titanium and iron deposits.
Australian strategic metals company TNG Limited (ASX:TNG) announces the Federal Minister for Environment and Energy, the Hon Josh Frydenberg, has granted environmental approval, subject to implementation conditions, to the mine site component of its flagship 100 percent-owned Mount Peake vanadium titanium iron project, located 230km north-west of Alice Springs in the Northern Territory.
As quoted in the press release:
The key approval has been granted in accordance with and for the purpose of certain provisions of the Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act) and marks the completion of the Environmental Impact Assessment (EIA) process for the mine site component of the Mount Peake Project.
The approval follows the Northern Territory Environmental Protection Authority (NTEPA) providing an approved assessment report in January this year. The receipt of federal environmental approval represents the final major permitting hurdle to allow financing and construction of the Mount Peake Project to proceed, and signals that it is ready to progress to the next stage of mining approval under the Mining Management Act.
In order to complete this process, TNG has commenced work to finalize its Mine Management Plan (MMP), incorporating the recommendations made by the NTEPA, as outlined in their assessment report.
“This Federal environmental approval is a huge milestone for all our key stakeholders, but particularly for our development and permitting team and our shareholders, who have waited patiently for this news. We are absolutely delighted that the long-running Environmental Impact Assessment process for the Mount Peake mine and infrastructure component is now completed,” said TNG’s managing director, Paul Burton.