Australian strategic metals company TNG Limited (AsX: TNG) is pleased to advise that patents for its proprietary TIVAN’ hydrometallurgical process for the extraction and recovery of high-purity vanadium have now been approved in both United States of America and Russia after being granted in Australia.
The patents provide protection and security for the Company for one of its core pieces of Intellectual Property as it reaches the final stages of pre-development for its flagship Mount Peake Vanadium Titanium-Iron Project in the Northern Territory, and reflects the robustness of its leach process.
TNG’s Managing Director, Mr Paul Burton, said:
“We are very pleased to see acceptance of our process in the large jurisdictions of the USA and Russia, which complements our existing patent protection in Australia.
We expect to receive approvals for the other countries in due course, paving the way for future licensing of the TIVAN’ process globally – a business strategy which could generate significant returns for the company over and above those flowing from the development of the Mount Peake Project itself.”