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Strategic Agreement for Mount Peake Vanadium Project

Australian strategic metals company TNG Limited announced on Friday that it has signed a strategic cooperation agreement with the leading construction companies McMahon Services and Clough Projects to work together to provide key engineering, procurement and construction (EPC) services for its flagship 100%-owned Mount Peake Vanadium-Titanium-Iron Project in the Northern Territory.

The wide-ranging Agreement will see McMahon Services and Clough Projects join forces into a joint venture to fully review TNG’s recently completed updated Definitive Feasibility Study for Mount Peake and evaluate the preliminary construction management and procurement contracting services required for the Project together with the TNG’s strategic engineering partner, SMS Group.

The Agreement is aimed at advancing the relationship between the parties to a stage where TNG can make a final decision on its construction plans for the Project, as well as support TNG in obtaining a financial investment decision from its investors or financiers.

McMahon Services’ Directors David and Andrew McMahon said they were looking forward to working with TNG and its flagship project in the Northern Territory.

“Our team is excited by this opportunity, together with our partners Intract Australia (Indigenous Contracting Business). The project will offer considerable Indigenous employment, training and long-term career paths throughout the life of the project.”

Intract Australia’s joint Managing Directors John Briggs and Michael Rotumah said they were thrilled about this opportunity, as it supports their commitment to closing the gap on Indigenous employment.

“Our outstanding Indigenous employment track record demonstrates our commitment to Closing the Gap for Indigenous Australians. Since its inception in 2010, Intract has provided training and employment for over 200 Indigenous people across Australia, many from regional and remote Indigenous communities.”