Technology Metals Australia (ASX:TMT) has engaged GR Engineering Services (ASX:GNG) and mine site construction services company Iron Mine Contracting to progress the Murchison Technology Metals Project (MTMP) in Western Australia.
The ASX-listed exploration and development company says these key engagements follow the conclusion of a commercial tendering process across a range of MTMP work packages.
The company says GR Engineering and Iron Mine Contracting will work alongside the key equipment supplier for the MTMP processing plant FLSmidth (CPH:FLS).
FLSmidth has been partnering with Technology Metals since early 2018, and since then it has completed salt roast leach testwork to the more recent Front-End Engineering and Design (FEED) for the pyro processing technology, as well as major equipment selection reviews for the concentrator and leach circuit.
Technology Metals reports EKF Denmark’s Export Credit Agency has provided the company with a letter of interest (LOI) of financing support of around $150 million based on the expected Danish content from the involvement of FLSmidth as a key equipment supplier to the MTMP.
Commenting on the engagement of key project partners for the MTMP, Technology Metals Australia Managing Director Ian Prentice says: “We are very pleased to have progressed to this next stage of the MTMP implementation phase following a successful commercial competitive tendering process, which attracted strong engagement across the range of work packages.
“We are very pleased to have progressed to this next stage of the MTMP implementation phase following a successful commercial competitive tendering process”
Partnering with high-quality industry players in GRES (GR Engineering), IMC (Iron Mine Contracting), and FLSmidth is a strong endorsement of the quality of our owner’s team, the technical strength of the MTMP and the advances we are making in delivering the development of the MTMP.
We are maintaining our very clear focus on the timely development of the MTMP and the supply of high-purity vanadium pentoxide to play an important role in the global transition towards net zero, whilst ensuring everything we do is guided by TMT’s (Technology Metals Australia) core values and our holistic ESG action plan.”
Technology Metals reports the MTMP project team will progress a detailed construction planning, schedule definition, and site establishment work streams with GR Engineering, FLSmidth, and Iron Mine Contracting.
GR Engineering will focus on detailed construction planning for the MTMP process plant and schedule definition in consultation with FLSmidth.
Meanwhile Iron Mine Contracting will progress the development of site establishment and supporting infrastructure workstreams, and the schedule interfaces with bulk earthworks, source of construction materials and the process plant construction activities.
The MTMP is located 50km south of Meekatharra in Western Australia and consists of the Gabanintha and Yarrabudda deposits located on granted mining leases.
Technology Metals says the MTMP is being developed to be a stable, secure, and long-term supplier of critical minerals targeting average vanadium (V2O5) production of about 12,500 tonnes per annum (tpa) of V2O5 over an initial 25 year mine life, as well as production of a ‘highly’ sought after titanium by-product whilst mining and processing ore from Yarrabudda.
A recent Mineral Resource Estimate (MRE) upgrade delivered a global MRE for the MTMP of 153.7 million tonnes @ 0.8% V2O5, including a measured and indicated MRE of 63.2 million tonnes @ 0.9% V2O5 which is expected to support an increase on the current 25 year mine life.
Technology Metals Australia is focused on the exploration and development of its flagship Murchison Technology Metals Project in Western Australia. The company says the MTMP is one of the ‘highest-grade’ vanadium projects in the world and will have ‘lowest’ quartile operating costs once developed.
The company reports it has finalised an Integration Study for the MTMP which will bring the ‘high-grade’ ore from the satellite Yarrabudda deposit into the central processing hub at Gabanintha. This study completion has facilitated the progression of the implementation phase of the project.
Images: iStock
