TNG Signs Binding Term Sheet for Potential Vanadium Offtake

Australian strategic metals company TNG has signed a binding term sheet with the global commodity trader, GUNVOR.

Australian strategic metals company TNG (ASX:TNG) has signed a binding term sheet with the global commodity trader, GUNVOR (Singapore), for potential offtake of 40 percent of the high-purity vanadium pentoxide that will be produced by the company’s flagship 100-percent-owned Mount Peake vanadium-titanium-iron project in the Northern Territory.

As quoted in the press release:

TNG’s Managing Director & CEO Paul Burton, said: “We are delighted to have strengthened our long-standing relationship with GUNVOR, a global commodity trader with similar values and growth strategies to TNG, by signing this Binding Term Sheet for vanadium pentoxide offtake. We have dealt with the team at GUNVOR over a number of years, including on the possibility of off-take for iron oxide products as disclosed in our release of September this year, and we are delighted to be working closely with them to develop this additional segment of our business.

“The signing of this Binding Term Sheet in the current challenging global market environment is another solid achievement by our team and is testament to the quality and robustness of the Mount Peake Project. We look forward to working closely with GUNVOR and executing the final binding Principal Marketing Agreement for the long term.”

Click here for the full text release

Rio Tinto reaches agreement with Turquoise Hill Resources on financing plan for Oyu Tolgoi

Rio Tinto has entered into a binding Heads of Agreement (HoA) with Turquoise Hill Resources (TRQ) for an updated funding plan (the “Funding Plan”) for the completion of the Oyu Tolgoi (OT) Underground Project in Mongolia. The Funding Plan addresses the estimated remaining known funding requirement of approximately $2.3 billion 1 , building on and replacing the arrangements established in the Memorandum of Understanding that Rio Tinto and TRQ previously entered into on 9 September, 2020.

Under the HoA, subject to securing approval by OT LLC and any required support from the Government of Mongolia, and subject to timing, availability, and terms and conditions being acceptable to both parties, Rio Tinto and TRQ will:

Keep reading... Show less

Rio Tinto Exploration and Calibre Mining Initiate 2021 Exploration Program Including 5,500 Metre Drilling Campaign Prioritizing Prospective Near-Surface Copper and Copper-Gold Mineralization

Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the “Company” or “Calibre”) is pleased to provide an update on the Borosi exploration project held under an earn-in option agreement between Rio Tinto Exploration (LSE:RIO) (“RTX”) (“Rio Tinto”) and Calibre. Calibre controls a 100% interest in the Borosi concessions located in the prolific Mining Triangle region of northeastern Nicaragua. RTX has the right to earn a 75% interest by spending US$45 million over eleven years in the project ( see Calibre news release dated February 24, 2020 ). The Borosi exploration program is being directed by RTX through a partnership agreement with Calibre as project operator.

Highlights

Keep reading... Show less

FDA Approves Trodelvy®, the First Treatment for Metastatic Triple-Negative Breast Cancer Shown to Improve Progression-Free Survival and Overall Survival

Trodelvy Significantly Reduced the Risk of Death by 49% Compared with Single-Agent Chemotherapy in the Phase 3 ASCENT Study –

– Trodelvy is Under Regulatory Review in the EU and in the United Kingdom, Canada, Switzerland and Australia as Part of Project Orbis

Keep reading... Show less

Rio Tinto details $47 billion 2020 economic contribution, including $8.4 billion of taxes and royalties

Rio Tinto today released its 2020 Taxes paid: Our economic contribution report , which shows the company made a total direct economic contribution of $47 billion in the countries and communities where it operates, including $8.4 billion of taxes and royalties.

Despite the widespread challenges of COVID-19 in 2020, the contribution was up from the previous year, when Rio Tinto made a total direct economic contribution of $45.1 billion in the countries and communities where it operates, including $7.6 billion of taxes and royalties.

Keep reading... Show less

Top News

Related News