Australian firm TNG has completed a pre-feasibility study (PFS) on its Mount Peake iron-vanadium-titanium project in Northern Territory, Australia.

According to the PFS, the project will have an average annual production of 14,200t of Vanadium, 379,000t of titanium and 1.2Mt of iron.

The project will have an initial mine life of 17.2 years, with a pre-tax annual cash flow of $151.3m and a total estimated pre-production capital cost of A$476m (US$464m).

TNG is planning to start the definitive feasibility study in the first quarter of 2012, upon completion of the final metallurgical optimisation test work at the project.

The metallurgical test work will lead to the pilot plant phase and commercialisation of the new TIVAN hydrometallurgical process.