This is a break away from their previous agreements with Como, McMahon, Clough, however SMS will need in country partners to help manage the construction/logistics/commissioning/operations etc
This is also good news in terms of follow on projects - the first plant will be TNGs & I'm sure SMS will be closely tracking everything they do as from mine site to end product they are managing all facets now of the project which will allow them to refine/optimize & sell turnkey TIVAN process plants to other companies. They'll be able to start this process of selling NOW.
Does it take away some of the control from TNG, probably, but in the long run it won't matter as this is the pilot plant which comes with guarantees, will be a very high profile project & will be recognized as such - ie potential future announcements :
Company xxx announce turn-key EPCM contract with TNG/SMS Siemag for a processing facility to meet the rapidly rising demand for Vanadium from Titano-Magnetite resources
Now I know why Tony Arena is there.
This will be one of, if not the most exciting engineering/construction projects going.
Concentrator/Mine/Beneficiation plant
Advanced patented first run of new separation process to produce from the single resource :
High purity Titanium Dioxide
High Purity Vanadium Pentoxide
High purity Pig Iron
TiO2 high durability coating products
V2O5 electrolyte for VRFBs
FeV in association with world leader Woojin
This announcement makes it much more realistic that it will happen
Well done PB & team
TNG Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held
