TNG Limited moves closer to future mining agreement at Mount Peake

TNG Limited (ASX: TNG) has wrapped up an initial meeting with the Central Land Council (CLC) and native title holders to discuss TNG’s development plans for its 100%-owned Mount Peake Vanadium-Iron-Titanium Project in the Northern Territory.

The meetings are aiming to negotiate a future mining agreement following the submission of the Mineral Lease Application (MLA) by TNG over the resource at Mount Peake and are progressing positively.

TNG already has an exploration agreement in place with the CLC as the representative of native title holders in the area.

TNG’s Mount Peake exploration licences and mineral resource are within the geographic region of responsibility for the CLC which covers 771,747 square kilometres of remote, rugged and often inaccessible areas with 15 different Aboriginal language groups.

Following the initial meeting with the CLC, TNG has established a team comprising TNG Directors and senior staff.
Members include legal representative Kevin Stephens (Ward Keller, Darwin) and industry recognised Land Access consultant Eddie Fry will represent TNG on a proposed Development Review Committee (DRC) to assist in the progress of the proposed mining agreement.

The DRC will be one of a number of forums for Aboriginal engagement as the Mount Peake Project progresses towards development.

TNG considers negotiations to be integral both for the development of the project and in delivering benefits to the local community.

As a representative Aboriginal body, the CLC has a council comprising some 90 Aboriginal people elected from communities in the southern half of the Northern Territory.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/19458/tng-limited-moves-closer-to-future-mining-agreement-at-mount-peake--19458.html