Australian metals company TNG (ASX:TNG) has secured a patent from the European Patent Office for its TIVAN® hydrometallurgical process.
The process allows for the extraction and recovery of high-purity vanadium, titanium and iron from their ores in commercial grades and quantities.
The processwas developed by TNG and its metallurgical consultants, Perth-based METS. The company will now be considering licensing the process globally and says it could be “highly lucrative”.
The company has now secured patents for the process in Europe, Australia, Canada, the Russian Federation, the United States and Vietnam; with more pending in China and South Africa.
Shares in TNG (ASX:TNG) last traded at 8 cents.