Resources company TNG (ASX:TNG) has reached a life-of-mine Offtake and Marketing Agreement with Singapore-based major commodity trader Gunvor.
Under the agreement, Gunvor will buy the remaining 40 per cent of vanadium pentoxide from TNG’s Mount Peake Project in the Northern Territory.
Experts believe the deal will boost TNG vanadium pentoxide’s outreach on a global scale, utilising Gunvor’s distribution network and marketing capacity.
This milestone means TNG has secured buyers for all three of the miner’s high-purity products produced by the Mount Peake facilities.
TNG (ASX:TNG) shares are trading 9.09 per cent higher at 12 cents.