Why the TNG (ASX:TNG) share price is up 7% today

The TNG Ltd (ASX: TNG) share price is climbing today after the company announced its Mount Peake project was awarded Major Project Status.

TNG is an Australian resource and mineral processing technology company. Minister for Industry, Science and Technology, the Honourable Karen Andrews MP, awarded the project its status due to its proposed significance in growing and diversifying Australia’s critical minerals industry.

At the time of writing, TNG’s share price is 9.7 cents.

A closer look at the Mount Peake project

The Mount Peake project, solely owned by  TNG, is set to be a world-scale strategic metals asset. It will produce titanium dioxide, vanadium pentoxide and iron oxide through TNG’s patented, energy-efficient and…