Tivan awarded $7.4m for Speewah 

Tivan (ASX: TVN) has been awarded a $7.4m cash grant for the Speewah fluorite project, located in the Kimberley region of WA, under the Federal Government’s International Partnerships in Critical Minerals (“IPCM”) program. 

The IPCM program supports early to mid-stage critical minerals projects that contribute to building end-to-end supply chains with Australia’s international partners in the critical minerals sector.  

Eligibility criteria include applicants having plans to produce critical minerals listed in Australia’s Critical Minerals List, projects which are in the early to mid-stages of development including those activities undertaken post-exploration and before final investment decision and formal support from an international project partner. 

Federal Resources Minister Madeleine King says these new grants will help Australian critical minerals and rare earth projects reach the next stage of development and secure good, highly paid and highly skilled jobs in both mining, research and downstream processing. 

“Critical minerals and rare earths elements are essential components of clean energy technology such as storage batteries, solar panels and wind turbines, as well as high-technology defence and medical applications,” she said. 

“Our ongoing national security and capabilities depend upon growing a strong and internationally competitive critical minerals and rare earth industry.  

“Australia is determined to diversify global supply chains for these crucial materials and to create jobs in Australia in projects that support our path to net zero and the energy and security needs of our trading partners” 

Tivan submitted a comprehensive application under the IPCM program in July 2024. Tivan structured its application by defining the feasibility study and definitive feasibility study for the Speewah fluorite project as a composite project that would satisfy the eligibility criteria of the program. 

Tivan is advancing planning for a mining and processing operation at Speewah to produce acid grade fluorspar. The Federal Government added fluorine to Australia’s Critical Minerals List in December 2023.  

Acid-grade fluorspar is the fluorine source used for semiconductor manufacturing and electric vehicle batteries, critical industries that further the digital economy and the energy transition. There is currently no domestic fluorspar or fluorite production in Australia. 

In June, Tivan announced it had signed a strategic alliance agreement with Sumitomo, a leading Japanese trading house and Fortune Global 500 company, providing a framework for negotiation of a binding joint venture agreement for the development, financing and operation of the Speewah fluorite project. 

Sumitomo subsequently provided a letter of support for Tivan’s application to the IPCM program. 

The Tivan Board comments on the grant. 

“The Board extends its thanks to Minister King for the successful award of the International Partnerships in Critical Minerals grant and for her active support of Tivan in recent travels to Japan,” the Board said. 

“Tivan is strongly supportive of the Federal government’s Critical Minerals Strategy 2023-30 and the Critical Minerals Production Tax Incentive.  

“These forward-facing policies are furthering Tivan’s mission of building a company of strategic importance across northern Australia. 

“We also extend thanks to Sumitomo Corporation, our strategic alliance partner, for their role in supporting Tivan’s application.  

“We look forward to the successful conclusion of our joint venture negotiations and to a long-term partnership that furthers the important bilateral relationship between Australia and Japan.” 

Funding under the grant will be matched by Tivan, directly or via joint venture, and used to complete feasibility and definitive feasibility studies, and supporting workstreams, for the Speewah fluorite project.