Speewah: Australia’s first fluorite project progresses

Tivan (ASX: TVN) has formed an incorporated joint venture (IJV) with leading Japanese trading house Sumitomo Corporation.

The IJV is working to develop, finance and operate the Speewah fluorite project in the Kimberley region of WA. This coincides with rising interest in the mineral after fluorine was added to Australia’s critical minerals list in late 2023.

Tivan executive chairman Grant Wilson comments on the partnership.

“We are delighted to commence a long-term partnership with one of Japan’s most respected companies and to have established a relationship based upon trust and shared values,” he said.

“Through much hard work we have taken a company from a zero-start to the top of the world in two years.

“Tivan is now uniquely placed to deliver a transformative project that is strongly aligned to national strategic priorities and community expectations, one which will deliver durable economic and social opportunities for the Traditional Owners of the East Kimberley.”

Under the agreement, Tivan will be the manager for the IJV for a minimum of five years, responsible for the development planning, construction and operational phases of the project.

The agreement will see Sumitomo Corporation’s recently incorporated subsidiary, Japan Fluorite Corporation (JFC), invest up to $60.3m for an equity interest of 22.5% in the IJV.

Tivan is undertaking a feasibility study for the project which will be supported by an initial $5.3m investment by JFC and funding from the International Partnerships in Critical Minerals (IPCM) program.