Tivan acquires NT critical minerals project

Tivan (ASX: TVN) has fully acquired the Molyill project, a tungsten and molybdenum deposit North-East of Alice Springs.

Thor Energy (ASX: THR) and joint Molyhill owner Investigator Resources (ASX: IVR) will receive $8.75m over three years from Tivan for 100% ownership over the project.

Molyhill is situated next to Tivan’s Sandover fluorite project, also purchased from Thor Energy in November 2024. Molyhill boasts a JORC Code mineral resource estimate of 4.6mt with 12,100t (.26%) of tungsten trioxide, 4400t (.09%) of molybdenum, as well as 2050t (.04%) of copper.

The project was exploited in a small-scale open-pit mining operation in the 1970s and early 80s and was slated to be redeveloped for the same purpose in 2005 before economic downturn made that unfeasible.

Tivan executive chairman, Grant Wilson says the company is the natural owner of the Molyhill project.

“We have the capabilities, standing and determination required to lift the project out of its prolonged orphan phase and into production in rapid time,” he said.

Both tungsten and molybdenum feature on the Australian Critical Minerals list, and their prices have more than doubled since 2020.

The high demands for both commodities stem from their extensive use in defence, automotive, semiconductor and solar energy production, as well as strategic export restrictions from China.

China is responsible for more than 80% of global tungsten production and 40-45% of molybdenum production. As of February, the country has mandated export licenses for both metals and so far, granted none.

“The criticality of Molyhill is reflected in China’s recent export restrictions and the major shifts underway in favour of national stockpiling of select critical minerals,” Mr Wilson said.

“At current commodity prices the first couple of years of mining would be extraordinarily profitable, enabling Tivan to optimally finance the development of an iconic critical minerals precinct in central Australia.”

The project currently features a working water bore, as well as a decommissioned airstrip.

Plans to progress a pre-feasibility study are underway.