Tivan Limited (ASX: TVN), an emerging leader in critical minerals, has entered a binding incorporated joint venture with Sumitomo Corporation for the development of the Speewah Fluorite Project. The Project, located in the East Kimberley of Western Australia, is subject to the completion of an extensive programme of work including a definitive feasibility study, set to become Australia’s first fluorite mining and processing operation, targeting acid-grade fluorspar for export to global markets.
The breakthrough agreement with Sumitomo’s newly established subsidiary, Japan Fluorite Corporation (JFC), will, on the achievement of various project milestones, see JFC invest up to $60.3 million for a 22.5% interest in the incorporated joint venture. Tivan will serve as project manager for a minimum of five years. The Project includes a robust offtake structure, government funding and strong financials.
In December 2024, the Australian Government awarded the Project ‘Major Project Status’, recognising its national significance and alignment with the Critical Minerals Strategy and National Battery Strategy.
The transaction was led by Projects and Construction partner Michael Blakiston with support from lawyer Shay Kiriakidis. Additional support was provided by:
Corporate Advisory group
Karen Evans-Cullen – partner
Sarah Turner – partner
Callum Fleming – lawyer
Joshua Giesser - lawyer
Native Title group
Marshall McKenna – partner
Jim Power - lawyer
Michael commented:
This transaction is a standout example of international collaboration in Australia’s critical minerals sector. The binding agreements and structured equity tranches reflect a thoughtful approach to project development that aligns strategic interests across borders. It marks an exciting step forward for both the Speewah Project and for strengthening Australia-Japan critical mineral ties.
