Tivan has been awarded a cash grant of A$7.4m ($4.7m) from the Australian Government's International Partnerships in Critical Minerals Programme for its Speewah Fluorite Project.
Situated in the Kimberley region of Western Australia, the project aims to establish a new mining and processing operation to produce acid-grade fluorspar, a critical mineral for semiconductor and electric vehicle battery manufacturing.
The grant is part of a government initiative to support critical minerals projects that enhance supply chain partnerships internationally.
Tivan's Speewah Project aligns with the criteria by targeting production of a mineral listed on Australia's Critical Minerals List and being at a development stage between post-exploration and pre-final investment decision (FID).
The project is expected to enhance Australia's critical minerals capabilities, contribute to supply chain diversity and resilience in Asia, and bring economic and social benefits to the East Kimberley region, including new jobs and business opportunities.
Minister of Resources and Northern Australia Madeleine King said: “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.
“Our ongoing national security and capabilities depend upon growing a strong and internationally competitive critical minerals and rare earth industry.”
In July this year, Tivan submitted a detailed application for the Speewah Fluorite Project, which included plans for feasibility studies that met the programme's requirements.
The project has gained importance since fluorine was added to Australia's Critical Minerals List in December 2023.
Currently, Australia lacks domestic production of fluorspar, making the Speewah Project pivotal for establishing local production.
Tivan's strategic partnership with Sumitomo Corporation, marked by a Strategic Alliance Agreement in June, has fortified the project's prospects.
Sumitomo's letter of support was instrumental in securing the grant.
The grant, which Tivan will match, will fund various activities essential to advancing the project towards an FID.
These activities include comprehensive feasibility studies and necessary exploratory and environmental work.
The grant significantly reduces the financial burden on Tivan for the Speewah Project and supports the proposed joint venture with Sumitomo Corporation, marking a substantial step towards the project's realisation.
Tivan is targeting an FID by the first quarter of 2026 and expects production to commence in 2027.
