Tivan has received a second $2 million payment under the Federal Government’s International Partnerships in Critical Minerals (IPCM) grant program to support the Speewah fluorite project in Western Australia.
The $7.4 million grant, awarded to Tivan in December 2024, is designed to assist with the completion of feasibility and definitive feasibility studies for the project.
A total of $3.25 million in funding has now been received, with the remaining $4.15 million scheduled for release in 2026.
The funding milestone follows the execution of a deed of novation with the Federal Government to transfer the grant agreement from Tivan to Fluorite SPV, the incorporated joint venture between Tivan, Sumitomo Corporation, and the Japan Organisation for Metals and Energy Security (JOGMEC).
“The IPCM grant program played a constructive role in facilitating Tivan’s joint venture with Sumitomo Corporation and JOGMEC,” Tivan executive chairman Grant Wilson said. “We are pleased that the joint venture has received the second instalment payment, reflecting our progress in rapidly advancing the Speewah fluorite project through the first half of this year.”
Sumitomo Corporation and JOGMEC’s special purpose vehicle, Japan Fluorite Corporation, have also made an $5.3 million equity investment in Fluorite SPV for an initial 7.5 per cent interest. These funds are being used alongside the grant to advance the feasibility work currently underway.
Located in the Kimberley region of WA, the Speewah fluorite project is considered one of Australia’s largest and highest-grade fluorite resources.
The project aims to become a critical supplier of fluorine-bearing minerals, which are increasingly in demand for strategic technologies, including semiconductors, electric vehicle batteries, and defence systems.
The final investment decision on the project will be informed by the outcomes of the feasibility work now funded and progressing.
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