Name of the Project
Speewah fluorite project.

Location
About 100 km south of the Port of Wyndham, and 110 km south-west of Kununurra, in the Kimberley region of north-east Western Australia.

Project Owner/s
Critical minerals company Tivan and Japanese trading house Sumitomo Corporation.

Project Description
The Speewah project hosts two world-class critical mineral deposits:

• Speewah fluorite – Australia’s only Joint Ore Reserves Committee-compliant fluorspar resource, with world-class scale, grade and mineralogy, which supports high recovery rates.
• Speewah vanadium – the largest reported vanadium in titanomagnetite resource, in Australia, and one of the largest globally.

Using on-site processing, the Speewah fluorite project will produce a 97% acid-grade fluorspar product.

The project is expected to produce 1.48-million tonnes of fluorspar over its 10.6-year mine life. Life-of-mine average production is estimated at 130 700 t/y.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Assuming an 8% discount rate, the project has a pretax net present value of A$480.1-million and an internal rate of return of 37.9%, with a payback of 2.6 years from the start of operations.

Capital Expenditure
Preproduction capital is estimated at A$263-million.

Planned Start/End Date
First production is scheduled for 2027.

Latest Developments
On June 18, Tivan announced the Australian government’s approval of Sumitomo’s entry into the Speewah fluorite project joint venture (JV), with the Foreign Investment Review Board (FIRB) confirming that the Treasurer had no objections to the Japanese company’s initial equity investment.

The FIRB approval clears the way for Japan Fluorite Corporation (JFC), a special-purpose subsidiary established by Sumitomo, to proceed with its initial A$5.3-million investment in the project. This will give JFC a 7.5% equity stake in the incorporated joint venture (IJV), which was formalised between Tivan, Sumitomo and JFC in May this year.

The first tranche of funding will be used to progress a feasibility study for the Speewah project, aimed at producing acid-grade fluorspar for export to international markets.

JFC has the option to invest up to A$60.3-million across three tranches to secure a 22.5% interest in the IJV.

With the FIRB condition now satisfied, Tivan has formally applied to the Australian government to transfer a critical minerals grant awarded under the International Partnerships in Critical Minerals Programme to the JV. The company is also finalising the restructuring of the project, including transferring the project tenements to the new IJV entity.

The formal establishment of the venture, including completion of the first tranche investment, is expected in the first half of July.

Meanwhile, Tivan is progressing development planning for a revised access road, with a focus on cultural sensitivity and environmental stewardship.

Currently, access to the site is by 47 km of single-lane historical tracks from the Doon Doon roadhouse on the Great Northern Highway. Tivan, through its subsidiary Speewah Mining, holds three miscellaneous licences over much of this corridor and has reached an access agreement with Glen Hill Pastoral Aboriginal Corporation for sections not already covered.

As part of the prefeasibility study released in July 2024, engineering group Lycopodium assessed route options to improve site access in a way that balances economic viability and cultural considerations. Following consultations facilitated by the Kimberley Land Council (KLC), Traditional Owners and Native Title Holders prefer that the revised access road avoid Liyama Spring and Liyama Gorge – culturally significant areas through which the existing track passes.

The revised alignment, now significantly progressed, is more direct, spanning about 37 km, and turns off from the Great Northern highway 5 km south of the current route. The new road bypasses the Doon Doon community and sensitive cultural sites.

Planning activities completed to date include desktop and field geotechnical mapping, the lodgement of three new miscellaneous licence applications (L80/122, L80/123, L80/124) and resolution of all Native Title Act objections. 

The company has executed Deeds of Variation to Heritage Protection Agreements with the KLC on behalf of the Yurriyangem Taam Native Title Holders and the Nganjuwarr Native Title Claim Group to extend coverage to the revised alignment.

Further, Tivan has signed resourcing protocol agreements (RPAs) with the KLC and respective Native Title parties, establishing frameworks for negotiating indigenous land use agreements. The RPAs provide for structured negotiations and funding over the next six months, culminating in an authorisation meeting in December 2025. 

Tivan is also planning rehabilitation of the existing tracks through Liyama Spring and Liyama Gorge. Engagement with land rehabilitation and environmental specialists is under way to develop a site-specific, culturally informed plan, which will be tendered to local contractors. While the tracks predate Tivan’s involvement, the company has said it will undertake rehabilitation once the project becomes operational.

The company has also received approval from the Western Australian Department of Energy, Mines, Industry Regulation and Safety for a supplementary programme of work, consequently enabling it to proceed with its ongoing 35 000 m, 335-hole drilling campaign at the Speewah site.

Key Contracts, Suppliers and Consultants
Hatch (prefeasibility study review).

Contact Details for Project Information
Tivan, tel +61 8 9327 0900 or email engagement@tivan.com.au.