Tivan gets potential govt funding support for Speewah project
ASX-listed Tivan has secured early-stage support from two Australian government financing bodies as it seeks to develop the country’s first fluorite mining and processing operation in Western Australia.
The company said on Monday it had received a nonbinding and conditional letter of support from Export Finance Australia (EFA) and progressed into the due diligence phase with the Northern Australia Infrastructure Facility (NAIF).
“We are very pleased to have made timely progress with EFA and NAIF,” said Tivan executive chairperson Grant Wilson.
“From Tivan’s perspective, this reflects the strong alignment of the Speewah fluorite project with Australia’s Critical Mineral Strategy, our partnership with Sumitomo and Japan Organisation for Metals and Energy Security (Jogmec), and our northern location. We look forward to collaborating closely in maturing the debt finance pathway, in support of building a new, critical export sector for Australia and making a durable economic contribution to the East Kimberley region.”
The Speewah project is being advanced through an incorporated joint venture between Tivan, Sumitomo, and Jogmec. Japan Fluorite, a special purpose vehicle formed by the Japanese partners, has made an initial A$5.3-million investment to fund a feasibility study.
The project has been granted major project status by the Australian government and aims to produce acid-grade fluorspar, used in semiconductors, electric vehicle batteries, and other strategic sectors. Fluorine was added to Australia's critical minerals list in December 2023.
Tivan’s broader financing strategy includes conditional equity investments of up to A$60.3-million from its Japanese partners and a separate non-binding term sheet for a minimum A$51.3-million from an Australian family office investor.
Provision of EFA or NAIF funding remains subject to customary due diligence and internal approvals. Neither agency has committed to providing financing at this stage.
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