Critical minerals company Tivan has strengthened its foothold in Central Australia with the A$8.75-million acquisition of the Molyhil tungsten/molybdenum project, in a deal welcomed by the Northern Territory government as a boost to the Territory’s critical minerals credentials.

Located 220 km north-east of Alice Springs and adjacent to Tivan’s Sandover fluorite project, Molyhil hosts a mineral resource of 4.65-million tonnes at 0.26% tungsten trioxide and 0.09% molybdenum, containing 12 100 t of tungsten trioxide and 4 400 t of molybdenum.

To support the acquisition and accelerate precinct development, Tivan has raised A$15-million through a share placement, underpinned by an A$8.3-million cornerstone investment from ETFS Capital, the family office of Graham and Louise Tuckwell, both Officers of the Order of Australia.

Northern Territory Minister for Mining and Energy Gerard Maley said the deal underscored the Territory’s strong investment appeal.

“This acquisition highlights Tivan’s confidence in the Northern Territory and its world-class resource potential,” said Maley.

“Securing A$15-million to fund the development of a Central Australian critical minerals precinct is a strong demonstration of investor backing and the opportunities being created under the CLP government’s clear, consistent and pro-development approach.

“The co-location of the Molyhil and Sandover projects represents the first step in establishing a critical minerals precinct in Central Australia, with opportunities to leverage shared infrastructure and unlock lasting economic benefits for Territorians.”

Tivan executive chairperson Grant Wilson said the company would fast-track Molyhil’s development.

“Tivan is the natural owner of the Molyhil project, and we have the capability and determination to bring it into production quickly,” he said.

“The project’s importance is clear given China’s export restrictions and the growing demand for secure critical minerals supply chains. Molyhil will also serve as a staging ground for Tivan in Central Australia. As the site has been previously disturbed, our footprint will be materially reduced, helping to lower our impact and support environmental approvals.

“At current commodity prices, the early years of mining would be highly profitable, enabling Tivan to drive the development of an iconic critical minerals precinct in Central Australia.”

Tivan already operates the Sandover project and is a proponent of the Middle Arm Sustainable Development Precinct near Darwin. In July, the company signed a memorandum of understanding with Japan’s Sumitomo for the collaborative development, financing and operation of Sandover.

Tungsten and molybdenum are both on the Australian government’s critical minerals list, with uses in semiconductors, aerospace, defence and energy transition technologies. Global supply is concentrated in China, which has imposed export restrictions, further elevating the strategic significance of new Australian production.

“I congratulate Tivan on this significant acquisition and its continued commitment to unlocking the Territory’s enormous critical minerals potential. I look forward to visiting Tivan’s Sandover and Molyhil projects and seeing Central Australia play a leading role in strengthening Australia’s supply of the critical minerals that will drive our future industries," Maley added.