Latest news with #Tivan
Yahoo
21-07-2025
- Business
- Yahoo
Tivan, Sumitomo set up joint venture for WA fluorite project
Tivan has established an incorporated joint venture (IJV) with Sumitomo Corporation to develop the Speewah fluorite project in Western Australia, having met all conditions for the initial phase of investment (Tranche 1). Sumitomo Corporation and Japan Fluorite Corporation (JFC) – a subsidiary of Japanese Government entity the Japan Organization for Metals and Energy Security (JOGMEC) – have made an initial $5.3m (Y781.62m) equity investment in the IJV, securing a 7.5% equity interest in the project. The investment from JFC will finance a project feasibility study, which aims to establish mining and processing operations to produce high-quality acid-grade fluorspar for export. In May 2025, Tivan announced binding agreements with Sumitomo Corporation and JFC to form the IJV to develop, finance and operate the project. The conditions precedent for JFC's Tranche 1 investment included securing approval from the Australian Government Foreign Investment Review Board; Tivan's application to novate Australian Government grant funding; and the completion of the Project Restructure, which involved transferring project tenements to the IJV company, Fluorite SPV. Sumitomo Corporation has entered into binding agreements with JOGMEC, which will hold a 49% equity interest in JFC. Tivan executive chairman Grant Wilson said: 'We are greatly honoured to have secured the involvement of JOGMEC in our joint venture. We look forward to ongoing collaboration with their technical team in Tokyo. 'The pathway we have created to final investment decision is being funded by contributions from Tivan and Sumitomo Corporation, and the governments of Australia and Japan. This model of private-public risk sharing is optimal in its design for the Speewah Fluorite Project and reflects the enduring strength of the bilateral relationship between Australia and Japan.' In June, Tivan received approval from the Australian Government's Foreign Investment Review Board for its initial investment in the Speewah project through JFC. "Tivan, Sumitomo set up joint venture for WA fluorite project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
AU Financial Review
21-07-2025
- Business
- AU Financial Review
Little Aussie miner pushes back on Chinese control of critical minerals
It's far too slow and incremental but the international effort to challenge China's dominance in the supply and processing of key critical minerals is taking belated shape. Monday's ASX announcement of Japanese government interest in supporting Tivan, a small listed Australian would-be miner and processor of fluorite, is another minor signpost on that long road.
Yahoo
18-06-2025
- Business
- Yahoo
Sumitomo receives FIRB nod for investment in Tivan's Speewah Fluorite Project
Sumitomo has announced that its joint venture (JV) partner, Tivan, has received the Australian Government's Foreign Investment Review Board (FIRB) approval for its initial investment in the Speewah Fluorite Project through Sumitomo's subsidiary Japan Fluorite. The Speewah Fluorite Project in Western Australia's Kimberley region aims to establish a new mining and processing operation. In May 2025, Tivan disclosed binding agreements with Sumitomo and Japan Fluorite to form an incorporated JV for the Speewah Fluorite Project. Japan Fluorite may invest up to A$60.3m ($39.2m) in three tranches for a 22.5% equity interest in the JV. The initial investment of $5.3m (Y767.55m) from Japan Fluorite will secure a 7.5% equity interest and fund a feasibility study for the project. This study will focus on mining and processing operations to produce acid-grade fluorspar, which is essential for semiconductor and electric vehicle battery manufacturing. The investment was contingent upon several conditions including the FIRB approval, which has now been met. Tivan executive chairman Grant Wilson said: 'We are very pleased that FIRB Approval has been provided for our joint venture with Sumitomo Corporation. At a complex moment for the global critical minerals sector, this timely approval reflects the abiding strength of the bilateral relationship between Australia and Japan.' Additionally, Tivan is required to apply for the novation of a grant from the Australian Government's International Partnerships in Critical Minerals Programme and complete the project restructuring, which involves transferring project tenements to the JV company. With FIRB approval secured and the application for grant novation under way, Tivan is finalising the project restructuring. The formal establishment of the JV and the initial investment from Japan Fluorite Corporation are set to occur in the first half of July. In December 2024, Tivan was awarded a A$7.4m cash grant from the Australian Government to support the Speewah Fluorite Project, part of a broader effort to bolster international supply chain partnerships for critical minerals. "Sumitomo receives FIRB nod for investment in Tivan's Speewah Fluorite Project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
