Sumitomo Secures FIRB Nod for Speewah Fluorite JV Investment

FIRB Approval Unlocks Strategic Partnership

Tivan Limited (ASX – TVN) has announced a pivotal regulatory milestone with the Foreign Investment Review Board (FIRB) granting approval for Sumitomo Corporation's subsidiary, JFC, to proceed with its initial equity investment in the Speewah Fluorite Project. This endorsement is a critical step in formalising the joint venture that aims to develop, finance, and operate one of Australia's promising critical minerals assets.

Investment Structure and Project Development

Under the joint venture agreement executed in May 2025, JFC is positioned to invest up to A$60.3 million in tranches, acquiring up to a 22.5% interest in the incorporated joint venture (IJV). The initial tranche of A$5.3 million will be directed towards advancing the project's feasibility study, a key phase that will define the technical and economic viability of the Speewah Fluorite Project. The project focuses on producing high-grade fluorspar (>97% CaF2), a mineral critical for various industrial applications including the manufacture of hydrofluoric acid.

Government Support and Strategic Implications

The joint venture benefits from the Australian Government’s International Partnerships in Critical Minerals (IPCM) Program, which supports projects that strengthen supply chains of essential minerals. This funding not only underscores the strategic importance of the Speewah Project but also reflects the robust bilateral relationship between Australia and Japan. Tivan’s Executive Chairman, Mr Wilson Grant, highlighted the significance of the FIRB approval amid a complex global minerals landscape, emphasizing the partnership’s role in securing critical mineral supply.

Next Steps and Market Outlook

With FIRB approval secured, Tivan is finalising the project restructure necessary to facilitate the joint venture’s formal establishment, anticipated in early July 2025. This restructuring includes transferring project tenements into the IJV and completing the novation of government funding agreements. The successful execution of these steps will enable the joint venture to progress towards operational readiness, positioning the Speewah Fluorite Project as a key player in the global fluorspar market.

Investors will be watching closely as the feasibility study results emerge and subsequent investment tranches are deployed, providing clearer insights into the project's potential returns and risks.