Tivan Advances Speewah Fluorite Project with EFA Support and NAIF Due Diligence
Tivan Limited has taken significant strides in financing its Speewah Fluorite Project, securing a conditional Letter of Support from Export Finance Australia and moving into the Northern Australia Infrastructure Facility’s due diligence phase. These developments mark important progress toward full project funding and highlight fluorite’s rising strategic importance.
- Non-binding Letter of Support received from Export Finance Australia
- Progression to Northern Australia Infrastructure Facility’s Due Diligence Phase
- Incorporated joint venture with Sumitomo Corporation and JOGMEC
- Project targets production of acidgrade fluorspar for export
- Complementary conditional equity funding arrangements in place
Strategic Government Backing
Tivan Limited has announced a pivotal advancement in the development of its Speewah Fluorite Project located in Western Australia’s Kimberley region. The company has received a non-binding and conditional Letter of Support from Export Finance Australia (EFA), the government’s export credit agency, and progressed to the Northern Australia Infrastructure Facility’s (NAIF) Due Diligence Phase for potential debt financing. These milestones underscore the project’s alignment with Australia’s critical minerals strategy and its potential to become a cornerstone export operation.
Joint Venture with Strategic Partners
The Speewah Project is being advanced through an incorporated joint venture involving Tivan, Sumitomo Corporation; a major Japanese trading house; and the Japan Organization for Metals and Energy Security (JOGMEC). This partnership reflects strong international interest and investment, with Japan Fluorite Corporation, a JOGMEC subsidiary, having already committed an initial $5.3 million to fund a feasibility study. The joint venture aims to develop Australia’s first fluorite mining and processing operation producing acidgrade fluorspar, a high-purity mineral critical for various high-tech and industrial applications.
Critical Minerals and Economic Impact
Fluorine was added to Australia’s Critical Minerals List in late 2023, highlighting its strategic importance. Fluorspar derived from fluorite is essential in semiconductor manufacturing, electric vehicle batteries, refrigerants, aluminium production, and even uranium enrichment. The Speewah Project has been granted Major Project Status by the Australian Government, reflecting its potential to contribute significantly to the East Kimberley region’s economy and Australia’s position in global critical minerals supply chains.
Financing Pathway and Next Steps
While the Letter of Support from EFA is non-binding and subject to customary conditions, it represents a crucial endorsement of the project’s viability. NAIF’s progression to the Due Diligence Phase involves comprehensive assessments of financial, technical, environmental, and social risks, marking a key step toward potential concessional loan approval. These developments complement existing conditional equity funding arrangements, including potential investments of up to A$60.3 million from Japan Fluorite Corporation and a separate Australian family office investor.
Looking Ahead
Tivan’s Executive Chairman, Grant Wilson, expressed optimism about the progress, emphasizing the project’s strategic fit with government priorities and the benefits for northern Australia. As the Speewah Fluorite Project moves closer to securing full financing, it stands poised to establish a new critical export sector for Australia, reinforcing the country’s role in supplying essential minerals to global markets.
Bottom Line?
Tivan’s financing milestones signal growing momentum for Speewah, but final investment decisions and project execution remain on the horizon.
Questions in the middle?
- Will NAIF commit to concessional debt financing following due diligence?
- How will equity investments from Japanese and Australian partners evolve?
- What are the potential environmental and social challenges in project development?
