Speewah Project Faces Critical Feasibility Phase Despite Strong Funding
Tivan Limited’s Speewah Fluorite Project has secured a $2 million second instalment from the Australian Government’s IPCM grant, boosting joint venture efforts to progress feasibility studies ahead of a final investment decision.
- Second $2 million IPCM grant instalment received by Fluorite SPV
- Total $3.25 million grant funding received to date from $7.4 million awarded
- Grant agreement novated to Fluorite SPV, joint venture owner
- Sumitomo and JOGMEC invested $5.3 million equity for 7.5% stake
- Further $4.15 million grant payments expected in 2026
Government Funding Bolsters Speewah Fluorite Project
Tivan Limited (ASX, TVN) has announced the receipt of a $2 million second instalment payment from the Australian Government’s International Partnerships in Critical Minerals (IPCM) grant program. This payment, net of GST, was made directly to Fluorite SPV Pty Ltd, the incorporated joint venture vehicle that owns the Speewah Fluorite Project. The grant is part of a $7.4 million award aimed at supporting the project’s feasibility studies.
The IPCM grant agreement was recently novated from Tivan to Fluorite SPV, reflecting the joint venture structure that includes Tivan, Sumitomo Corporation, and the Japan Organization for Metals and Energy Security (JOGMEC). This move aligns funding directly with the project owner, streamlining the financial and operational management of the Speewah Fluorite Project.
Joint Venture Equity Injection Complements Grant Funding
Alongside the government grant, Sumitomo Corporation and JOGMEC’s special purpose subsidiary, Japan Fluorite Corporation, have made an initial equity investment of $5.3 million into Fluorite SPV. This investment secured them a combined 7.5% equity interest in the project, further underpinning the financial foundation needed to advance the ongoing Feasibility and Definitive Feasibility Studies.
To date, Fluorite SPV has received $3.25 million of the total grant funding, with the remaining $4.15 million scheduled for disbursement in 2026. These funds are earmarked to support critical study phases that will inform the final investment decision on whether to proceed with construction and operation of the project.
Strategic Progress and Outlook
Tivan’s Executive Chairman, Grant Wilson, highlighted the constructive role of the IPCM grant in facilitating the joint venture partnership and accelerating project development. He noted the rapid progress made in the first half of 2025, underscoring the momentum behind the Speewah Fluorite Project as it moves closer to a definitive investment decision.
While the grant funding and equity injections significantly de-risk the project’s financing, the ultimate success will depend on the outcomes of the feasibility studies and market conditions for critical minerals. The Speewah Fluorite Project remains a key asset in Australia’s critical minerals landscape, with strong backing from both government and strategic partners.
Bottom Line?
With government funding and strategic equity in place, the Speewah Fluorite Project is poised for a pivotal feasibility phase that could shape its future trajectory.
Questions in the middle?
- What are the key milestones and timelines for the remaining feasibility studies?
- How will market demand for fluorite influence the final investment decision?
- What are the potential risks or challenges that could delay project development?