Tivan Limited has completed its acquisition of the Baucau and Ossu mineral projects in Timor-Leste and signed a non-binding agreement to form a joint venture with the state-owned Murak Rai. The move positions Tivan at the forefront of mineral exploration in a highly prospective but underexplored region.
- Acquisition of 100% of Baucau and Ossu Projects completed
- Non-binding joint venture term sheet signed with Murak Rai Timor EP
- Tivan to hold 80% and Murak Rai 20% in planned incorporated joint venture
- Regional field validation program underway targeting copper, cobalt, gold
- Regulatory approvals and environmental requirements in progress
Tivan Expands Footprint in Timor-Leste
Tivan Limited (ASX – TVN) has marked a significant milestone with the completion of its acquisition of the Baucau and Ossu Projects, located approximately 123 kilometres east of Timor-Leste’s capital, Dili. The acquisition, finalised following regulatory approval from the Timor-Leste mineral resources authority, Autoridade Nacional dos Minerais (ANM), adds 289 square kilometres of highly prospective ground to Tivan’s portfolio, rich in copper, cobalt, gold, and other critical minerals.
This strategic expansion complements Tivan’s existing Turiscai Project in the region, collectively covering over 630 square kilometres. Timor-Leste’s geological setting, part of the southern outer Banda Arc, is known for its complex tectonic activity and mineral-rich formations, yet remains one of the least explored territories globally for copper-gold deposits. The Baucau and Ossu licences are situated in proximity to world-class deposits such as Grasberg and Ok Tedi, underscoring their potential significance.
Partnership with State-Owned Murak Rai Timor EP
In a move that underscores its commitment to responsible and collaborative development, Tivan has signed a Non-Binding Term Sheet with Murak Rai Timor EP, the Timor-Leste state-owned mining company. This agreement sets the framework for an incorporated joint venture, with Tivan initially holding an 80% stake and Murak Rai 20%. The joint venture aims to align with Timor-Leste’s vision for sustainable economic growth and mineral sector development.
The joint venture structure includes provisions for Murak Rai’s interest to be free carried until the completion of a Definitive Feasibility Study on any commercial discovery. Post-study, Murak Rai may choose to maintain its stake through pro rata contributions or convert part of its interest into a net smelter royalty, reflecting a flexible and mutually beneficial partnership model.
Advancing Exploration and Regulatory Compliance
Tivan’s geology team has already commenced a regional-scale field validation program, focusing on detailed geological mapping and surface sampling across historically mineralised zones. Initial assay results are anticipated by early Q2 2026, which will provide critical insights into the projects’ resource potential.
Meanwhile, Tivan continues to work closely with ANM and other regulatory bodies to finalise outstanding approvals, including licence documentation and environmental requirements. Community engagement is also a priority, with plans underway to involve local stakeholders in the Baucau and Ossu areas, reinforcing Tivan’s commitment to responsible exploration practices.
Strategic Implications and Outlook
The acquisition and planned joint venture represent more than just an expansion of Tivan’s tenure; they signal a deepening partnership with Timor-Leste’s government and institutions. The company’s approach aligns with the recent Parseria Foun Ba Era Foun declaration between Australia and Timor-Leste, emphasising sovereignty, cooperation, and sustainable development.
For investors and industry watchers, Tivan’s moves position it as a key player in unlocking Timor-Leste’s mineral potential, a region poised for growth but still largely underexplored. The success of the joint venture and forthcoming exploration results will be pivotal in shaping the company’s trajectory and the broader mining sector’s evolution in the country.
Bottom Line?
Tivan’s strategic acquisition and JV plans set the stage for a new chapter in Timor-Leste’s mineral exploration story, with early assay results and JV formalisation to watch closely.
Questions in the middle?
- When will the joint venture agreement with Murak Rai be formally executed and operational?
- What initial assay results will the upcoming field validation program reveal about mineralisation potential?
- How will regulatory and environmental approvals impact the timeline for project development?