Tivan Limited (ASX:TVN) Secures $7.4 Million Grant for Speewah Fluorite Project
Grant Award Details
Tivan Limited (ASX:TVN) has received a $7.4 million cash grant for its Speewah Fluorite Project under the Australian Government’s International Partnerships in Critical Minerals (IPCM) Program. This funding aims to support early to mid-stage critical minerals projects, contributing to Australia’s supply chains with international partners.
Project Development and Funding Utilisation
The grant will facilitate the completion of Feasibility and Definitive Feasibility Studies for the Speewah Fluorite Project. With plans to produce acid grade fluorspar in collaboration with Japan’s Sumitomo Corporation, Tivan aims to reach a final investment decision by Q1 2026 and commence production in 2027.
Significance of Acid Grade Fluorspar
Acid grade fluorspar is vital for the semiconductor manufacturing and electric vehicle battery industries. Currently, Australia lacks domestic fluorspar production, positioning this project to fill a critical market gap. The initiative is expected to generate regional economic benefits and enhance job opportunities in the East Kimberley region.
Executive and Government Comments
Minister of Resources and Northern Australia, Hon Madeleine King MP, expressed that the grants would aid in developing Australian critical minerals projects, creating skilled jobs in various sectors.
Tivan’s Board expressed their gratitude toward Minister King for the successful grant outcome. Executive Chairman Grant Wilson stated, “Tivan is strongly supportive of the Federal government’s Critical Minerals Strategy 2023-30, which aligns with our mission to build a strategically important company across northern Australia.”
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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