Tivan and the Speewah Fluorite Project

You might’ve spotted Tivan quietly making their mark around town these past couple of years. They haven’t been making a fuss, but don’t be fooled, behind the scenes, there’s been some serious momentum building. We’re thrilled to announce that Kununurra Sun is now onboard as Tivan’s local storytelling partner. We’ll be bringing you updates straight from the ground on their work at the Speewah Project and how they’re working closely with Traditional Owners, Native Title Holders and local stakeholders every step of the way.

We recently sat down with Tivan’s Executive Chairman, Grant Wilson, for an inside look at what’s happening now, and what’s on the horizon.

GRANT, WELCOME TO KUNUNURRA SUN! CAN YOU SHARE A LITTLE BIT ABOUT TIVAN FOR OUR READERS?

Sure, Tivan is an ASX-listed critical minerals company, based in Darwin. We started up around two & a half years ago. Our mission is to build a company of strategic importance across northern Australia. We’re also advancing projects in central Australia and Timor- Leste.

WHAT EXACTLY IS THE SPEEWAH PROJECT?

Speewah is Tivan’s flagship project and is located about 110km south- west of Kununurra and 100km south of Wyndham. Doon Doon is the nearest township and community, on the Great Northern Highway. Tivan acquired the Speewah Project in Q1 2023. It’s a special place & very significant from a geological perspective. It hosts two significant critical minerals deposits - fluorite and vanadium. This makes Speewah not only a regionally important project, but of ational and global significance. At present, Tivan is actively progressing development planning for the Speewah Fluorite Project, with extensive supporting work underway onsite and with our project partners. While vanadium remains a valuable longer-term opportunity, the focus of our current activity, investment, and community engagement is fluorite.

WHAT IS FLUORITE AND WHY DOES IT MATTER?

Fluorite (also known as fluorspar) is an industrial mineral that plays a big role in producing semiconductors, batteries for electric vehicles (EVs), and renewable energy technology - things we’re all hearing more about as the world transitions to cleaner energy. In late 2023, fluorine (the elemental form) was officially added to Australia’s Critical Minerals List - recognising its scarcity and importance to global supply chains. The Speewah Project involves both mining and processing onsite, and aims to produce a 97% grade fluorspar product. The project is an Australian-first, with a strong emphasis on value addition in country. In July 2024, Tivan published a Pre-Feasibility Study for the Project, confirming the technical and economic robustness. In December 2024, the Australian Government granted Major Project Status to Speewah, recognising its importance to national priorities. Following this, ivan was awarded a $7.4 million International Partnerships in Critical Minerals grant to help fund remaining easibility study phases.

WHO ARE YOUR PROJECT PARTNERS?

In May, Tivan finalised a landmark joint venture with Sumitomo Corporation, one of Japan’s most respected trading houses and a Fortune Global 500 company. The partnership is a significant vote of confidence in both the Speewah Fluorite Project and large-scale investment in the East Kimberley region. The joint venture is structured as a stage-gated equity Investment of A$60.3 million from Sumitomo, including a planned $50 million for project development. Sumitomo will act as exclusive distribution agent for the Project, using extensive networks across Asia. Tivan has also secured a non-binding $51 million term sheet from an Australian based investor for development of the project, to match Sumitomo’s planned equity investment. We currently expect capital expenditures in the ballpark of $250 million, with the balance of funding to be structured as debt finance.

SO WHAT’S ON THE TO-DO THIS YEAR?

At our offices we are focused on engineering and design. On country, our team recently ommenced an extensive drilling campaign. This work will help us better understand the resource and inform project delivery. We’re proud to be working with MDM Mining & Civil, a locally based and Indigenous- owned business. Their team has been busy with the access roads and supporting infrastructure for the drilling campaign. Around 35,000 metres of drilling is planned for this year, so it’s a very large program. It’s a big step forward, and one we’ve been carefully preparing for with a growing team of geologists, engineers and project professionals.

CAN YOU SHARE MORE ABOUT THE PROJECT TIMELINE?

Tivan has been working behind the scenes in the region for the past two years, particularly on environmental studies. As project development always involves some level of uncertainty, we chose to keep a low profile in the region, to avoid raising undue expectations of success. We are far enough along now to have strong conviction that we can deliver the Project. We are working toward the delivery of a Feasibility Study in Q4 2025, Definitive Feasibility Study Q2 2026, and Final Investment Decision (FID) Q3 2026. Subject to FID, construction is planned to begin shortly thereafter and expected to take place over a period of around 15-18 months.

HOW IS TIVAN RESPECTING CULTURE AND COUNTRY?

Tivan is committed to working respectfully with Traditional Owners and Native Title Holders, and has been closely engaged on country over the past two years. The drilling program is being carried out under a Heritage Protection Agreement (HPA), agreed with the Kimberley Land Council (KLC) and the Nganjuwarr native title claimants. As part of this, EHSIS conducts cultural heritage surveys on behalf of Traditional Owners and Native Title Holders. These agreements ensure our work supports the protection of sites of cultural significance and recognises Native Title, and that Traditional Owners have a strong voice in how development unfolds.

COULD YOU OUTLINE THE EMPLOYMENT AND LOCAL ENTERPRISE PROSPECTS IN THE AREA?

We are definitely looking to maximise local involvement in every stage of the project. Later in the year, we’ll be collecting expressions of interest from local businesses and individuals keen to be part of the next stages, particularly as we work toward FID. The project is expected to require around 250-300 personnel during peak construction, and 125–150 ongoing operational roles. We’re committed to localisation and believe that our project can make a durable contribution to the East Kimberley region.

FOR MORE INFORMATION ON THE SPEEWAH PROJECT, HEAD TO TIVAN.COM.AU