Tivan (ASX:TVN) announced a breakthrough for its Speewah Fluorite Project in Western Australia, securing formal approval for its feasibility study from key international joint venture partners.
The endorsement from Japan Fluorite—representing heavyweights Sumitomo and the Japan Organisation for Metals and Energy Security—marks a critical turning point for the development.
The collective green light, which also includes approval from strategic partner ETFSC Capital, underscores the project's technical and economic viability.
As a direct result of this milestone, JFC has confirmed its intent to proceed with a $5 million "Tranche 2" equity investment into the joint venture company.
The funds are specifically earmarked to accelerate the definitive feasibility study, which is already underway.
The DFS will provide the final analytical framework required for a definitive investment decision, bringing the company closer to its goal of establishing Australia’s first dedicated fluorite mining and processing operation.
The project is designed to produce high-purity, acid-grade fluorspar for the global export market.
Tivan Executive Chairman Grant Wilson highlighted that the progress reinforces the vital bilateral relationship between Australia and Japan within the critical minerals sector.