The Speewah fluorite project, located in the Kimberley Region of north-east Western Australia, has received a US$7.4M grant from the Australian Government.

Tivan has received US$7.4M in grant funding for the Speewah fluorite project after successfully submitting its application to the Australian Government’s International Partnerships in Critical Minerals (IPCM) Program in July 2024.

The company intends to match grant funding directly or through a joint venture, with the funds allocated to support the Feasibility and Definitive Feasibility Studies. The funding may also be utilised for various eligible expenditures in preparation for the final investment decision (FID), expected to be made in Q1 2026, with initial production projected for 2027.

The Speewah fluorite project aims to produce acid-grade fluorspar (acidspar), an essential raw material in the fluorochemical, semiconductor and electric vehicle (EV) industries. Project Blue projects a 5.2% CAGR in acidspar demand from 2024 to 2034, indicating a growing global demand.

The inclusion of fluorspar in the Australian Critical Minerals List in December 2023 underscores the mineral's strategic importance and highlights the country's dependence on imported fluorspar. Additionally, this inclusion highlights the country's need to strengthen the domestic supply chain for this critical mineral.

Efforts to source fluorspar domestically are ongoing, as Tivan has expanded its upstream portfolio by announcing the acquisition of a second fluorite project located northeast of Alice Springs in the Northern Territory of Australia.

The Speewah fluorite project has seen ongoing developments, with the first phase of drilling commencing in October 2024. This phase primarily focused on metallurgical test drilling, with plans to carry out up to eleven diamond drill holes aimed at the existing resource.

In November 2024, the Minister for Industry and Science, Hon. Ed Husic MP, awarded the Speewah fluorite project Major Project Status on behalf of the Australian government. This designation recognises Speewah's significance by placing it among 16 other major projects that align with Australia’s Critical Minerals and National Battery Strategies. The designation will be valid for three years, starting from 29 November 2024.