The Tivan Sumitomo joint venture has reached a crucial milestone with official FIRB approval from the Australian Government.
This approval enables the initial equity investment by Japan Fluorite Corporation into the Speewah fluorite development.
In May 2025, Tivan Limited (ASX: TVN) signed binding agreements with Sumitomo Corporation and Japan Fluorite Corporation.
Their aim is to develop, finance and operate the Speewah Fluorite Project through a newly formed incorporated joint venture.
Strategic Investment Gains Approval
The Foreign Investment Review Board (FIRB) has confirmed that there are no objections to the proposed investment.This approval is essential under the Foreign Acquisitions and Takeovers Act 1975 and clears the path for Tranche 1 funding. With FIRB approval granted, Japan Fluorite Corporation can now proceed with its initial investment in the joint venture.
This step reinforces the credibility and momentum of the Tivan Sumitomo joint venture and the Speewah fluorite asset.
Three-Stage Investment Plan
The joint venture allows Japan Fluorite Corporation to invest up to A$60.3 million in three distinct tranches. This investment could deliver up to a 22.5% equity interest in the Speewah Fluorite Project joint venture company. The first investment, known as Tranche 1, is valued at A$5.3 million and provides an initial 7.5% equity share. Funds from Tranche 1 will support a detailed Feasibility Study for the mining and processing of acid-grade fluorspar.
Feasibility Study and Market Goals
The Feasibility Study will cover operational planning for both mining and processing of acid-grade fluorspar over 97% purity.The primary goal is to export this critical mineral into global supply chains and support growing industrial demand. Acid-grade fluorspar is a key input in aluminium, steel, chemical, and clean energy technologies across international markets. The Speewah fluorite resource is uniquely placed to serve these sectors at a time of global supply pressures.
Tranche 1 Conditions
The Tranche 1 investment is subject to three specific conditions that are currently being fulfilled by Tivan:
- FIRB approval—Now received and publicly confirmed.
- Novation of IPCM grant—Tivan has submitted the formal application for grant transfer to the joint venture.
- Project restructure—This includes transfer of tenements to the new IJV entity being formed by Tivan and JFC.
With FIRB approval in hand and IPCM grant application underway, only the restructure remains before formal investment begins.
Project Restructure Nears Completion
Tivan is currently finalising the project restructure required to activate the joint venture structure. This includes legal and regulatory processes to transfer tenements to the newly formed joint venture company. Once completed, this will formally establish the Tivan Sumitomo joint venture and enable Japan Fluorite Corporation’s entry. This event is expected to occur in the first half of July 2025, bringing funding and development forward.
Strengthening Australia–Japan Critical Minerals Ties
This FIRB-approved collaboration underlines the strong bilateral relationship between Australia and Japan in critical minerals development. Japan Fluorite Corporation is a dedicated subsidiary of Sumitomo Corporation, formed specifically for this project. The Speewah fluorite initiative also aligns with Australia’s International Partnerships in Critical Minerals (IPCM) Program. Tivan’s grant novation ensures government funding support continues within the new investment structure.
Executive Support and Outlook
Tivan Executive Chairman Grant Wilson welcomed the FIRB approval as a major enabler of the project’s future. He highlighted the global strategic importance of the Tivan Sumitomo joint venture during a time of market disruption.
“At a complex moment for the global critical minerals sector, this timely approval reflects the strength of Australia–Japan ties,”
said Mr Wilson, reinforcing the long-term collaboration vision through the Speewah fluorite development.
A Strategic Asset for Global Fluorspar Markets
The Speewah Fluorite Project is one of Australia’s most promising undeveloped sources of acid-grade fluorspar. Its advancement through the Tivan Sumitomo joint venture supports global efforts to diversify supply of critical minerals. With Tranche 1 investment now on track, the Feasibility Study will pave the way for mine construction and product export. This development secures Australia’s place in the global acid-grade fluorspar market and drives forward industrial sustainability.
