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Highlights:

  • TVN signs MoU with Sumitomo Corporation for Sandover Fluorite Project collaboration.
  • Tivan acquired 100% of Sandover Project in 2024; PFS expected ahead of 2026 study phase.
  • TVN targeting metspar and acid-grade fluorspar; drilling to commence in Q4FY25.

Tivan Limited (ASX:TVN) has entered into a Memorandum of Understanding (MoU) with Sumitomo Corporation for the potential development of the Sandover Fluorite Project in the Northern Territory. This marks the second collaboration between the companies in the fluorite sector, following their existing incorporated joint venture for the Speewah Fluorite Project in Western Australia. The MoU outlines a commitment by both parties to engage in good faith discussions to explore potential collaboration in areas such as project development, financing, construction, marketing, and operations. These discussions are non-binding and subject to the delivery and review of a Pre-Feasibility Study (PFS) for the project, which is currently in progress.

Tivan acquired full ownership of the Sandover Fluorite Project through an agreement signed in November 2024, finalised in March 2025. The project is located approximately 230 kilometres north-east of Alice Springs and about 8 kilometres from Tivan’s existing Sandover AI Project. It includes ground previously held by subsidiaries of Investigator Resources Limited and Thor Energy Plc. Surface sampling results released in January and June 2025 confirmed the presence of ultra high-grade calcium fluorite (CaF₂) across an extensive strike length. These results form the basis of ongoing resource definition work that will inform the PFS and subsequent decision-making around project development.

Tivan has laid out a two-pathway development approach for the project:

  • A Direct Shipping Ore (DSO) route targeting metallurgical spar (metspar) with >80% CaF₂ content; and
  • A traditional processing route to produce acid-grade fluorspar with >97% CaF₂.

A maiden reverse circulation (RC) drilling program is scheduled to begin in Q4FY25, supported by co-funding from the Northern Territory Government’s Geophysics and Drilling Collaborations program. The drilling will help determine the size, grade, and viability of a mining operation. In addition to technical work, Tivan has advanced environmental licensing, as well as cultural heritage and sacred site clearances in consultation with the Central Land Council. The company is headquartered in Darwin and has established operations across multiple sites in the Northern Territory.

Under the MoU:

  • Tivan will provide Sumitomo with access to completed studies for due diligence.
  • Both parties will maintain exclusivity in collaboration discussions through a period extending 60 days after submission of the PFS.
  • Sumitomo Corporation holds first right of refusal should Tivan seek to transfer or divest any interest in the project during the MoU term.
  • The MoU is effective until 31 December 2026, unless terminated earlier by mutual agreement or defined terms.
  • There is no obligation for either party to enter into definitive commercial agreements as a result of the MoU.

This agreement follows the May 2025 announcement of binding agreements between Tivan and Japan Fluorite Corporation (jointly owned by Sumitomo and the Japan Organization for Metals and Energy Security) for the Speewah Fluorite Project. Fluorite is the raw mineral used to produce fluorspar, a material essential to the manufacturing of lithium-ion batteries, semiconductors, and a range of industrial chemicals. Australia does not currently have domestic fluorspar production. In recognition of its strategic importance, fluorine was added to Australia’s Critical Minerals List in December 2023. 

TVN is trading at 25.00% higher at AUD 0.10 per share as on 21 July 2025.