Tivan Limited (ASX:TVN) has inked a ‘strategic alliance’ with Japanese engineering and chemicals multinational Sumitomo around Tivan’s Speewah Fluorite project in WA.
Flurospar is a naturally occurring mineral with uses in diverse industrial applications. It can be incorporated into the manufacturing of uranium fuels, as well as refrigerants, steel and gasoline.
Also on-site Tivan’s Speewah acreage is a vanadium resource with that mineral going towards steelmaking, and, the production of vanadium electrolyte grid-scale energy storage batteries.
As part of the JV signed today, Tivan and Sumitomo are going to work out the details of a proposed JV to develop the project.
Given the nature of minerals included within the Speewah resource, it’s easy to see Sumitomo’s interest in the project.
Under the terms of the JV already worked out, Sumitomo would market and distribute the fluorspar extracted from Speewah. As part of that deal, Japanese customers would receive a specific amount.
Tivan described the deal on Friday as one that furthers the “bilateral relationship between Australia and Japan.”
“Over the past year Tivan has prioritised Japan as an enduring and trusted partner to Australia,” Tivan executive chairman Grant Wilson said.
“Our Strategic Alliance with Sumitomo Corporation is the culmination of these efforts.”
TVN last traded at 6.1cps.