Part 1 ProNorthern Territory company Tivan Limited has announced a strategic alliance agreement with Japanese-based Fortune 500 company Sumitomo Corporation.
The agreement is a foundation for the development, financing and operation of the Speewah Fluorite Project in Western Australia’s East Kimberley region.
It is the first such agreement Sumitomo Corporation in Australia’s critical minerals sector.
Under the agreement, Tivan and Sumitomo will negotiate a binding joint venture agreement with Sumitomo to be the sole distributor and agent to market Speewah’s commercial grade fluorspar product in Asia, with prescribed tonnage reserved for Japanese customers.
Tivan executive chairman Grant Wilson said the collaboration positioned Speewah as a globally significant, stable and long-term source of high-grade fluorite.
Fluorite is a critical feedstock for semiconductor manufacturing and the electric vehicle battery supply chain.
Global fluorspar prices have made historical highs this year amid supply constraints and reserve depletion in China.
Ann: Tivan and Sumitomo Corporation agree Strategic Alliance, page-32
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