Tivan expands fluorite footprint in Australia

Tivan (ASX:TVN) has announced the acquisition of the Sandover Fluorite Project, located northeast of Alice Springs, Northern Territory. The acquisition, valued at A$1.075 million, strengthens Tivan's position in the fluorite sector. It complements the company's existing Speewah Fluorite Project in Western Australia.

Strategic acquisition summary and future outlook

Tivan’s acquisition of the Sandover Fluorite Project marks a significant step in expanding its fluorite endeavors in Australia. This strategic move aims to support the semiconductor and next-generation battery sectors by increasing high-grade fluorite supply. The project includes six tenements and is valued at A$1.075 million, with payments contingent upon resource definition and production milestones. Tivan plans to conduct mapping and sampling activities to confirm historical findings and explore new mineralization zones. Looking forward, Tivan intends to undertake a drilling program by mid-2025, further emphasizing its commitment to strengthening its position in the critical minerals market. The acquisition also highlights Tivan's strategic alliance with Sumitomo Corporation, aligning with national interests in critical minerals and international resource development partnerships.

Executive insights on fluorite project acquisition

We are pleased with the acquisition of the Sandover Fluorite Project, which aligns with our strategy to enhance our fluorite portfolio. The synergy with existing projects and our partnership with Sumitomo Corporation underscores the strategic importance of this acquisition for Tivan.