Tivan advances $50 million Molyhil tungsten joint venture

Tivan has reported material progress toward a proposed $50 million joint venture for the Molyhil tungsten project in Australia’s Northern Territory. The venture involves Sumitomo Corporation and ETFS Capital, with the parties aiming to execute long-form agreements during the fourth quarter of 2026.

Under a memorandum of understanding signed in June, Sumitomo may invest up to $25 million in stages for an interest of up to 8.75 per cent in the Molyhil joint venture. This investment includes an initial $4.5 million and potential offtake arrangements covering up to 100 per cent of the project’s production. ETFS Capital may also invest up to $25 million for an effective 8.75 per cent interest in Molyhil.

The structure is designed to allow Tivan to retain an effective 82.5 per cent interest at the final investment decision. Sumitomo is expected to seek Australian foreign investment approval shortly, following the completion of its second stage of project due diligence.