Tivan has lined up financing, secured a potential long-term customer and strengthened its community partnerships as it works to bring the long-dormant Molyhil Tungsten project back into production in the Northern Territory.
The company has signed key terms agreements with Sumitomo Corporation, one of Japan’s largest trading houses, and existing partner ETFS Capital, which is already working with Tivan on the Speewah Fluorite Project in Western Australia.
Together, the proposed joint venture could unlock up to $50 million in staged investment to develop Molyhil, while Sumitomo would also have the opportunity to secure offtake for up to the project’s full life-of-mine tungsten production.
“The Molyhil Tungsten Project has been shuttered since 1982. Despite attempts by various owners, it has taken the dedicated efforts of Tivan’s team over the past nine months to decisively resurrect the Project,” executive chairman Grant Wilson said.
“Tivan has established a credible and trusted pathway for project finance, as well as for marketing and distribution.”
Under the proposed joint venture structure, Sumitomo and ETFS Capital could each invest up to $25 million through staged funding tied to project milestones, while allowing Tivan to retain an effective 82.5 per cent interest at a final investment decision.
The agreements build on recent momentum at Molyhil, where Tivan has mobilised drilling and is progressing a pre-feasibility study following a positive scoping study that highlighted the project’s economic potential.
Acquired by Tivan in 2025, Molyhil hosts a mineral resource containing tungsten and molybdenum, two critical minerals used across defence, advanced manufacturing and industrial applications.
As development gathers pace, Tivan has also signed a memorandum of understanding with Aboriginal Investment NT (AI NT) to explore opportunities for direct investment, employment, procurement, training and business contracting throughout the life of the project.
“Through this engagement, we will explore how investment, employment, and enterprise development outcomes can be embedded from an early stage, creating pathways for long term economic participation and self determination,” AI NT chief executive officer Nigel Browne said.
The AI NT agreement builds on Tivan’s existing partnerships with the Central Land Council, expanding the company’s efforts to create long-term educational, vocational, cultural and commercial opportunities for Aboriginal Australians as it advances Molyhil and its broader critical minerals portfolio in central Australia.
The parties are targeting binding agreements later this year.
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