Tivan Says Joint Venture Partners Approve Feasibility Study for Western Australia Fluorite Project, Shares Down 3%

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Tivan (ASX:TVN) said the feasibility study for its Speewah fluorite project in Western Australia has been approved by joint venture partners Sumitomo and Japan Organization for Metals and Energy Security (JOGMEC), according to a Friday Australian bourse filing.

As a result, the joint venture partners have confirmed their intent to proceed with an AU$5 million tranche two equity investment in the joint venture company, with funds to be used to progress the definitive feasibility study currently underway, the filing added.

Tivan aims to develop the project as Australia's first fluorite mining and processing operation, producing acid-grade fluorspar of more than 97% calcium fluorite for export into global markets, the filing added.

The company's shares fell 3% in recent Friday trade.

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