Tivan has signed a binding term sheet with Fram Resources and Molyhil Mining to acquire 100 per cent of the Molyhil tungsten-molybdenum project in the Northern Territory.
Located 220km north-east of Alice Springs and adjacent to Tivan’s Sandover fluorite project, Molyhil has a mineral resource estimate (MRE) of 4.647 million tonnes at 0.26 per cent tungsten trioxide and 0.09 per cent molybdenum for 12,100 tonnes of tungsten trioxide and 4400 tonnes of molybdenum.
These critical minerals are used in the defence, automotive, semiconductor and clean energy sectors and are in demand globally – highlighting their importance to Australia’s economy and national interests.
The acquisition, costing $8.75 million, benefits operations due to significant infrastructure and its proximity to the Sandover project.
Tivan believes the acquisition will enable a long-term critical minerals precinct to be created in central Australia with opportunity to leverage “established commercial relationships” to grow the project.
“Tivan is the natural owner of the Molyhil project,” Tivan executive chairman Grant Wilson said. “We have the capabilities, standing and determination required to lift the project out its prolonged orphan phase and into production in rapid time.
“The criticality of Molyhil is reflected in China’s recent export restrictions and the major shifts that are underway in favour of national stockpiling of select critical minerals. Tivan is operating at the frontier of these developments, with our strong governmental relationships in Australia and our Tier 1 project partners in Japan.”
Small-scale open pit mining of the project’s tungsten and molybdenum deposits was undertaken in the 1970s, with a definitive feasibility study published in 2018 and an updated MRE published in 2024.
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