Historic lithium mineral lease to spark new Northern Territory industry

THE first lithium mineral lease has been awarded in the Territory signalling the first real beginning of a new NT industry with the potential to create hundreds of new jobs

Riggers with a solar panel farm that charges a 2MWh lithium-ion battery bank and provides power to the Daly River community. The first lithium mineral lease has now been awarded in the Territory

IN a history-making moment for the Northern Territory, the first lithium mineral lease has been awarded, signalling the first real beginning of a new industry for the Territory with the potential to create hundreds of new jobs.

Emerging South Australian lithium developer Core Lithium has been granted a minerals lease for the Grants Deposit, which is a key component of the company’s 100 per cent owned Finniss Lithium project about 80km west of Darwin.

Lithium is used in the manufacture of aircraft and batteries.

In one of her last duties before going on maternity leave, Deputy Chief Minister Nicole Manison sent Core an offer of a mineral lease for 20 years.

An ecstatic Core managing director Stephen Biggins said the mineral lease had been awarded three months earlier than anticipated.

Lithium is used in the manufacture of lithium-ion batteries

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“The awarding of this mineral lease is both historic and momentous for Core, the NT Government, and the Northern Territory in that it is the first lithium-focused mineral lease awarded in the NT, moving it much closer to having its first operating lithium mine,” he said.

“This is a huge step forward in delivering a new industry to the Northern Territory around batteries and renewable energy, with Core now well on the way to becoming the NT’s first lithium producer.”

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Mr Biggins said test results indicated the project could be expanded beyond first estimates. He said international interest in the lithium project had been high.

“We have had meaningful discussions with customers from all over the globe – China, Korea, and Europe,” he said.

“We have signed a one million tonne binding offtake and $US20 million prepayment agreement with Yahua, one of China’s largest lithium producers and there are discussions under way with others.

“We are hopeful full regulatory approvals will be in place by the second quarter of this year and then moving to construction phase in the middle of this year.

“We expect more than 150 long-term jobs will be created running the mine and processing facility. These are direct jobs, but there would be positive flow-on effects for local businesses.”

On the back of expected demand for electric vehicles, the global lithium industry is going through huge growth with the production of lithium expected to double from 2015 to 2020.