Lithium mine near Berry Springs could pump more than $500m into local economy

THE Territory Government has announced the all-clear for an open-cut lithium mine just 35km from Berry Springs, which could pump more than half a billion dollars into the local economy

Core Lithium workers carry out exploration drilling at the Finniss Lithium Project site. Picture: Supplied

THE Territory Government has announced the all-clear for an open cut lithium mine just 35km west of Berry Springs, becoming the first NT mine of its scale to see approval since 2013.

The Finniss Lithium Project will be undertaken by Core Lithium Ltd, and is expected to create more than 200 full-time jobs in the Territory.

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It is also expected to pump half a billion dollars into the Territory’s economy, according to Core Lithium’s managing director Stephen Biggins.

“The Finniss Lithium Project will create more than 200 direct full-time jobs in the Northern Territory, additional employment in South Australia and has the potential to inject more than half a billion dollars into the local economy during its first three years of operation,” he said.

“And Core’s recent investment into the Project is looking to expand that to over 1 billion dollars.

A key site for the Finniss Lithium Project. Picture: Supplied

Project estimates indicate two million tonnes of lithium ore will be extracted from the mine, which is forecast to have a three- to four-year lifespan.

The company said in a statement that it wanted to be ready for the construction phase this year, and considering the mine’s location, there will be on-site work camp, and staff will be locally accommodated.

It will be the first lithium mine in Australia to be approved outside of Western Australia. According to Core Lithium, it is “now the only new, fully permitted lithium project in Australia, and one of the few Australian lithium projects that is not substantially foreign-owned or controlled.”

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The site has also been praised for its proximity to power stations, gas, rail, accommodation, and Darwin Port, which is Australia’s nearest port to Asia.

Lithium is an essential mineral for electronic components, such as batteries, electric vehicles, mobile phones, high-definition screen displays, solar panels, medical equipment and military technology.