Second lithium mine approved for NT at Core Lithium’s Finniss prospect

The government has announced plans for a second lithium mine. Find out where it will be.

The Territory government has approved a second lithium mine at Core Lithium’s Finniss prospect.

Mining minister Nicole Manison made the announcement at Darwin Port on Thursday where Core was loading its first shipment of spodumene to China on board the ship St Andrew.

The company’s BP33 underground lithium mine will employ 60 people during construction and another 150 when producing.

Ms Manison said government had approved granting of the mining authorisation and mine management plan for BP33, the final step in the approval process ahead of a potential approval by Core Lithium’s board.

Core Lithium’s Mike Stone with deputy chief minister Nicole Manison at first shipment of Core’s Grant's mine spodumene concentrate being loaded at Darwin Port.

BP33 is about 5km from Core’s Grants open pit, which began production last October. The Grants site is also home to a crusher and dense media separation plant (DMS).

BP33 is expected to have a five-year production life.

Bound for China, the spodumene was produced as part of commissioning the DMS plant. Core has an agreement to supply 600,000 tonnes of concentrate to two major suppliers over the next four years.

This shipment of approximately 5500 tonnes of spodumene concentrate was sold to a long-term customer in lithium product manufacturer Sichuan Yahua via agreements for the sale of a 3500-tonne cargo and a 15,000-tonne cargo announced in March 2023.

Ms Manison said the government would continue to promote mining through implementation of its Mining Taskforce Report, which recommended changing royalties, and the annual $9.5m Resourcing the Territory exploration program.

First direct shipping ore (DSO) Production from Finniss, which went to China in January.

She said the first talking points were critical minerals and lithium on recent visits to Japan and South Korea.

The Territory, through the government’s Resourcing the Territory program which injects $9.5m a year into exploration assistance, is the country’s second highest exploration program behind WA.

“We’ve had $400m of royalties come through the budget this year,” Ms Manison said.

“We’re going about reforming mining royalties and doing investment trips because we need more mines open sooner. The more mining activity we get the more jobs and royalties (come in) and business and the community will benefit.”

Core chief executive Gareth Manderson acknowledged favourable market conditions and the NT government.

Core Lithium DMS plant

“Core Lithium would like to acknowledge the support of the government of the Northern Territory,” he said. “We have been able to commence operations at Finniss in a favourable market when it can deliver benefits for the NT and all its stakeholders due to the professional and efficient processes for approvals.

“The BP33 development approval is another example of this. The first export of Finniss’ spodumene concentrate was delivered safely to port ahead of schedule.

“This is a significant milestone for the Core business, our shareholders and the Finniss Lithium Operation.”

He said with resumption of full mining activities at Grants, Core will produce, transport and load an additional 2000 tonnes onto the St Andrew as part of our sales agreements with Yahua.

“Our focus now is to safely complete commissioning of the DMS plant at Finniss and ramp up our integrated operation.”