NT to be home of nations next lithium mine

CORE LITHIUM has confirmed its Finniss Lithium Project 80km west of Darwin is likely to be Australia’s next lithium mine

A spodumene ore stockpile in Western Australia. Core Lithium believe its Finniss Lithium Project will be the next lithium mine operating in Australia. Picture: Colin Murty

CORE LITHIUM has confirmed its Finniss Lithium Project 80km west of Darwin is likely to be Australia’s next lithium mine.

Core managing director Stephen Biggins says the definitive feasibility study (DFS) for the Finniss Lithium Project confirms that the company is well positioned to be Australia’s next lithium producer.

“The DFS confirms Finniss as a simple, but high-value operation, in part due to the minimal spend required on infrastructure thanks to high-grade spodumene reserves in proximity to Darwin port,” he said.

“With the DFS now complete, we are aiming to finalise funding over the coming months so that construction can commence as soon as practicable.

Core Lithium Finniss Project map.

“We are also maintaining our exploration momentum, with the aim of materially increasing the potential mine life of Finniss before we commence first production.”

Core was awarded the Northern Territory’s first lithium mineral lease at the start of the year, signalling the beginning of a new industry for the Territory with the potential to create hundreds of new jobs.

The company has increased mineral resources and ore reserves by over 400 per cent since the start of 2018 and plans to add further resources and reserves to extend project life.

IN OTHER NEWS

Mr Biggins said Core Lithium has had meaningful discussions with customers from all over the globe — China, Korea, and Europe.

“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,’ he said.

“We are hopeful full regulatory approvals will be in place by the second quarter of this year.

“From that we will then be 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.