Name of the Project
Finniss lithium project.

Location
South of Darwin port, in the Northern Territory, Australia.

Project Owner/s
Lithium developer Core Lithium.

Project Description
The updated definitive feasibility study for Stage 1 of the Finniss project has confirmed that Core Lithium is well positioned to be the next lithium producer in Australia. The project has been recognised by the Australian and Northern Territory governments as being significant to the economy, and holds major project status.

Finniss has total ore reserves estimated at 7.4-million tonnes grading 1.3% lithium oxide, supporting an eight-year mine life. This is based on using openpit mining methods at the Grants and Hang Gong deposits, and underground mining methods at the Grants, BP33 and Carlton deposits.

Stage 1 of the project will involve mining the high-grade spodumene pegmatite deposit from multiple openpit and underground sources, the transfer of the spodumene pegmatite ore to a run-of-mine pad adjacent to the Grants openpit, water-based dense-medium separation (DMS) to produce a high-quality spodumene (lithium) concentrate product and the transport of the lithium concentrate product to the Port of Darwin by sealed public road for overseas export.

Potential Job Creation
About 250 jobs will be created during the construction and operations of the Finniss project.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of A$221-million and an internal rate of return of 53%, with a two-year payback.

Capital Expenditure
The project has a modest preproduction capital expenditure of A$89-million.

Planned Start/End Date
On-site process plant construction activities are scheduled to start in March 2022, with DMS plant commissioning and first concentrate production anticipated in the fourth quarter of 2022.

Latest Developments
Core Lithium has been granted environmental approval for the BP33 underground mine.

This is the second environmental approval granted by the territory government through its improved regulatory regime under the Environment Protection Act.

The mine has a capital investment value of A$33.79-million and will create about 60 jobs during construction, and 120 to 150 jobs during operations.  

The environmental approval followed a thorough assessment of potentially significant environmental impacts by the Northern Territory Environmental Protection Authority, and is the second to be granted under the Environment Protection Act, and the first for a mine.

The company will now submit a mining management plan to the Department of Industry, Tourism and Trade for assessment, which is targeted for approval by mid-2022.

The approval of such a plan is the last step in the BP33 underground approvals process.

Key Contracts, Suppliers and Consultants
Lucas Total Contract Solutions (openpit mining services); and Primero Group (engineering, procurement and construction).

Contact Details for Project Information
Core lithium, tel +61 8317 1700 or email info@corelithium.com.au.