PERTH (miningweekly.com) – ASX-listed Core Lithium has been granted a mineral lease for the Grants deposit at its Finniss lithium project, the first ever for a lithium project in the Northern Territory.
The company said that the award of the mineral lease, which is valid for a term of 20 years, was completed three months earlier than anticipated.
“As we continue on our path towards becoming Australia’s first lithium producer outside of Western Australia, it’s important that we don’t let any of these important milestones pass us without reflecting on both their significance and importance for Core,” said Core MD Stephen Biggins.
“With the mineral lease secured for Grants, Core is now well on the way towards becoming the Northern Territory’s first lithium producer.”
A definitive feasibility study on the Grants deposit is expected by the end of the March quarter, with first production at the Finniss lithium project on track for the end of 2019.
A previously completed prefeasibility study into the Finniss project estimated a preproduction capital requirement of A$53.5-million to develop a one-million-tonne-a-year operation producing 225 000 t/y of lithium concentrate.