Core approves A$50m spend for early works at BP33

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Photo by Bloomberg

19th May 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia


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PERTH ( – The board of lithium miner Core Lithium has approved a A$45-million to A$50-million spend for early works at the BP33 underground mine, in the Northern Territory.

A final investment decision (FID) on the underground operation is expected by the end of the first quarter of 2024, and Core on Friday told shareholders that the final project scope and capital cost estimates for BP33 would now be determined using the recently increased mineral resource.

“We are pleased to announce this positive, incremental investment decision that allows initial works to be undertaken while the feasibility study is completed for BP33, our potential next mine at the Finniss lithium operation,” said Core CEO Gareth Manderson.

Early works for BP33 underground will include the covered box cut, improved access and some associated surface works for water management. Subject to potential early-wet-season-modelled geotechnical and groundwater impacts, this work is expected to be complete by the end of the first quarter of 2024. This approach allows a detailed feasibility study to be completed in parallel and enable mine decline development to begin soon after a positive FID.

“We will continue focus on the safe ramp-up of the Grants openpit and concentrate production through the dense media separation (DMS) plant. We will aim to provide final project expenditure and other project metrics once we have incorporated the increased resources into our studies by the first quarter of 2024,” said Manderson.

BP33 is located within trucking distance of the Grants openpit, crusher and DMS plant and has a current mineral resource of 10.1-million tonnes at 1.48% lithium oxide.

Edited by Creamer Media Reporter


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