Name of the Project
Finniss lithium project.

Location
The project is located near Darwin, in the Northern Territory, Australia.

Project Owner/s
Core Lithium.

Project Description
A definitive feasibility study (DFS) has confirmed that Core is well positioned to be the next lithium producer in Australia.

The DFS has focused on the development of the ore reserves in the Grants and BP33 orebodies over an initial 3.5-year period.

The project comprises a low-risk, openpit mining operation and the construction of a simple one-million-tonne-a-year dense-medium separation plant to produce up to 180 000 t/y of high-quality lithium concentrate with robust margins.

Scheduled production is estimated at 481 018 t of concentrate.

Potential Job Creation
The first three years of the project are expected to create about 200 jobs.

Net Present Value/Internal Rate of Return
The project has a high pretax nominal net present value of A$114-million and an internal rate of return of 80%, with a payback of 1.5 years.

Capital Expenditure
The project is estimated at A$73-million, including preproduction capital costs for Grants.

Planned Start/End Date
Construction is planned to start in the second half of 2019, ramping up to commercial production in the first half of 2020.

Latest Developments
The Northern Territory government has approved Core Lithium’s mine management plan for its proposed Finniss lithium project.

This is the first ever lithium mine to be approved outside of Western Australia, and is the first new mine of significant scale to be approved in the Northern Territory since 2013.

With project approvals now in place, and mine life likely to double or even triple as the company updates the feasibility study by mid-2020, Core’s Finniss project is positioned at the front-end of the line of new global lithium supply as electric vehicle manufacture recovers after Covid-19.

Core is aiming to complete offtake arrangements and have the project construction ready in 2020, ahead of sourcing debt and equity to achieve financial close.

Key Contracts and Suppliers
None stated.

Contact Details for Project Information
Core Lithium, tel +61 8 8317 1700 or email info@corelithium.com.au.