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.

The mine will support yearly lithium production of 175 000 t/y from a one-million-tonne-a-year plant.

Potential Job Creation
Core will employ a workforce of about 300 personnel during the life of the mine. Currently, more than 80% contractor and direct employees live in Darwin and work at Finniss.

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
Not stated.

Planned Start/End Date
The project is on target to export direct shipping ore (DSO) lithium by the end of 2022, following the first sale of spodumene DSO product announced on October 3.

Latest Developments
Core Lithium has officially launched its Finniss lithium mine and has awarded a major contract to ASX-listed NRW Holdings’ wholly owned subsidiary Primero Group for the operations and maintenance at the processing plant and related infrastructure.

The A$60-million contract will run for an initial five-year term, with the option to extend, and follows on from the current contract under way for the engineering, procurement and construction (EPC) contract.

The project will start immediately.

Key Contracts, Suppliers and Consultants
Lucas Total Contract Solutions (openpit mining services); Primero Group (operations and maintenance and EPC) and CSI Mining Services (contractor).

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