Name of the Project
Finniss lithium restart project.

Location
About 88 km south of Darwin, in the Northern Territory, Australia.

Project Owner/s
Lithium developer Core Lithium.

Project Description
The Finniss operation produces spodumene concentrate and holds major project status from the Australian and Northern Territory governments.

The staged restart uses ore from the Grants openpit operation as near-term plant feed while the BP33 underground mine is developed as the longer-term production source.

The upgraded dense-media-separation (DMS) processing plant is expected to have throughput capacity of 1.2-million tonnes a year, about 20% above its previous capacity.

BP33 is a large, subvertical pegmatite body with an estimated 350 m of strike and up to 40 m true width. The deposit is high-grade with a current ore reserve of 8.7-million tonnes at a grade of 1.38% lithium oxide.

The geometry of the orebody lends itself to longitudinal open stoping underground mining.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
To be determined.

Capital Expenditure
Not stated.

Planned Start/End Date
First spodumene concentrate was produced in the September quarter of 2026. The first shipment of newly produced concentrate is targeted for the December quarter of 2026.

Latest Developments
Core Lithium produced first spodumene concentrate from the recommissioned Finniss processing plant on September 8, 2026, within six months of the March 2026 final investment decision and in line with its September-quarter target. The restart was delivered on schedule and within budget.

Mining at the Grants openpit operation restarted in May 2026 and crushing restarted in August to build ore stockpiles. Plant commissioning and optimisation are continuing as Core works towards reliable and sustained production, while BP33 underground development proceeds in parallel.

Plant upgrades include screen refurbishment, improvements to the rolls crusher and tailings thickener circuits, changes to the ferrosilicon distribution system, and the consolidation of crushing and DMS operations into one control room. The upgrades are expected to improve mineral liberation and recovery and increase plant throughput capacity by about 20% to 1.2-million tonnes a year.

The Finniss logistics chain is operational and Core is targeting the first shipment of newly produced spodumene concentrate in the December quarter of 2026.

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

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