Name of the Project
Finniss lithium project.

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

Project Owner/s
ASX-listed 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 April 2019 DFS focused on the development of ore reserves within the first two orebodies – Grants and BP33 – over an initial 3.5-year period.

Project comprises a low-risk, openpit mining operation and dense-media separation processing up to 180 000 t/y of high-quality lithium concentrate with robust margins.

The project will have a design throughput of one-million tonnes a year and scheduled production of 481 018 t.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 10% discount rate, of A$114-million and an internal rate of return of 80%.

Capital Expenditure
Startup capital expenditure is estimated at A$73-million.

Planned Start/End Date
An updated definitive feasibility study for the Finniss project is due in the first half of 2021, ahead of a final investment decision.

Latest Developments
Battery-grade lithium hydroxide has been produced from a spodumene mineral concentrate sample from the Finniss project.

The scoping-level testwork has demonstrated that the conventional direct flowsheet be applied to the processing of the mineral concentrates from Finniss to produce battery-grade lithium hydroxide monohydrate.

The company is now considering the downstream value potential for the project, given its synergies with the adjacent Middle-Arm industrial infrastructure near Darwin, as well as the alignment with Australia’s Modern Manufacturing Strategy and the rapid expansion of global battery lithium supply chains to meet increasing demand.

A final investment decision on the Finniss project is due in the third quarter of 2021, and Core is completing concentrate DFSs and finalising offtake negotiations.

Key Contracts, Suppliers and Consultants
Primero, Qube and Lucas TCS (key contractors).

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