PERTH (miningweekly.com) – Lithium developer Core Lithium has officially opened its Finniss lithium mine, in the Northern Territory, and has awarded a major contract.

The Stage 1 Finniss project, comprising an openpit operation and underground operation, will require an initial capital investment of A$89-million to support yearly lithium production of 175 000 t/y from a one-million-tonne-a-year plant.

Core said on Monday that the project is on target to export direct shipping ore (DSO) lithium by the end of this year, following the first sale of spodumene DSO product announced on October 3.

Core will employ directly and indirectly a workforce of approximately 300 personnel during the life of the mine. Currently, over 80% contractor and direct employees live in Darwin and work at Finniss.

“Core is bringing production online at a time of high lithium prices, strong global demand and constrained supply. The Core team has done a fantastic job quickly transitioning from discovery and exploration to construction and shortly supply of high-grade lithium concentrate to a global market in just six years,” said CEO Gareth Manderson.

“The first four years of production from the Finniss lithium project is already secured with approximately 80% sold to offtake partners, including Ganfeng Lithium and Sichuan Yahua who have provided tremendous support during our development phase.”

Meanwhile, ASX-listed NRW Holdings on Monday announced that its wholly owned subsidiary Primero Group had been awarded a long-term contract for the operations and maintenance at the Finniss processing plant and related infrastructure.

The A$60-million contract will run for an initial five-year term, with the option to extend, and followed on from the current contract in execution for the engineering, procurement and construction contract.

Project execution will start immediately.