Name of the Project
Finniss lithium restart project.

Location
South of Darwin port, in the Northern Territory, Australia.

Project Owner/s
Lithium developer Core Lithium.

Project Description
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.

The restart study is focused on optimising current infrastructure and minimising complexities during future mining and processing to increase productivity. Work completed to date has reinforced the future opportunity, which exists at the operation. 

An optimised mine plan for the cornerstone BP33 lithium deposit (BP33) is being conducted as part of the restart study. 

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 stopping 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
Not stated.

Latest Developments
Core Lithium is advancing its restart study for the Finniss lithium operation, with promising results pointing to opportunities to enhance productivity and reduce operating costs. 

The study, on track for completion in the June 2025 quarter, is focusing on optimising the existing infrastructure and improving mining and processing efficiency to streamline future operations.

As part of the study, Core has successfully concluded the last remaining operating contracts from the previous mining period, giving the company full ownership of the Finniss infrastructure. This is expected to lower care and maintenance costs and supports a revised operational model aimed at enhancing productivity.

Core has committed to A$19.5-million in payments over the next four months to settle these transactions, which align with the company’s broader goals to reduce costs and increase operational resilience. With full control over its infrastructure, Core is positioned to optimise future operations at Finniss, including the BP33 lithium deposit.

The restart study also includes metallurgical testwork to improve recoveries and processing capacity at the dense-media separation plant, with the potential for optimising the plant without needing additional flotation circuits. 

The final restart decision will depend on the study’s findings, market conditions and board approval for the final investment decision.  

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 8317 1700 or email info@corelithium.com.au.