Core Lithium to make final investment decision on Australian Finniss project by year's end

by Margaret Lau

Core Lithium said the project's proximity to Darwin Port and capital city infrastructure supports lower operating and capital costs. Image: Core Lithium

Australia’s Core Lithium said today it aims to make a final investment decision to start construction on its Finniss Lithium Project, in the country's Northern Territory (NT), before the end of this year.

The lithium developer said studies indicated 10-years of production of high-quality lithium from its wholly-owned Finniss project – from which the company expects to start delivery of spodumene concentrate to customers in 2022.

Core said it is also receiving "accelerating interest" from global players in the electric vehicle batteries raw materials supply chain.

The company's capital expenditure forecast for Finniss is AUD 89m (£47.5m), targeting an average production of 173,000 tonnes per annum of high-quality lithium concentrate.

Support

Finniss hosts JORC 2012 compliant mineral resources of 15 million tonnes at 1.3% lithium oxide.

The flagship Finniss Project, south of Darwin Port, lies within one of the most prospective areas for lithium in the NT – the Bynoe Pegmatite Field – and covers more than 500 sq km of granted tenements.

Australia’s federal government awarded ‘major project status’ for the project last March. Companies awarded major project status are able to unlock extra support from the government and federal agencies.

Earlier this year, the federal government awarded major project status to plans by EcoGraf to build a battery graphite production plant in Western Australia – a move aimed at boosting investment in the country’s developing battery industry.