Major milestone for Territory’s first lithium exports
Core Lithium has achieved a key milestone with the opening of the Finniss Lithium mine, right here in the Northern Territory.
The $89 million open cut lithium mine is the first new mine to commence operations in the Northern Territory in more than a decade and is stimulating interest, investment and growth in our rapidly expanding critical minerals sector.
First exports from Core Lithium’s Finniss Lithium Project are on track to be shipped by the end of this year, an extraordinary feat given construction only began in October 2021.
Mining on the project has commenced, while construction and commissioning of the concentrator is on track to produce the first concentrate in the first half of 2023.
Core has binding offtake agreements with Ganfeng Lithium and Sichuan Yahua to supply 75,000 tonnes per annum of lithium concentrate to each company over four years, as well as a binding Term Sheet with Tesla for four years.
It’s estimated the Finniss Lithium Project will mine 16 million tonnes of lithium-bearing ore over the life of mine, which is predicted to be at least 12 years.
Construction on the site, which is located along Cox Peninsula Road will be completed by the end of the year and Core expects to employ about 300 people, including contractors, over the life of the Finniss operations.
Core Lithium has also engaged the Kenbi Rangers, based at Wagait Beach, to deliver a range of services on site, including tree relocation, weed management, cultural heritage monitoring, water controls and silt fencing.
The Finniss Lithium Project is the Northern Territory’s first lithium mine, and it will provide the globe with high-quality lithium suitable for batteries used to power electric vehicles and renewable energy storage.