Core Lithium is set to mark 2019 as the year it becomes the first Australian lithium producer outside of Western Australia, through development of its Finniss Lithium Project in the Northern Territory.
The Company plans to mine and produce high-quality lithium concentrate from the Finniss Project, which comprises over 500km2 of granted tenements over the Bynoe Pegmatite Field.
A Pre-Feasibility Study on Finniss was completed in mid-2018 and Core will release a Definitive Feasibility Study by the end of April, whilst also finalising regulatory approvals, financing and internal approvals before commencing construction later this year, ahead of targeted first production by the end of 2019.
A major milestone was achieved in January this year, when the Northern Territory Government issued its first ever lithium Mineral Lease to Core.
The Finniss Project has substantial infrastructure advantages supporting its development; being close to grid power, gas and rail and within easy trucking distance by sealed road to Darwin Port – Australia’s nearest port to Asia.
The Finniss Project has a global Mineral Resource Estimate of 8.85 million tonnes at a grading of 1.3% Li20, and the company expects it will grow beyond 10Mt before first production is achieved.
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Lithium has become a staple ingredient of the rapidly emerging renewable technologies industry to fight climate change, with its ability to store large amounts of energy making it a key component in the development of rechargeable and energy storage batteries that, in turn, form the centrepiece of the electric vehicles and solar panels markets.
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