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.
Quotes from Chief Minister Natasha Fyles:
"The Territory is entering new and exciting opportunities when it comes to renewables and critical minerals.
The Finniss Lithium Project will create jobs for at least 12 years and produce 16 million tonnes of lithium-bearing ore over the life of mine.
This project will provide hundreds of world-class mining jobs for residents in the Top End, which will also support local business and create new opportunities for Territorians."
Quotes from Minister for Mining and Industry Nicole Manison:
"This is a major milestone for both Core and the Northern Territory economy as it races towards a $40 billion economy by 2030.
Our abundance of mineral resources, and a port that is the gateway to Asia, make the Northern Territory the perfect location for game changing projects like this.
Lithium is the way of the future both for cleaner energy and the Territory economy, Core is using local suppliers and creating well-paying jobs for Territorians.
And it's just the beginning, our government has established the Mineral Development Taskforce to investigate and identify policies and strategies to accelerate private investment in mining projects just like this one."
Quotes from Core Lithium Chief Executive Officer Gareth Manderson:
"It is a significant occasion today for Core Lithium as we celebrate our successful transition from lithium explorer to Australia's newest lithium producer and exporter.
With customers secured for the first four years of production, high global demand for lithium, and one of the best logistics chains and supporting infrastructure networks, Core Lithium is well positioned to become a significant player in the global supply chain for lithium battery production.
Core has achieved a positive track record in the Northern Territory and we look forward to continuing this with the support of the community and our locally-based contractors, suppliers and workers.
We are proud of the company's achievements to date and look forward to continuing our journey to become one of Australia's top lithium producers."
Northern Territory Government
