NT News

Green light for lithium

- CAMDEN SMITH

THE last hurdle in the Finniss Lithium project has been cleared, with the board of developer Core ticking off on the Final Investment Decision.

The $100m lithium project, about 80km south of Darwin on the Cox Peninsula, will be the first new mine opened in the Northern Territory for more than a decade and the Territory’s first lithium mine.

The signing means work on the Finniss Lithium project will be able to commence in weeks and the mine life is expected to be at least 10 years.

Core Lithium managing director Stephen Biggins said the signing culminated more than five years of hard work. “Final Investment Decision places Core firmly at the front of the line of new global lithium production just at the right time, as lithium demand and prices are increasing rapidly.

“The project and FID are underpinne­d by high-grade lithium deposits that have the potential to support long-term lithium supply from Northern Australia.

“We’re looking to start execution of the project almost immediatel­y, with equipment being mobilised to (the) site and we’re expecting to undertake activity over the next few weeks.”

The first lithium is expected to exported out of the Territory for processing in late 2022.

Mr Biggins said the Territory would be a key contributo­r to the lithium battery supply chain and the ongoing evolution of no-emission vehicles.

Mining and Industry Minister Nicole Manison said the signing was great news.

“The Territory Labor government is delivering on its promise to make the Territory a world-class hub for resources and critical minerals, which is cementing our position as Australia’s comeback capital,” she said.

“This is going to mean 250 local jobs here right here in the Greater Darwin area.

“We’re looking at around eight to 10 years of mining life here but there is great potential for that to grow beyond that 10 years.

“We’re entering the new, modern mining area here in the Northern Territory and we have the materials here the world needs and the world wants.”

Lithium is the core element in batteries used to power electric vehicles and other renewable energy sources.

Core says the Finniss Project boasts world-class, high-grade, high-quality lithium.

 ?? Picture: Roy Van der Vegt ?? Stephen Biggins, from Core Lithium.
Picture: Roy Van der Vegt Stephen Biggins, from Core Lithium.

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