Australian miner Core Lithium has announced that the restart study for its Finniss lithium operation is advancing as planned, with completion expected in the June quarter of 2025.
The Finniss lithium operation is located 88km south-west of Darwin Port in the Northern Territory of Australia. The project’s tenement size spans more than 500km².
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Core Lithium suspended activities at the Finniss project in January 2024 following a decline in lithium prices.
The restart study aims to optimise the existing infrastructure and simplify future mining and processing activities to boost productivity at the site.
Core Lithium has invested more than A$250m ($157.6m) in the Grants and BP33 lithium deposits at the project.
The study is aimed at refining the mine plan for the high-grade BP33 lithium deposit, which is characterised by its large, sub-vertical pegmatite body. The BP33 deposit has an ore reserve of 8.7 million tonnes (mt) with a grade of 1.38% lithium oxide.
Independent consultants are aiding in the development of this plan, which leverages the deposit’s geometry conducive to longitudinal open stopping underground mining.
Metallurgical test work and studies are under way to enhance future recoveries, yield and the capacity of the dense media separation plant.
Results so far have identified opportunities to optimise the process flowsheet without requiring the installation of a flotation circuit.
Any decision to restart operations will depend on the outcome of the restart study, market conditions and the company board’s approval for the final investment decision.
In preparation for the study’s completion, Core has terminated its remaining operational contracts at Finniss, moving towards 100% ownership of the site infrastructure.
This strategic move is in line with the restart study’s objectives to lower operating costs, improve efficiency and create a more resilient business structure.
Core will fulfil its demobilisation responsibilities and acquire assets from previous operating contractors on an “as is, where is” basis.
The settlement of these contractual matters, totalling A$19.5m, is due to be finalised by July 2025 and will be covered by Core’s existing cash reserves.
