The Australian Government has awarded Major Project Status (MPS) for the Core Lithium Limited’s wholly-owned Finniss Lithium Project, located near Darwin in the Northern Territory.
The Finniss Lithium Project, located just south of Darwin Port, has JORC 2012 compliant Mineral Resources of 9.63 million tonnes (Mt) at 1.4 per cent lithium oxide (Li20).
The project lies within one of the most prospective areas for lithium in the NT, the Bynoe Pegmatite Field, and covers over 500 square kilometres of granted tenements.
With an updated Definitive Feasibility Study (DFS) on Finniss due in the first half of 2021 ahead of a Final Investment Decision (FID), Core is on track to commence construction at the Finniss Project before the end of the year.
Core Lithium’s Managing Director, Stephen Biggins, said the award for MPS for Finniss is another major milestone both for the company and the Federal Government, as they strive to enter the construction phase in 2021, subject to an FID.
“When in production, the Finniss Lithium Project will be the first Australian lithium producing mine outside of Western Australia, with our proximity to Darwin Port – the country’s nearest port to Asia – serving as a direct route for our lithium to be processed and delivered to end-users worldwide,” Mr Biggins said.
“This opens up a pathway for a critical minerals hub to be established in Northern Australia, along with the potential for significant associated local modern manufacturing opportunities.”
MPS is the Federal Government’s recognition of the strategic significance of a project to Australia. It provides companies with extra support from the Major Projects Facilitation Agency, including a single-entry point for Australian Government approvals, project support and coordination with state and territory approvals.
