Name of the Project
Finniss lithium restart project.

Location
South of Darwin port, in the Northern Territory, Australia.

Project Owner/s
Lithium developer Core Lithium.

Project Description
Stage 1 of the Finniss project has confirmed that Core Lithium is well positioned to be the next lithium producer in Australia. The project has been recognised by the Australian and Northern Territory governments as being significant to the economy, and holds major project status.

The restart study is focused on optimising current infrastructure and minimising complexities during future mining and processing to increase productivity. Work completed to date has reinforced the future opportunity, which exists at the operation. 

An optimised mine plan for the cornerstone BP33 lithium deposit (BP33) is being conducted as part of the restart study. 

BP33 is a large, subvertical pegmatite body with an estimated 350 m of strike and up to 40 m true width. The deposit is high-grade with a current ore reserve of 8.7-million tonnes at a grade of 1.38% lithium oxide. 

The geometry of the orebody lends itself to longitudinal open stopping underground mining.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
To be determined.

Capital Expenditure
Not stated.

Planned Start/End Date
Not stated.

Latest Developments
Core Lithium has secured firm commitments to raise A$120-million through a two-tranche institutional placement, completing the equity component of the funding package for the restart of the project.

The placement, priced at A$0.21 a share, will result in the company's issuing about 571-million new shares and has been strongly supported by existing and new institutional investors, reflecting confidence in the restart strategy and project economics.
The capital raise follows Core’s final investment decision (FID) announced on March 18, alongside a $120-million strategic funding package from partners Glencore, InfraVia and Nebari, placing the company in a fully funded position to restart operations.

Proceeds from the placement will be used alongside the strategic funding package to advance Finniss in line with the FID, including early works, mobilisation, long-lead procurement and the restart of BP33 underground development.

Core MD Paul Brown has said the strong demand for the raising has underscored market support for the company’s strategy.

Core can now advance immediately into mobilisation, early works and development activities to position Finniss for first concentrate production in the September quarter of 2026.

Key Contracts, Suppliers and Consultants
Lucas Total Contract Solutions (openpit mining services); Primero Group (operations and maintenance and engineering, procurement and construction); and CSI Mining Services (contractor).

Contact Details for Project Information
Core Lithium, tel +61 8317 1700 or email info@corelithium.com.au.