Core Lithium Limited has approved a $45 million to $50 million expenditure for early works at the BP33 underground mine at the Finiss Lithium Project.
Core Lithium aims to develop a box-cut and preliminary site establishment at Finniss via several satellite deposits within trucking distance of the Dense Media Separation (DMS) plant located at the Grants Mine Operation.
Due to the mine’s scale, the recent grant of Northern Territory (NT) Government approvals, and the study work conducted to date, BP33 has been selected as the next potential mine to be developed.
Early works for the BP33 underground have been approved, including the covered box cut, improved access, and some associated surface works for water management.
Following the completion of early works and subject to a positive final investment decision and board approval to proceed with mining operations, subsequent work required before BP33 ore production commences is expected to include decline development, early stope development, ventilation infrastructure, water management and power infrastructure, and further civil site works.
The contract for the early works of civil construction has been awarded to Northern Australian Civil, a Darwin-based contractor that specialises in box-cut development.
According to Core Lithium CEO Gareth Manderson, the company is pleased to announce the positive investment decision that allows initial works to be undertaken while the feasibility study is completed for BP33.
“Core would like to acknowledge the support of the Government of the Northern Territory. We have been able to bring on the Finniss operations at a time in the market when it can deliver benefits for the NT and all its stakeholders due to the professional and efficient processes for approvals,” Manderson added.
“We will continue focus on the safe ramp-up of the Grants open pit and concentrate production through the DMS plant,” he said.
