Make Kitco Your Homepage

Core Lithium moves closer to become new lithium producer

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Construction-ready lithium developer Core Lithium announced yesterday that it has signed a mining services agreement with Lucas Total Contract Solutions for the provision of open pit mining and associated services at the company’s wholly owned Finniss lithium project, located near Darwin in the Northern Territory of Australia.

The company said that Lucas is engaged for the 3-year open pit mining services agreement for the Grants open pit. The Grants open pit is the first mine that will be developed at the Finniss lithium project, with first lithium production expected in late 2022.

The mining contract represents another major step on Core’s path towards
commencing construction at the Finniss project in 2021, the company said in a statement.

Core added it is fully financed, has construction and operation approvals already in place and on-track to commence construction at the Finniss project before the end of 2021, with a final investment decision expected in the coming weeks.

The company expects to ramp-up construction at the Finniss project over the course of 2022, with first spodumene production anticipated in late 2022.

The Finniss lithium project is Australia’s most advanced new lithium project on the ASX and places Core Lithium at the front of the line of new global lithium production, the company said.

Core Lithium pointed out that Finniss has been awarded Australian Federal Government Major Project Status and is also one of the most capital efficient lithium projects and has arguably the best logistics chain to markets of any Australian lithium project.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.