The Territory Labor Government and Core Lithium have today announced construction is underway on the $89 million Finniss Lithium Project.
Initial construction works involve road access, site establishment and construction of communications, fuel and water supply infrastructure.
Construction follows the project reaching Final Investment Decision last month, and Core Lithium successfully raising $150 million from institutional investors and shareholders.
The Finniss Lithium Project is an open cut and underground operation located 35 kilometres west of Berry Springs on the Cox Peninsula Road.
It will create 250 jobs for Territorians during construction and operations within an hour’s drive from Darwin. So far more than 84 per cent of available jobs on the project have been awarded to locals.
Mining activity at the Finniss Lithium Project is on track to commence late this year, and it is anticipated more than one million tonnes of lithium-bearing ore will be mined each year over the predicted 7 – ten year life of the project. The first exports will be produced before the end of 2022.
Lithium is considered a critical mineral that is strategic to the global economy, particularly for new and emerging technologies such as batteries, electric vehicles, mobile phones, high-definition screen displays, solar panels, medical equipment and military technology.
The development of the Finniss Lithium Project has the potential to position the NT as a strategically important jurisdiction for the production, processing and manufacturing of critical minerals to the global market.
Quotes from Chief Minister Michael Gunner:
“The Territory is entering a wave of new mining and this is another exciting milestone for Australia’s comeback capital.
“Construction has officially begun on the Finniss Lithium Project, and we will see mining activity begin by the end of this year, with exports to start from 2022.
“This project will provide hundreds of world-class mining jobs for residents in Darwin, Palmerston and the Rural Area, which will also support local business and create new opportunities for Territorians.”
Quotes from Minister for Mining and Industry Nicole Manison:
“This is more great news for Territorians, because construction means jobs, jobs and more jobs for locals.
“The first three years of this modern mining project are expected to inject more than half a billion dollars into the local economy.
“The Territory Labor Government is delivering on its promise to make the Territory a world-class hub for resources and critical minerals.”
Quotes from Core Lithium Managing Director Stephen Biggins:
“At a time when Australia is firmly focused on both the generation of renewable resources and future job prospects for the regions, Core is incredibly proud of this milestone we’ve reached in the Northern Territory today.
“This next phase of the Company will be transformational, and we are excited to see construction milestones met at Finniss over the coming 12 months, ahead of first production before the end of 2022.
“We also look forward to engaging the local workforce in the NT, with more than 84 per cent of available jobs at Finniss already appointed to locals.”
