Wedoany.com Report-Apr 4, Core Lithium has announced that its restart study for the Finniss lithium operation is progressing as planned, with completion expected in the second quarter of 2025. The project, located 88km south-west of Darwin Port in the Northern Territory of Australia, spans over 500km². Since suspending operations in January 2024, following a decline in lithium prices, the restart study aims to optimize infrastructure and streamline future activities to boost productivity.

The restart study is refining the mine plan for the high-grade BP33 lithium deposit.

The project invested over A$250m in the Grants and BP33 lithium deposits. The study focuses on refining the mine plan for the high-grade BP33 deposit, characterized by its large, sub-vertical pegmatite body. The deposit holds an ore reserve of 8.7 million tonnes with a 1.38% lithium oxide grade. Independent consultants are working to enhance recovery rates, improve processing efficiency, and expand the dense media separation plant’s capacity.

Core Lithium has terminated remaining operational contracts and moved towards 100% ownership of the site infrastructure. This strategic move aligns with the restart study’s goals of reducing costs and improving efficiency. Demobilization responsibilities and asset acquisitions will proceed on an “as is, where is” basis. Core’s existing cash reserves will cover the $19.5m settlement for these contractual matters, due by July 2025.

The decision to restart operations hinges on the study’s outcomes, market conditions, and the company’s final investment approval. This phase aims to establish a resilient foundation for future operations, ensuring long-term stability and growth for Core Lithium.