Core Lithium secures A$274M underground mining contract
2026-05-14 15:07:06 [Print]
Core Lithium has awarded a A$274 million, three-year underground mining contract to Develop Global Limited for the BP33 deposit at its Finniss Lithium Operation, following a competitive tender. The agreement includes an option for a two-year extension. BP33 is set to be the operation's production backbone, supplying 88% of the ore feed over the first decade from a long-life, high-grade pegmatite body with more than ten years of mine life and substantial exploration upside. Mobilisation is targeted for June 2026, with decline development to begin in July and first spodumene concentrate production expected in the December quarter of 2026.
The Finniss operation sits on the Cox Peninsula, roughly 88 kilometres by sealed road from Darwin Port, giving Core a strategic export advantage thanks to its proximity to Asian lithium conversion markets.
The Finniss operation sits on the Cox Peninsula, roughly 88 kilometres by sealed road from Darwin Port, giving Core a strategic export advantage thanks to its proximity to Asian lithium conversion markets.
Spodumene Li2O 5%min In port China
Unit:RMB/dmtu
China lithium cobaltate producers' inventory statistics by province by month
Unit: mt
