Core Lithium commences early works on BP33 mine project

Core Lithium has commenced early works on the BP33 underground mine project, which is part of the expansion of its Finnis Lithium Operations in the Northern Territory. 

This announcement follows the granting of mining approval for the second Finnis mine earlier this year. 

The early works program is being undertaken by local Territory-based contractor Northern Australia Civil (NAC). The program of works includes excavation and construction of a covered box cut that will provide a structurally stable portal where the decline to the BP33 orebody can be built. 

Surface works such as the establishment of water management facilities and associated infrastructure will be carried out as well. 

Core Lithium is also progressing a detailed feasibility study that will incorporate the bigger BP33 Mineral Resource that was announced in April of this year, and include operating experience as well as learnings from the pit and plant. Additional mining, metallurgical and geotechnical studies will also be included in the detailed feasibility study. 

Once early works and the feasibility study are completed, a final investment decision for the BP33 project is expected to be announced in the first quarter of CY 2024. 

“The Grants mine has seen us get into production as a lithium miner. The larger BP33 deposit now has the potential to be the cornerstone asset for Core Lithium. 

“Commencing these $45-50 million of early site works to establish the box cut allows the Company to work at pace and stay on the critical path for developing the BP33 underground mine while updating the feasibility study in parallel. 

“This approach will allow the Company to be in the best position to move forward should a final positive investment decision be received,” Core Lithium Chief Executive Gareth Manderson said. 

The BP33 project is located on the Cox Peninsula, about 33 kilometres west of Berry Springs. The project is proposed to include an underground lithium mine and associated site infrastructure, a water supply dam, sediment ponds, a run of mine pad, waste rock landforms, a storage and maintenance area, internal access roads and drainage infrastructure 

This project is expected to employ up to 60 people during the construction phase and about 150 people once operational. 

Source: Core Lithium (1, 2); Australian Mining; Northern Territory Environmental Protection Authority