Core Lithium has confirmed its Finniss lithium mine in the Northern Territory is poised for a quick restart as soon as viable.
Speaking at the Diggers and Dealers mining forum in Kalgoorlie, Core chief executive officer Paul Brown described Finniss as “a proven operation which can be rapidly restarted for minimal capital in the right market conditions”.
Core paused mining at Finniss in early 2024 in response to softening lithium prices. Brown joined the Core team in May and is determined to see Finniss thrive again.
“Looking ahead, we intend to put Finniss in a position where it can restart as a longer life lower cost operation and restore shareholder value through sensible exploration and potential corporate opportunities,” Brown previously said.
Since operations were suspended, Core has focused on optimising the asset, in an aim to keep it restart-ready. The last ore stockpiles were processed in June.
In his presentation, Brown said targeting resource growth at Finniss over the next 12 months will be a key pillar of this optimisation.
“Opportunities to build resources within trucking distance of the Finniss processing plant are the highest priority in FY25,” Brown said.
Brown said a detailed restart plan being is being undertaken including a thorough review of future cost structures and the project’s operating model.
This will involve targeted investment in exploration aiming to enhance future lithium operations and build value from the wider tenement holdings, as Brown said there has been limited exploration conducted outside of Finniss in the last three years.
The company is already expanding its exploration footprint across the NT, with drilling already underway at its Shoobridge project, making Core the first company to explore and drill for lithium in the area.
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