Core Lithium Delivers Restart Study for Finniss Project, Targets 20-Year Mine Life
Konrad Forrest
14 May 2025 | Perth, WA – Core Lithium (ASX:CXO) has released a Restart Study for its flagship Finniss Lithium Project in the Northern Territory, confirming its transformation into a long-life, low-cost underground mining operation with the potential to produce high-quality spodumene concentrate for the next two decades.
The updated study outlines a 20-year mine life, underpinned by 10.73Mt of Ore Reserves at an average grade of 1.29% Li₂O, and forecasts average production of ~205ktpa SC6 equivalent.
Key Highlights:
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All mining to shift to underground methods at BP33 and Grants, improving ore quality and reducing surface impact
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Operating costs reduced by 23%, with mining costs down 40% to $63–72/t and processing costs cut by 33%
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Processing capacity increased to 1.2Mtpa, enabling higher throughput and efficiency
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Capital requirement of $175–200 million, with Core holding $30 million in cash and no debt
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Strong infrastructure and export readiness via the Port of Darwin
CEO Paul Brown said:
“The Restart Study firmly positions Finniss as a competitive, scalable lithium operation capable of weathering price cycles and delivering sustainable value.”
Core’s updated strategy also highlights exploration upside at Blackbeard and BP33 Deeps, along with potential throughput expansions.