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Core Lithium (ASX:CXO) - Managing Director, Stephen Biggins
Managing Director, Stephen Biggins
Source: Daily Mercury
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  • Core Lithium’s (CXO) Finniss Lithium Project in the Northern Territory has been awarded Major Project Status (MPS) by the Australian Federal Government
  • The award was announced by the Hon Karen Andrews MP, Minister for Industry, Science and Technology, and the Hon Keith Pitt MP, Minister for Resources, Water and Northern Australia
  • Extending over a period of three years, MPS will provide Finniss with extra support from the Major Projects Facilitation Agency
  • Construction at the project is expected to begin in the second half of 2021, subject to a Final Investment Decision
  • Core Lithium shares are up 4.55 per cent, trading at 23 cents each

Core Lithium’s (CXO) Finniss Lithium Project, located near Darwin in the Northern Territory, has been awarded Major Project Status (MPS) by the Australian Federal Government.

Announced by the Hon Karen Andrews MP, Minister for Industry, Science and Technology, and the Hon Keith Pitt MP, Minister for Resources, Water and Northern Australia, the award recognises the strategic significance of projects to Australia.

Extending over a three-year period, it will provide extra support from the Major Projects Facilitation Agency, including a single-entry point for Australian Government approvals, project support and coordination with state and territory approvals.

Core Lithium Managing Director Stephen Biggins said the award is a major milestone for the company, which is aiming to enter production this year.

“When in production, the Finniss Lithium Project will be the first Australian lithium-producing mine outside of Western Australia, with our proximity to Darwin Port – the country’s nearest port to Asia – serving as a direct route for our lithium to be processed and delivered to end users worldwide,” Stephen commented.

“This opens up a pathway for a critical minerals hub to be established in Northern Australia, along with the potential for significant associated local modern manufacturing opportunities,” he added.

With an updated Definitive Feasibility Study on Finniss due in the first half of 2021, ahead of a final investment decision, Core is on track to begin construction before the end of the year.

Core Lithium shares are up 4.55 per cent, trading at 23 cents 10:55 am AEDT.

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