Australia

Finniss (Grants) Operation

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Categories

Overview

Mine TypeOpen Pit
StatusTemporary Suspension
Commodities
  • Lithium
  • Spodumene
Mining Method
  • Truck & Shovel / Loader
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Mine Life... Lock
SnapshotThe Grants Operation is an open cut mine, and the starter operation at the Finniss Lithium Operation. BP33 is the second proposed mine.

Construction of the Finniss Operations was completed in early 2023 and the first concentrates produced in February 2023.

January 5, 2024 - In the light of the significant decline in spodumene concentrate pricing, Finniss Operations Core has decided to continue processing of established ore stockpiles and temporarily suspend mining operations in the Grants Open Pit. At 31 December 2023, approximately 280,000t of ore stockpiles were available for processing allowing for sufficient stocks to feed the concentrator until mid-2024 without any further mining. The Grants pit will be maintained to allow an orderly ramp up when market conditions improve.

As of May 6, Core has continued to maintain the site to enable rapid restart in the 2024–25 financial year (FY25), and is looking to finalise the mine plane and contracting strategy there.
Related Asset

Owners

SourceSource
CompanyInterestOwnership
Core Lithium Ltd. (operator) 100 % Direct
Core Lithium is the 100% owner and operator of the Finniss Lithium Operation.

Contractors

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Deposit type

  • Pegmatite

Summary:

The Finniss Lithium Project (Grants and BP33 Lithium Deposits) is hosted within a rare element pegmatite that is a member of the Bynoe Pegmatite Field. The Bynoe Pegmatite Field is situated 15km south of Darwin and extends for up to 70km in length and 15 km in width. Over 100 pegmatites are known within clustered groups or as single bodies. Individual pegmatites vary in size from a few metres wide and tens of metres long up to larger bodies tens of metres wide and hundreds of metres long.

The pegmatites are predominantly hosted within the early Proterozoic metasedimentary lithologies of the Burrell Creek Formation and are usually conformable to the regional schistosity. The Bynoe pegmatites are classified as LCT (Lithium-Caesium-Tantalum) type and are believed to have been derived from the ~ 1845 Ma S-Type Two Sisters Granite which outcrops to the west.

Fresh pegmatite is composed of coarse spodumene, quartz, albite, microcline and muscovite (in decreasing order of abundance). Spodumene, a lithium-bearing pyroxene (LiAl(SiO3)2), is the predominant lithium- bearing phase and displays a diagnostic red- pink UV fluorescence. The pegmatite is not strongly zoned, apart from a thin (1-2m) quartz-mica-albitewall facies and some barren internal quartz veins.

The geological interpretation is considered robust due to the nature of the mineralisation. The mineralisation is hosted within the pegmatite. The locations of the hangingwall and footwall of the pegmatite intrusion are well understood with drilling which penetrates both contacts.

The Finniss pegmatites have intruded early Proterozoic shales, siltstones and schists of the Burrell Creek Formation which lies on the northwest margin of the Pine Creek Geosyncline. To the south and west are the granitoid plutons and pegmatitic granite stocks of the Litchfield Complex. The source of the fluids that have formed the intruding pegmatites is generally accepted as being the Two Sisters Granite to the west of the belt, and which probably underlies the entire area at depths of 5-10 km.

The pegmatite is considered to be continuous over the length of the deposit. It thins and pinches out to the north and south. The mineralisation terminates approximately 40 m from the northern extent of the modelled pegmatite. A non-mineralised wall rock phase of 1-2m thickness is often present. A single grade domain has been identified and estimated using a hard boundary.

The lithium is hosted within a 170m long section of mineralised pegmatite which strikes NE and averages 20-30m in true width.

The pegmatite is sub-vertical to steeply east dipping and has been intersected at a depth of approximately 240m below surface.

Whilst continuous, the pegmatite body does appear to narrow to the north but remains open to the south. The pegmatite is deeply weathered to depths of approximately 50m below surface.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

Milling equipment has not been reported.

Processing

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Production

The first concentrate was produced in February 2023.
CommodityProductUnits20242023
Spodumene Concentrate kt  ....  Subscribe  ....  Subscribe
Li2O Fines t  ....  Subscribe  ....  Subscribe
^ Guidance / Forecast.

Production Costs

Commodity20242023
C1 cash costs Spodumene  ....  Subscribe  ....  Subscribe
^ Guidance / Forecast.
** Net of By-Product.

Financials

Units2023
Capital expenditures M AUD  ....  Subscribe
Revenue M AUD  ....  Subscribe
Gross profit M AUD  ....  Subscribe
After-tax Income M AUD  ....  Subscribe
EBIT M AUD  ....  Subscribe
EBITDA M AUD  ....  Subscribe
Operating Cash Flow M AUD  ....  Subscribe

Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Dec 13, 2023
....................... Subscription required ....................... Subscription required Subscription required Dec 13, 2023
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....................... Subscription required ....................... Subscription required Subscription required Dec 13, 2023
....................... Subscription required ....................... Subscription required Subscription required Dec 13, 2023

Total WorkforceYear
...... Subscription required 2023

Aerial view:

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