Develop Global (ASX:DVP) has been awarded a $274 million contract to conduct underground development and production activities at the Finniss Lithium Project of Core Lithium (ASX:CXO) in the Northern Territory.
The contract holds a three-year tenure, with an option for an additional two-year extension, and is expected to generate steady-state annual revenue of $120 million.
Works include surface infrastructure and portal establishment at the BP33 mine, along with the associated underground mining activities.
The company will begin mobilising crews and equipment in June 2026, ahead of underground mining scheduled to begin in July.
Develop Managing Director Bill Beament says the company is delighted to secure this contract, as it “reflects the skills and depth” of its mining services team.
“We are also very pleased to add a lithium project of this quality and scale to our mining services portfolio, given its long mine life and strong fundamentals,” Beament says.
“We are currently preparing tenders for mining services opportunities and receiving extremely positive feedback from potential clients about the strength of our team and our approach to mining and contracting.
“This is against a backdrop of highly favourable conditions for mining services, with particularly strong demand for experienced underground teams like ours.”
Core Lithium Managing Director Paul Brown says it awarded the contract to Develop due to its “technical capability, underground mining experience, understanding of the BP33 ground conditions, and alignment with Core’s productivity and delivery targets”.
The BP33 deposit is a lithium orebody central to the Finniss Operation, expected to provide a long-life, low-cost underground production base with more than 10 years of mine life and significant exploration upside.
The Finniss Lithium Operation is situated on the Cox Peninsula, 88km southwest by sealed road from Darwin Port, Northern Territory.
Write to Maddison Elliott at Mining.com.au
Images: Develop Global
