NRW Holdings (ASX:NWH) has secured the surface mining contract at Core Lithium’s (ASX:CXO) Finniss Lithium Operation, 88km south of the Port of Darwin.
NRW will mobilise immediately, with open pit mining and ore production to restart as early as May 2026.
The Grants deposit is estimated to contain about 784 kilo tonnes of ore and a further 134kt of spodumene concentrate.
Ore will be processed and hauled during the September 2026 quarter. First spodumene concentrate will be shipped early in the December 2026 quarter. Further shipments are expected in the following calendar year.
Underground box cut and civil infrastructure site works were underway at the time of publication. Production will also ramp up in different stages to generate cash as early as possible.
Core Lithium previously approved a final investment decision. Initial capital costs are expected to be minimal due to a “near-term” production pathway and “rapid” processing plant feed source that allows for an accelerated production timeline.
“Grants provides a low-risk, near-term source of ore using existing infrastructure, enabling a rapid and capital-efficient pathway back into production,” Managing Director Paul Brown says.
“With final investment decision approval and funding now in place, our focus is firmly on delivery. This contract positions Finniss to deliver the first spodumene concentrate in the December quarter.”
Core Lithium now plans to finalise more contracts soon.
Core Lithium is an Australian hard-rock lithium company that mainly has assets in the Northern Territory.
Write to Richard Szabo at Mining.com.au
Images: Core Lithium
