Emerging Australian lithium developer, Core Lithium Ltd (ASX: CXO) today announced the granting of a Mineral Lease for the high-grade BP33 lithium deposit, a key component of the Company’s 100%-owned Finniss Lithium project located near Darwin in the Northern Territory.
Core Lithium has been granted a Mineral Lease (ML) for the BP33 Lithium Deposit.
The BP33 ML is the second lithium Mineral Lease in the Northern Territory awarded to Core, after being awarded the Grants Deposit Mineral Lease in 2019.
Another key milestone achieved towards being shovel-ready on Australia’s most advanced new lithium project.
Development tenure locked in for mining and supporting project infrastructure.
Core has received and accepted the NT Government’s offer of a Mineral Lease for BP33 for a term of 25 years.
The award of the Mineral Lease for BP33 follows the receipt of the first ever Mineral Lease that the NT Government had awarded for a lithium project, for Core’s Grants Deposit – another key component of the Finniss Lithium Project – in 2019.
Commenting on the receipt of the Mineral Lease at BP33, Core’s Managing Director, Stephen Biggins, said it was a significant milestone in the Company’s history.
“This additional mining lease approval from the Northern Territory Government is well timed as Core continues to advance the Finniss Lithium Project towards commencing construction and as we aim to further expand resources, life of mine and production capacity in 2021.
“It is a further encouragement that the NT Government understands the important role that Finniss will play in the future of the lithium sector and as we continue to see signs of global improvement in this industry, we are optimistic of our near-term plans for Australia’s next lithium mine.”