Core Lithium Ltd., Adelaide, Australia, (CXO) has been granted a mineral lease for the BP33 lithium deposit from the Government of the Northern Territory of Australia, Themarketherald.com.au reports.
BP33 is a key component of the company’s Finniss Lithium Project, located near Darwin in the Northern Territory. This is the second lithium mineral lease in the Northern Territory awarded to Core after the Grants deposit mineral lease in 2019.
The new mineral lease is another key milestone as Core prepares the lithium project to become shovel-ready. Last year, the company announced a 50 per cent increase in resources at Finniss and doubled the life of mine.
“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,” Managing Director Stephen Biggins said.
“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,” he added.
