Core Lithium (ASX:CXO) has provided an operational update on its Finniss Lithium Operation in the Northern Territory, confirming that the Restart Study is on track for completion in the June quarter of 2025, with opportunities identified to boost productivity and reduce costs.
As part of the process, Core has concluded all remaining operating contracts from Finniss’s previous operational phase. The company will pay $19.5m over four months to acquire associated infrastructure on an “as is, where is” basis, eliminating third-party obligations and demobilisation costs.
Core now holds 100% ownership of site infrastructure, a move expected to lower care and maintenance costs and support a more efficient operating model in any future restart scenario.
The Restart Study is focused on optimising infrastructure at Finniss, which has received over $250m in capital investment across the Grants and BP33 deposits. An updated mine plan for BP33—containing 8.7Mt at 1.38% Li₂O—is underway in collaboration with independent consultants, with plans to adopt longitudinal open stoping for underground mining.
Metallurgical studies are also progressing, targeting improved recovery and throughput from the DMS plant without the need for flotation. The final investment decision will remain subject to market conditions and Board approval.
Core said the changes align with its aim of building a resilient business model capable of operating through all lithium price cycles.
