Finniss Lithium Operations
Owned and operated by Core Lithium, the Finniss Lithium Operation is a hard-rock lithium mine located on the Cox Peninsula in Australia’s Northern Territory. Located 88km south-west of Darwin with direct access to Darwin Port, it is the Northern Territory’s first lithium mine.
Commencing production in October 2022, it transitioned to temporary care and maintenance in mid-2024 due to a decrease in current demand for lithium.
To date, Core Lithium has continued to grow its mineral resource base and advance strategies to lower future operating costs.
Exploration demonstrates ongoing potential for lithium, as well as indications for gold, with Core Lithium announcing a 45% increase in its total lithium mineral resource in late 2024.
In 2025, Core Lithium completed a restart study to reposition Finniss Operations as a lower-cost, more resilient project. The study outlines a potential 20-year mine life, initially centred on scalable underground mining at the Grants and BP33 deposits, with plans to progressively develop the broader Finniss resource inventory. The company also recently announced the termination of the Yahua Offtake Agreement providing new strategic offtake opportunities.
- Investment type: Brownfield
- Status: Approvals in place
- Region: Top End, Northern Territory, Australia
- Project value: CAPEX $175 to $200 million
The Northern Territory remains highly prospective for lithium, particularly within the spodumene-bearing pegmatites of the Bynoe Pegmatite Field, as well as the Anningie and Barrow Creek pegmatite fields in Central Australia.
The favourable mineralogy of these fields, including consistent pegmatite structures, allows for predictable and efficient processing methods.
When compared to other Australian lithium fields, Finniss represents a significant resource base, albeit smaller. However, the high-grade nature of Core Lithium's deposits, particularly at Blackbeard and BP33, positions the company favourably in terms of potential extraction economics.
The Finniss Operations' global mineral resources include multiple deposits: Grants, BP33, Hang Gong, Sandras, Lees, Ah Hoy, Booths, Bilatos, Penfolds, Seadog, and Carlton. The current global Ore Reserves are defined at the Grants and BP33 deposits.
Company profile
Core Lithium (ASX: CXO) is the 100% owner of the Finniss Lithium Operation in the Northern Territory. Core also holds a portfolio of tenements across the Northern Territory and South Australia, which are prospective for a variety of commodities, including base metals, rare earths, gold, and uranium.
Download the Finniss Operations (Lithium) investment opportunity flyer PDF (213.5 KB).
Disclaimer
This investment opportunity is brought to market by an external proponent. The Northern Territory of Australia exercised due care and skill to ensure that at the time of publication the information contained in this publication is true and correct. However, it is not intended to be relied on as professional advice or used for commercial purposes. Australia's Northern Territory gives no warranty or assurances as to the accuracy of the information contained in the publication and to the maximum extent permitted by law accepts no direct or indirect liability for reliance on its content.