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- Core Lithium (CXO) awards Primero Group the engineering, design and construction (EDC) contract for the Finniss Lithium Project in NT
- The EPC contract will commence post the final investment decision
- The project has gained all NT government approvals and is fully funded following the $140 million capital raise
- Core and Primero have worked closely together since 2019 to deliver the definitive feasibility study for the Finniss Lithium Project
- Core Lithium is down 2.47 per cent and is trading at 39.5 cents per share at 12:48 pm AEST
Core Lithium (CXO) has awarded Primero Group the engineering, design and construction (EDC) contract for the Finniss Lithium Project in Northern Territory.
The shovel-ready Finniss Project is near the Darwin Port, which is the closest port in Australia to Asia.
The EPC contract will commence after the final investment decision. On-site process plant construction activities are scheduled to start in March 2022.
The project has gained all NT government approvals and is fully funded following the $140 million capital raise.
Additionally, Core signed a four year offtake agreement with Ganfeng to provide $34 million in new equity.
Core and Primero have worked closely together since 2019 to deliver the definitive feasibility study for the Finniss Lithium Project.
Managing Director Stephen Biggins is pleased to award this contract.
“We are excited to have Primero on board as an experienced and successful lithium EPC contractor and look forward to working together, delivering the DMS plant and creating an exciting opportunity for the people of the NT,” he said.
“As we have stated to the market, construction of the Finniss Project is on schedule to commence before the end of 2021, with Primero ready to hit the ground running immediately with initial work, in the lead-up to the commencement of process plant building activities in March next year.
“2022 is shaping up to be a defining year for Core Lithium.”
Core Lithium is down 2.47 per cent and is trading at 39.5 cents per share at 12:48 pm AEST.
