Final Investment Decision and Funding Secured for the Restart of the Finniss Lithium Operation

Core’s Managing Director Paul Brown commented:

“Today’s approval of the Final Investment Decision and the securing of a fully committed Funding Package is the culmination of 18 months of diligent planning and execution for Core. The restart plan delivers a de-risked, lower cost, long-life operation with robust economics supported by valued Strategic Partners who share our long-term vision for Finniss.

The transaction with Glencore, InfraVia and Nebari is the culmination of a rigorous and highly competitive nine‑month strategic funding process. Securing such high‑calibre partners reflects the strength of that process. The resulting funding package positions us to deliver sustainable returns while minimising dilution for the long‑standing shareholders who have consistently supported us.

With all major approvals in place and a proven processing plant ready for restart, Core will now progress mobilisation activities. Near‑term ore feed will be sourced from the Grants Open Pit, providing a low‑risk and rapid pathway to recommencement of concentrate production. BP33 underground development will occur in parallel, supporting a transition to long‑life, high‑margin underground operations.

The Company remains focused on safe, disciplined execution as it advances a staged restart program through 2026 and 2027 with first spodumene concentrate production targeted for the September quarter 2026. First ore from Grants is targeted within one month of contractor mobilisation, with BP33 first ore expected in mid‑CY2027 and ramp‑up to nameplate production of 1.2Mtpa in mid‑2028.

Employment levels at Finniss are expected to scale across construction and operations, supporting a material number of jobs over the project lifecycle. Core appreciates the support Finniss has received from the Northern Territory government and local stakeholders.”

Read the full ASX announcement