Core Lithium Ltd (ASX:CXO) (OTCMKTS:CXOXF) has produced battery-grade lithium hydroxide monohydrate (LH) from spodumene mineral concentrate emanating from the Finniss Lithium Project in the Northern Territory.
The scoping level test-work program has demonstrated that the conventional ‘direct’ flowsheet can be applied to the processing of the mineral concentrate sample to produce battery-grade lithium hydroxide monohydrate.
In light of this, and the recently granted Federal Government Major Projects status, the company is now considering the downstream value potential given the project’s synergies with the adjacent Middle-Arm industrial infrastructure near Darwin.
Confidence in supply chain position
Core managing director Stephen Biggins said: “Today’s announcement confirms that battery-grade lithium hydroxide suitable for high-end uses in the lithium battery, renewable energy and electric vehicle industries, can be produced from Core’s excellent quality lithium concentrate produced from the Finniss Project.
“This successful proof-of-concept test-work provides Core, and our customers, the confidence in utilising Finniss lithium concentrates in the global lithium battery supply chain.
“Together with the recent award of Major Project Status from the Federal Government, this program lays a foundation for Core to explore the potential of adding downstream processing infrastructure to our portfolio, incorporating the strong synergies with the infrastructure at the nearby Middle-Arm Industrial Precinct at Darwin Port and aligning with Australia’s national Modern Manufacturing Strategy and expansion of the global lithium battery supply chain.”
Progressing towards DFS and FID
Demonstration of the production of battery-grade LH in this program provides Core and its customers confidence in the value of the Finniss Project, its importance to Australia’s northern regional economy, and strengthening Australia’s position further downstream in the global lithium battery supply chain.
The project not only aligns with Australia’s Modern Manufacturing strategy but with the rapid expansion of global lithium battery supply chains needed to meet the demands of the ever-increasing LIB, electric vehicle (EV) and renewable energy markets.
The company remains focused on completing the DFS and finalising current live offtake negotiations ahead of reaching a Final Investment Decision (FID) which is expected in quarter three of 2021.
Story by ProactiveInvestors
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