Lithium mining projects advance in Australia's Northern Territory

Lithium mining operations in Australia's Northern Territory are advancing through various developmental stages. Core Lithium reported a transitional fiscal year, securing funding to restart its Finniss operations and beginning underground development at BP33. While the company reported a net loss of $26 million due to increased restart spending, it ended the year with $181.8 million in cash. Core Lithium aims to ship its first newly produced spodumene concentrate in the December quarter and targets a steady-state mining rate of 1.2 million tonnes per annum by mid-2028.

Separately, Lithium Plus Minerals has progressed its Lei lithium project by submitting a Supplementary Environmental Report to the Northern Territory Environment Protection Authority. The company has already secured a 20-year mining lease for the project, which is located approximately 80km from Darwin Port. A technical scoping study assessing a low-capital-intensity direct shipping ore development is expected to be released in early Q4 2026.