Core Lithium executes agreement with Darwin Port Operations for Finniss lithium exports

Core Lithium Ltd (ASX:CXO) (OTCMKTS:CXOXF) has executed a five-year operating agreement with Darwin Port Operations Pty Ltd (DPO) for the export of lithium products produced at Finniss Lithium Project near Darwin in the Northern Territory of Australia. In early 2017, Core entered into a non-binding Heads of Agreement with DPO and this has progressed into a Port Operating Agreement (POA) with the company’s wholly-owned subsidiary Lithium Developments (Grants NT) Pty Ltd. Strong fit for Core’s requirements The POA will allow Lithium Developments to access and use the DPO facilities to export Core's lithium products and contemplates direct shipping ore (DSO) and spodumene concentrate. Access to the DPO facilities includes a truck unloading dump facility, the ship loader feed conveyor to convey product to the ship loader and access to the ship loader with berths capable of accommodating vessels up to Panamax size. As such the DPO facilities are a strong fit for Core’s requirements. Targeting end of 2022 for exports Managing director Stephen Biggins said: “Access to key infrastructure like Darwin Port and the capital city of Darwin in northern Australia enables Core to build one of the most capital efficient and cost competitive hard-rock lithium projects in the world. “With a successful FID expected in coming months, Core is aiming to commence export of high quality lithium concentrate from Darwin Port by the end of next year.” The ability to use the existing DPO facilities, combined with the short haulage distance on existing sealed roads suitable for trucking means Core has minimal capital costs and low operating costs for its logistics chain from mine to port. Costs anticipated by Core to use the DPO facilities are consistent with Core’s estimated all in logistics costs that are among the lowest among Australian hard rock lithium miners and developers. Shares were 6.67% higher to A$0.24 today and Core's market capitalisation sits at approximately A$264.2 million.