Article by Danielle Le Messurier courtesy of the West Australian.
Core Lithium chief Gareth Manderson says accelerating approvals for new mines must be a priority for governments as the industry faces looming shortfalls in the supply of the battery metal.
While Core has been blessed with speedy approvals for its flagship Finniss lithium project from the Northern Territory Government, Mr Manderson said there needed to be an “ongoing dialogue” — particularly when it comes to managing environmental issues — to ensure projects are supported.
Core announced its maiden shipment of spodumene concentrate from the Darwin Port in April, selling 5500 tonnes to Chinese industrial company and long-term customer Sichuan Yahua.
It also has a binding offtake agreement with Chinese battery metals giant Ganfeng, which owns the Mt Marion lithium mine in WA with Mineral Resources.
“There’s definitely been that engagement, that problemsolving approach . . . we just need to see more of that continue,” Mr Manderson, pictured, told The West Australian.
Gina Rinheart’s Hancock Prospecting this week warned approval times continued to rise across the board, urging the Federal Government to cut red tape to boost volumes of lithium, rare earths, copper and various other minerals to meet net-zero commitments.
Mr Manderson said Core was working hard to fulfil its contracts with Yahua and Ganfeng, to establish an integrated mining business and assess options for expansion but would remain open to opportunities that create value for shareholders.
Core in May received approval for early works funding of up to $50 million for BP33, the next proposed mine at Finniss, and all mining approvals from the Northern Territory Government.
“It’s great to have all of the inbound interest — it’s definitely the right time to be entering the market . . . and it provides a good entry point for a business like Core that’s starting small,” he said.
“The underlying demand is there and there’s a great opportunity, particularly in the upstream in production of spodumene concentrate.
“What you’re seeing is industry starts to mature from small volumes to quite a lot of demand for lithium.”
Core announced on Thursday it would officially become a Perth-headquartered company next Tuesday when its Mill Street office is registered as the company’s principal office.
Founded in Adelaide, the Core team recently relocated Perth to better access mining services providers — particularly those with lithium experience. They expect to move into the new headquarters around November after a refurbishment is completed.
“From a recruitment perspective, what we’ve found is people are interested in joining Core . . . a new company in the lithium space. That carbon reduction, new opportunity (theme) is something that’s attractive and for the most part we’re finding plenty of great people in Perth,” Mr Manderson said.
Core is entering the market at an “fairly favourable time” amid a wave of deals in the lithium sector, including a $15.7 billion tie-up between Allkem and US group Livent.
Shares in Core Lithium closed 1.5¢ lower on Thursday at 96¢.