Core Lithium Starts Mining at Grants Open Pit, Targets First Shipment in December Quarter
Core Lithium has kicked off mining at the Grants open pit within its Finniss Lithium Operation, aiming to process ore by September and ship spodumene concentrate by December. This milestone advances the company's production restart on schedule.
- Mining operations commenced at Grants open pit
- First spodumene concentrate shipment expected December quarter
- Grants pit offers low-strip, near-term ore source
- Underground development at BP33 progressing on schedule
- Operations aligned with approved investment decision and budget
Mining Resumes at Grants Open Pit
Core Lithium Ltd (ASX:CXO) has officially restarted mining at its Grants open pit, a key component of the Finniss Lithium Operation in the Northern Territory. Blasting and excavation activities are underway, marking the physical restart of mining after the project's recent Final Investment Decision (FID) and funding approvals. The company expects to begin processing ore from Grants during the September quarter, with the first shipment of spodumene concentrate targeted for the December quarter, signalling a near-term return to revenue generation.
Grants Pit as Early Production Driver
The Grants open pit is designed as a low-strip, near-term ore source, providing approximately 784,000 tonnes of ore with an expected yield of 134,000 tonnes of SC5 spodumene concentrate. This strategic focus on Grants supports Core Lithium’s goal of fast-tracking cash flow while underground development progresses. The surface mining contract was awarded to NRW Pty Ltd in April 2026, with mobilisation and mining activities now actively underway, reinforcing the company's operational momentum following the $50M contract to restart Grants mining.
Underground Development Advances at BP33
Alongside the Grants open pit, Core is advancing underground development at the BP33 deposit, which will serve as the long-term production backbone for Finniss. The BP33 project remains on schedule with civil infrastructure works progressing, setting the stage for ore supply continuity beyond the initial open pit phase. This development is supported by a substantial $274 million contract awarded recently, which outlines a three-year mining plan with first ore expected by mid-2027 and full production by 2028, underscoring the dual-path approach to production ramp-up BP33 underground mine contract.
Execution on Schedule and Budget
Core’s Managing Director Paul Brown emphasised the disciplined execution since the FID, highlighting secured funding, contract awards, and rapid mobilisation as key achievements. The company’s focus remains on safe and reliable operations, with the Grants pit providing a low-risk ore source to underpin early cash flow while BP33 development continues. This milestone aligns with the previously announced fully funded restart plan backed by equity raises and strategic partners, which collectively provide a strong financial foundation for the project’s next phases.
Looking Ahead to Production and Shipments
With mining now underway, Core Lithium is on track to process Grants ore in the September quarter and deliver the first spodumene concentrate shipment by December 2026. Subsequent shipments are expected to continue into calendar year 2027, supporting the company’s revenue outlook. Investors will be watching closely for operational updates and quarterly production figures to assess the transition from development to steady-state production at Finniss.
Bottom Line?
Core Lithium’s Grants mining restart is a tangible step toward revenue generation, but the transition to full-scale underground production at BP33 remains a critical milestone to watch.
Questions in the middle?
- How will Grants open pit production volumes compare to initial forecasts once processing begins?
- What impact will BP33’s underground ramp-up have on Finniss’s overall production profile in 2027 and beyond?
- How will market conditions for spodumene concentrate affect Core Lithium’s shipment schedules and pricing?
