Prime Mover Magazine

Core Lithium completes strategic acquisition

Lithium developer, Core Lithium, has secured its place in the Electric Vehicle (EV) and lithium battery supply chain following its acquisition of the Walanbanba lithium project in the Northern Territory from Todd River Resources.

The Walanbanba project is adjacent to the company's Anningie and Barrow Creek (ABC) lithium project in the NT.

Core Lithium Managing Director, Stephen Biggins, said recent discussions with a number of large lithium consumers at various levels within the EV and lithium battery supply chain suggest the world needs to heavily invest in new lithium supply if industry is going to achieve the EV production and emission goals demanded by consumers and governments in the near future.

“Not only is there strong recognition of Core’s capability to deliver high-quality lithium, at a competitive-cost to the car manufacturing industry, but it can achieve that from a capital efficient, sustainable and transparent sourced near Darwin," he said. “Core is positioning the company and the NT to be an important long-term lithium supplier in northern Australia."

Core's expanded ABC lithium project in the NT is close to a rail connection that links direct to Darwin Port with synergies to the company's Finniss lithium project.

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