Core Lithium has awarded a three-year contract worth approximately $274 million to Develop Global’s subsidiary Dev Mining Services for underground mining at the BP33 deposit, part of the Finniss Lithium Operation, with an option for a two-year extension. BP33 will provide 88% of ore feed in the first ten years.
Core Lithium Ltd. has awarded a three-year underground mining services contract to Dev Mining Services Pty Ltd, a subsidiary of Develop Global Limited, for the BP33 deposit at the Finniss Lithium Operation in the Northern Territory, according to official disclosures.
The contract includes an option for a two-year extension and has a value of approximately $274 million. Scope of work includes drill and blast, load and haul, decline development, production, and ground support under a fixed and variable schedule of rates with lump sum components for mobilization and establishment.
This development matters because BP33 provides a long-life, low-cost underground production base with more than 10 years of mine life and significant exploration upside. Under Core’s mine plan, BP33 is expected to contribute 88% of ore feed in the first ten years of operation. The deposit features a sub-vertical pegmatite body with 290 meters strike length, up to 30 meters true width, and depth extent exceeding 800 meters, suited for long-hole open stoping mining methods.
The competitive tender process focused on reducing execution risk, selecting a contractor with balance sheet strength and relevant experience in comparable geological conditions and geotechnical risk. Industries impacted include lithium mining, underground contracting, and battery raw materials.
Regional stakeholders include the Northern Territory’s mining workforce and downstream lithium converters.
For investors, the contract signals progress toward production at BP33, with dual-level access allowing flexible stope sequencing. The structured contract shares delivery and productivity risk between Core and Develop. Execution success depends on contractor performance and lithium price stability.
Core Lithium is an Australian lithium mining company headquartered in Adelaide, operating the Finniss Lithium Operation in the Northern Territory.
Develop Global is an Australian mining services and resource development company, with Dev Mining Services providing underground mining contracting.
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