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Core Lithium, which officially cut the ribbon to mark the start of mining at Finniss yesterday, announced the A$60 million, five-year contract at the same time.
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Primero has been involved with Finniss since aiding with the scoping study, and was awarded the engineering, procurement and construction contract in September 2021.
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The new deal is focused on operation of the dense media separation plant that is Primero is constructing and is set to be commissioned next year.
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It also covers the tailings storage facility.
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NRW chief executive Jules Pemberton said Primero was successfully diversifying into longer term operational contracts.
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Core has an option to extend the contract beyond the initial term.
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Primero has a long history in Western Australia's lithium space, working with Pilbara Minerals' Pilgangoora, Covalent Lithium's Mt Holland, Allkem's Mt Cattlin, and Alita Resources' Bald Hill developments.
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Core's $89 million Finniss is Australia's only lithium mine outside Western Australia. It started selling direct shipping ore this month, and expects to sell its first spodumene concentrate next year.听
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Finniss has transformed from an exploration concept to open pit mine in just over six years and is expected to process some 16 million tonnes of ore over 12 years.听
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Core, which now has cash of around $210 million, expects to spend a further $95 million to produce its first concentrate.听
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It has earmarked $25 million for extensional and exploration drilling
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Core will develop multiple deposits at Finniss to produce 197,000tpa of concentrate for sales to the likes of Ganfeng Lithium and Tesla, with around 80% of production under contract.听
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Core shares closed yesterday at $1.14, valuing it at $2.1 billion, while NRW's stock was last traded at $2.47, capitalising it at $1.1 billion.
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