The NT Independent is providing an update of resource news from across the Northern Territory. Highlights this week include Tamboran fast-tracking Beetaloo sub-basin evaluation, Core Lithium posting first-year operational profits, Empire Energy getting enhanced C-3H Flow Rates, and Avenira and ALEEES entering an agreement to construct a lithium ferro phosphate (LFP) battery cathode manufacturing facility at the proposed Middle Arm Industrial Precinct.

Core Lithium registers first-year profits

Core Lithium has posted its initial full-year earnings since starting production last March at its Finniss lithium project in the Northern Territory. Core reported an initial revenue of $ 50.6 million and earnings before interest, taxes, depreciation and amortisation of $14 million. The company has achieved a net profit of $10.8 million and an operating cash flow of $90.8 million.

The company was able to produce 18,274 tons of spodumene concentrate for the period, with recoveries 48 per cent lower than anticipated in its 2021 definitive feasibility study test work. It said it has undertaken process optimisation trials to improve recoveries and has initiated a sale of lithium fines products to customers.

Next year, Core is targeting a production of between 80,000 tons and 90,000 tons, at a C1 cost of between $1,165 per ton and $1,250 per ton.

Tamboran fast-tracks Beetaloo sub-basin evaluation

Tamboran Pty Ltd is speeding up appraisal of the Beetaloo sub-basin with spudding of its Amungee NW-3H (A3H) horizontal well in exploration permit 98, partner Falcon Oil & Gas Ltd. Tamboran’s A3H well is the second of the company’s 2-well program in 2023.

The program is targeting the Amungee Member B-Shale at an estimated depth of 2,450 m total vertical depth (TVD). The well lies on the same well pad as the Amungee NW-2H well in the permit and is about 60 km north of the Shenandoah South 1H well (SS1H) on which drilling was completed earlier.

Drilling activity is expected to take about 25 days, including a 1,000-m horizontal section. A simulation program is planned for the second quarter of 2024, following the end of the Northern Territory wet season.

Empire Energy gets enhanced C-3H Flow Rates

Empire Energy Group Ltd reported increased gas flow rates at an average rate of 2.8 terajoules daily at its Carpentaria-3H (C-3H) well in the Beetaloo Basin. C-3H well’s ‘post-soak’ average daily production rates went up 30 per cent from the IP27 ‘pre-soak’ test conducted during the March quarter.

The company expects improved recovery and rates in future wells as it adapts drilling and completion lessons learnt from executed work programs. “We believe that this will have positive implications for the productivity of future development wells. We continue to progress our planning for the Carpentaria Pilot Project and are on track to seek a final investment decision from the board to progress to commercial production from EP187 in the months ahead,” Empire’s managing director Alex Underwood said.

LFP battery cathode processing facility hits breakthrough

Avenira and Taiwan’s ALEEES have entered into a transfer agreement to set up a lithium ferro phosphate (LFP) battery cathode manufacturing facility at the proposed Middle Arm Sustainable Development Precinct in the Northern Territory. The agreement grants Avenira the authority and specifications required to produce LFP battery cathode material in Darwin. The facility will have to capacity to deliver 30,000 tonnes per annum of LFP powder – instrumental in EV and energy storage batteries.

Last year, Avenira and ALEEES signed a Memorandum of Understanding to collaborate with the Northern Territory on advancing the manufacturing plant. Avenira’s Wonarah Phosphate project in the Barkly region will ultimately supply phosphate to the LFP facility. “Once operational this will be Australia’s first LFP plant and an important example of value-adding to our upstream Wonarah Phosphate Resource,” Avenira chairman Brett Clark said.

Avenira is one of five companies committed to land acquisition at the Middle Arm Industrial Precinct.