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FINWIRES

Develop Global Secures AU$274 Million Underground Mining Contract With Core Lithium

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Develop Global (ASX:DVP) has secured a AU$274 million contract with Core Lithium (ASX:CXO) to deliver all underground development and production works at the Finniss lithium project in Australia's Northern Territory, according to a Wednesday Australian bourse filing.

The contract covers surface infrastructure and portal development at the BP33 mine, with mobilization expected in June and mining operations scheduled to start in July, per the filing.

The deal has a minimum three-year term with a two-year extension option and is expected to generate around AU$120 million in annual revenue on a steady state basis, the filing said.

The company has also started work on its newly awarded five-year contract for OceanaGold's Waihi North project in New Zealand, the filing added.

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