Core Lithium Ltd (ASX:CXO) and Lake Resources NL (ASX:LKE, OTCQB:LLKKF) are the beneficiaries of the June 2022 S&P Dow Jones Indices quarterly rebalancing of the S&P/ASX 200 Index.
Core, which is developing one of Australia’s most capital-efficient and lowest-cost lithium spodumene projects, will be added to the index ahead of the opening on June 20, 2022.
Also on that date, clean lithium developer Lake Resources will be added to the S&P/ASX 200 Index.
The S&P/ASX 200 is recognized as the institutional benchmark for investment in Australia.
It is designed to measure the performance of the 200 largest index-eligible stocks listed on the ASX by free float-adjusted market capitalization.
Acceleration of the development of the Finniss project
Core Lithium is developing the Finniss Lithium project near the port of Darwin in the Northern Territory, Australia.
The company has made significant progress in the development of Finniss, having awarded a crushing contract to CSI Mining Services, nearly completed the Dense Media Separation (DMS) plant earthworks and secured five new trucks and an excavator .
CSI will mobilize to the site from this month, under contract to crush run-of-mine ore which will then be stored and processed by the DMS plant.
The DMS plant will be used to transform the crushed ore into spodumene concentrate, ready for export.
The Grants open pit will be the initial source of ore for the DMS plant until the BP33 underground mine – among others – can come online.
The additional dump trucks and excavator will allow Core to accelerate this first stage of mining at the Grants pit.
Emerging lithium producer
Lake Resources uses clean, direct mining technology for the development of sustainable high-purity lithium from its flagship Kachi project, as well as three other lithium brine projects in Argentina.
The company’s four projects cover 2,200 square kilometers in a prime location within the Lithium Triangle, where 40% of the world’s lithium is produced at least cost.
Kachi recently caught the eye of one of the world’s largest automakers, Ford, which signed a memorandum of understanding (MoU) with the clean lithium developer to broker an offtake deal.
The MoU positions Ford to recover approximately 25,000 tonnes of lithium annually from Lake’s Kachi asset as part of a strategic collaboration.