Insights

Core Lithium (ASX:CXO) share price gains on project’s sustainability rating

Core Lithium’s Finniss Project has been found to be one of Australia’s least carbon intensive lithium mines. Here are the details
The post Core Lithium (ASX:CXO) share price gains on project’s sustainability rating appeared first on The Motley Fool Australia. –

Shares in Core Lithium Ltd (ASX: CXO) are gaining today while the company is celebrating its Finniss Lithium Project’s sustainability evaluation results. At the time of writing, the Core Lithium share price is 24 cents – 2.17% higher than its previous close.

Let’s take a look at the latest news from Core Lithium.

One of Australia’s least carbon-intensive lithium mines

Core Lithium has announced its Finniss Lithium Project has been found to have less scope 3 emissions per tonne of product produced than other Australian lithium projects.

Additionally, only one noted Australian lithium project had fewer scope 1, 2, and 3 emissions per tonne of product produced than the Finniss Lithium Project.

Scope 1 emissions are from a company’s direct business, while scope 2 emissions are from creating the power a company uses. Finally, scope 3 emissions are those found in the rest of a company’s value chain.

The Finniss Lithium Project’s location means its emissions from transport are much lower than other lithium projects. It lies just 25km from a port, a power station, a gas source, and a railway. It’s also just 1 hour’s drive on a sealed road from Darwin Port and its workforce’s accommodation.

The assessment, produced with environmental and sustainability consultants ERM Group, looked at the Finniss Project’s carbon footprint, life cycle, and sustainability.

The report considered all activity at the mine site, including land clearing, fuel consumption, electricity usage and blasting. It also looked at scope 3 emissions created by transporting products, business travel, and employee commutes.

Core Lithium said it’s looking into ways to further reduce its carbon footprint. It plans to revegetate the mine site. It’s also considering powering the site with renewable energy and utilising electric vehicles.

Commentary from management

Core Lithium’s managing director Stephen Biggins said of the mine’s sustainability results:

Core Lithium has always been aware of the inherent environmental, social and infrastructure advantages associated with the Finniss Lithium Project. Work performed to date by ERM Group supports the company’s push towards greater sustainability transparency and greater focus is being placed on improving the company’s relatively low-carbon footprint.

Core Lithium share price snapshot

Today’s news has given yet another boost to the Core Lithium share price.

It’s currently 42% higher than it was at the start of 2021. It has also gained 384% since this time last year.

The company has a market capitalisation of around $270 million, with approximately 1.1 billion shares outstanding.

The post Core Lithium (ASX:CXO) share price gains on project’s sustainability rating appeared first on The Motley Fool Australia.

Should you invest $1,000 in Core Lithium Ltd right now?

Before you consider Core Lithium Ltd , you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Core Lithium Ltd wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of May 24th 2021

More reading

Why Afterpay, Core Lithium, De Grey Mining, & Pro Medicus are storming higher

Here’s why the Core Lithium (ASX:CXO) share price is lifting off today
Core Lithium (ASX:CXO) share price rebounds on positive update

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. 

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
Trade The US Market With ZERO Brokerage* + FREE Access To Trading Ideas & Value Analysis Tools. Click Here!