Develop Global wins A$274m Core Lithium underground mining contract

Develop Global Limited ( (AU:DVP) ) has shared an update.

Develop Global has secured a A$274 million contract to carry out all underground development and production at Core Lithium’s BP33 mine, part of the Finniss Lithium Project in the Northern Territory, starting underground mining in July 2026 after mobilisation in June. The three-year contract, with a two-year extension option, is expected to deliver about A$120 million in steady-state annual revenue, strengthen Develop’s presence in the lithium sector, and support portfolio diversification alongside its five-year mining services contract at OceanaGold’s Waihi North Project in New Zealand.

The BP33 deposit underpins a long-life, low-cost underground production base with more than a decade of mine life and exploration upside, aligning Develop with a major ASX-listed lithium producer valued at around A$1 billion. Management highlighted strong demand for experienced underground mining teams and positive client feedback, suggesting the new work will enhance Develop’s industry positioning, underpin future tendering activity, and provide greater earnings visibility for stakeholders.

The most recent analyst rating on (AU:DVP) stock is a Buy with a A$6.60 price target. To see the full list of analyst forecasts on Develop Global Limited stock, see the AU:DVP Stock Forecast page.

More about Develop Global Limited

Develop Global Limited is an ASX-listed mining services company focused on providing underground development and production solutions to resources projects. Its portfolio includes contracts across commodities such as lithium and gold, with an emphasis on leveraging experienced underground teams and technical capability to service long-life, high-quality mining operations in Australia and New Zealand.

Average Trading Volume: 1,113,660

Technical Sentiment Signal: Buy

Current Market Cap: A$1.96B

For detailed information about DVP stock, go to TipRanks’ Stock Analysis page.