The proposed tax, to be applied on the nominal value of extracted metals, would affect copper miners that produce more than 12,000 tonnes of the metal and those extracting 50,000 tonnes of lithium a year.
Partners may lose their right to develop the Mt Holland lithium project after a recommendation by a unit of the West Australian government that regulates mining leases.
The court is scheduled to hear the details of the settlement agreement on Sept. 13, and is slated to make a decision on the case by Oct. 4, the FNE said in a statement.