Core Lithium to sell Finniss stockpile to Glencore International

Core Lithium has signed a binding statement for the merchantability of its remaining spodumene ore stockpile from the Finniss Lithium Project to Glencore International.

The Finniss Lithium Project is situated 88km southbound of Darwin Port connected a sealed road, successful Australia's Northern Territory. The task covers an country exceeding 500km².

The sale, which involves astir 5,100 adust metric tonnes (dmt) of spodumene concentrate, is acceptable astatine a fixed terms equivalent to the Fastmarkets SC6 CIF China complaint of $2,023/dmt astatine the clip of transaction.

Payment for the stockpile is anticipated successful the June 4th of 2026.

The transaction volition utilise the existing logistics concatenation from the Finniss task to Darwin Port, a determination seen arsenic important for gathering momentum up of a imaginable restart of operations.

Currently, a lithium fines stockpile of astir 75,000dmt remains disposable astatine the site.

Core Lithium CEO Paul Brown said: “The strategical merchantability of the ore stockpile provides important further backing and marketplace engagement to enactment our restart strategy, portion besides remobilising the Finniss logistics concatenation from the tract done to Darwin Port.

“The merchantability terms reflects the caller spot successful the lithium marketplace and is much than 50% higher than the terms utilized successful our May 2025 Restart Study.

“The caller inbound involvement received for purchasing our stockpiled worldly reflects the high-quality, coarse-grained quality of the Finniss concentrate, which was good received by offtake customers during the archetypal signifier of operations. This result helps physique assurance successful achieving an result successful our strategical backing process, to enactment a last concern determination and a restart of operations astatine Finniss.”

The stockpile was created successful 2024 erstwhile operations were halted owed to an 85% driblet successful spodumene ore prices.

"Core Lithium to merchantability Finniss stockpile to Glencore International" was primitively created and published by Mining Technology, a GlobalData owned brand.

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