Core ships first 10,000t of concentrate into longterm offtakes and first fines
8 September
Australian lithium miner Core Lithium (ASX: CXO) has shipped the inaugural 10,000t spodumene concentrate delivery into long-term offtake agreements and a 15,000t parcel of lithium fines.
The ship Clearwater Bay was loaded at Darwin Port yesterday and is expected to discharge the cargos at ports in China later this month.
The concentrate parcel would be delivered to foundation customer Ganfeng Lithium. The product presented well and is within the Ganfeng contract specifications. This shipment follows the two concentrate shipments made in April and July under separate agreements with Sichuan Yahua.
In addition, and further to the update provided in the Quarterly Activities Report for the quarter ended 30 June 2023, Core has also successfully negotiated the sale of an initial parcel of fines from its Finniss operations. A 15,000t parcel, with a grade of 1.2% Li2O has also been loaded.
Core Lithium CEO Gareth Manderson said:
“Delivering concentrate into long-term offtake agreements is a significant milestone for Core as we ramp up operations at the Finniss Lithium Operation. The product presents well and will be sold on a formula-based pricing mechanism linked to the lithium spot price.
“The sale of the lithium fines has been established to deliver a revenue stream from a previously unsold by-product. Lithium fines sales provides an immediate commercial option while plant recovery improvement work is underway. I am impressed with how the operations, technical and sales and marketing teams, have moved quickly to realise this commercial option within a short timeframe.
“Delivering first concentrate into long-term offtake agreements, and the sale of first fines are both significant milestones, and I commend the Core team for the work they have done to safely produce and deliver these products.”