Australian lithium miner Core Lithium (ASX: CXO) has provided the following business update.
The ship Rossana, loaded with 15,000 dmt of 1.4% Li2O spodumene Direct Shipping Ore (DSO) from the Finniss Lithium Operation, has set sail from Darwin Port headed to a customer in China.
This marks the maiden shipment of lithium product from Finniss and is the Company’s first revenue event as well as a significant milestone in Core’s journey to deliver sustained shareholder value.
The DSO cargo was successfully tendered in October using a digital exchange platform and purchased by a lithium-ion battery supply chain participant in Fangcheng, China, for a price of $US951/dmt. Loading of the Rossana commenced on 30 December 2022.
“I am proud of the Core team and our contract partners for safely delivering this significant milestone in our company’s history,” Core Lithium CEO Gareth Manderson said.
“This first shipment of lithium product has also allowed our team to successfully commission the logistics chain linking Finniss to the Darwin Port.
“Our focus now is to safely complete construction of the dense media separation (DMS) plant at Finniss to enable us to produce high-quality spodumene concentrate.”