Core to sell Finniss spodumene stockpile to Glencore
ASX-listed Core Lithium has secured a fixed-price agreement with commodities major Glencore for the sale of its remaining spodumene concentrate stockpile at the Finniss lithium project in the Northern Territory.
The agreement covers about 5 100 dry metric tonnes (dmt) of spodumene concentrate that was stockpiled in mid-2024 when operations at Finniss were paused owing to weaker lithium market conditions.
Pricing achieved reflects a Fastmarkets SC6 CIF China equivalent price of $2 023/t at the time of sale. Payment is expected to be received in the June quarter of 2026. The agreement is unconditional and subject to customary terms for a transaction of this nature.
Core said the sale would be effected through the existing Finniss logistics chain to Darwin port, helping to remobilise site-to-port infrastructure ahead of a potential operational restart.
“The strategic sale of the concentrate stockpile provides important additional funding and market engagement to support our restart strategy, while also remobilising the Finniss logistics chain from the site through to Darwin port," said CEO Paul Brown.
The sale price reflects the recent strength in the lithium market and is more than 50% higher than the price used in Core's May 2025 restart study.
Core retains an estimated 75 000 dmt of lithium fines stockpiled at Finniss, which remain available for potential sale.
"This material has significant value in the current market and also has the potential to be used as a future funding source," said Brown.
The Finniss operation is located on the Cox Peninsula, about 88 km by sealed road from Darwin port, and represents Core’s flagship hard-rock lithium asset.
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