Why is Core Lithium Ready to Export its First Lithium Concentrate Cargo and Lithium Fines?
Core Lithium Ltd (ASX: CXO), an Australian lithium miner, is thrilled to announce that its Finniss Lithium Operation (Finniss), located near Darwin in the Northern Territory, is ready for export with its first lithium concentrate cargo for long-term offtake agreements. Additionally, Core is set to ship its initial parcel of lithium fines from the Darwin Port.
Highlights:
Core is preparing to ship a 10,000-ton parcel of spodumene concentrate, marking the third shipment under long-term offtake agreements. The concentrate will be sent to Ganfeng Lithium, a foundation customer.
The product meets the contractual specifications and has been well received by Ganfeng.
In addition to the concentrate shipments made in April and July with Sichuan Yahua, Core has successfully concluded negotiations for the sale of an initial parcel of fines from the Finniss operations.
Over 13,000 tons of fines, with an average grade of 1.
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2% Li2O, have been transported to Darwin Port for export in early September. The remaining balance of the fines shipment will be delivered to the port in the coming days.
Core's successful sale of fines, which are generated during the crushing and processing of ore through the Dense Media Separation Plant, provides a viable commercial outlet for this material.
Core Lithium CEO Gareth Manderson expressed his excitement about delivering concentrate into long-term offtake agreements, considering it a significant milestone as the company progresses towards commercial operations at the Finniss Lithium Operation. Manderson noted that the product's quality, measured by moisture and grade, complies with contractual specifications.
The shipment of the first fines cargo to Darwin Port is also a cause for celebration, representing an additional agreement with a valued customer. The decision to sell lithium fines was made to address lower recoveries experienced during the ramp-up phase. Core remains dedicated to recovery optimization initiatives and is optimistic about the encouraging results from the ongoing recovery improvement trials.
Manderson concluded by stating that delivering the first concentrate into long-term offtake agreements and the sale of the first fines are both significant milestones. He commended the Core team for their diligent efforts in safely producing and delivering these products. As Core Lithium continues its trials and long-term studies into plant optimization, the company looks forward to providing further updates to the market.
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