The second spodumene concentrate parcel from Core Lithium has arrived at Darwin Port, and ship loading will start today. The agreements to sell 18,500 tonnes of spodumene concentrate to Sichuan Yahua will be completed with the shipping of roughly 13,100 tonnes.
The second cargo of spodumene concentrate from the Finniss Lithium Operation will begin loading at the Darwin Port today, which is great news for Australian lithium producer Core Lithium Ltd (ASX: CXO).
The Silver Lady will depart for the Chinese port city of Zhangjiagang once loading is complete on July 12.
About 13,100 metric tonnes of spodumene concentrate, the remainder of the 18,500 metric tonnes supplied to Sichuan Yahua for commissioning and first production under ‘additional sales agreements’ announced in March 2023, will be shipped to the Chinese company.
In April, Core received an 80% prepayment for the 15,000 tonne shipment and a 90% prepayment for the 3,500 tonne shipment under the conditions of the contracts.
Payment in full has been made for the 3,500 tonne cargo previously shipped, and the remaining balance of the purchase price for the cargo currently being shipped will be paid shortly after departure, the company stated.
The Fastmarkets (spodumene 6% CIF China) pricing was used in the sales of both cargoes, which were FOB. These cargoes were sold on top of the 300,000 tonne spodumene concentrate offtake deal that had already been established with Yahua.
Gareth Manderson, the CEO of Core Lithium, said:
Core Lithium second spodumene concentrate shipment was produced and delivered to the Darwin Port on-schedule, marking an important milestone for Core Lithium Finniss Project and will complete the additional sales agreements with our foundation customer Sichuan Yahua. As we ramp up to steady-state operations at Finniss, our focus now is on the reliable production and delivery of spodumene concentrate to our long-term offtake partners.
About Core Lithium
The Finniss Lithium Operation is owned and operated by Core Lithium Ltd (ASX: CXO), a hard-rock lithium mining business based in Australia. The operation is located on the Cox Peninsula, 88 km south-west of Darwin Port via sealed road. Core’s mission is to create long-term value for its shareholders through the discovery and mining of strategic minerals while maintaining the highest ethical, social, and environmental standards at all times.
