The second shipment of spodumene concentrate from Core Lithium’s Finniss Lithium Operation, weighing in at approximately 13,100t, is due for shipment to China from the Northern Territory.
Upon completion of loading, the ship – Silver Lady – will sail from Darwin Port to Zhangjiagang, China.
The shipment of spodumene concentrate will complete the sales agreement with Sichuan Yahua (Yahua) under “additional sales agreements” announced in March 2023.
In accordance with the terms of the agreements, Core received a 90 per cent payment for the first parcel of approximately 3,500t, and an 80 per cent prepayment for the 15,000t tonne parcel delivered in April. The final payment for the 3,500t cargo has been settled, and the balance of the purchase price for the current cargo will be settled soon after shipment . Both shipments were sold on free on board (FOB) basis and are linked to the Fastmarkets (spodumene six per cent CIF China) price.
Core Lithium’s CEO, Gareth Manderson, said, “Core’s second concentrate shipment was produced and delivered to the Darwin Port on schedule, marking an important milestone for Core and Finniss 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,” Mr Manderson said.
The shipments were sold in addition to the existing off take agreement with Yahua for the sale of 300,000t of spodumene concentrate.
