Core Lithium has announced that the inaugural 10,000t spodumene concentrate delivery into the company’s long-term offtake agreements has been loaded onto the Clearwater Bay for delivery to foundation customer Ganfeng Lithium.
The product reportedly presented well and within the Ganfeng contract specifications. This shipment follows the two concentrate shipments made in April and July under separate agreements with Sichuan Yahua.
In addition, and further to the update provided in the Quarterly Activities Report for the quarter ended 30 June 2023, Core has also negotiated the sale of an initial parcel of fines from its Finniss operations. A 15,000t parcel, with a grade of 1.2 per cent Lithium Oxide (Li₂O) has also been loaded.
The ship was loaded at Darwin Port on 7 September and is expected to discharge the cargo at ports in China in late September.
Core Lithium CEO, Gareth Manderson, said that delivering concentrate into long-term offtake agreements is a significant milestone for Core as it ramps up operations at the Finniss Lithium Operation.
“The product presents well and will be sold on a formula-based pricing mechanism linked to the lithium spot price,” Mr Manderson said.
“The sale of the lithium fines has been established to deliver a revenue stream from a previously unsold by-product. Lithium fines sales provide an immediate commercial option while plant recovery improvement work is underway.
“I am impressed with how the operations, technical, sales and marketing teams have moved quickly to realise this commercial option within a short timeframe.
“Delivering first concentrate into long-term offtake agreements, and the sale of first fines are both significant milestones, and I commend the Core team for the work they have done to safely produce and deliver these products.”
Featured image: Spodumene concentrate being loaded onto a cargo vessel. Image credit: Core Lithium.
