Core Lithium has struck a deal to sell part of its lithium fines stockpile, as the Australian miner looks to strengthen cash flow ahead of a planned operational restart at its Finniss operations in the Northern Territory.
The company announced it has entered a binding agreement with strategic partner Glencore International AG to sell approximately 20,000 tonnes of lithium direct shipping ore (DSO) to help support the restart of the project, which received a final investment decision in March.
The restart program positions Finniss as a lower cost, long-life lithium operation with strong economic fundamentals with a 20 year mine life and annual production capacity of 214,000 tonnes.
The transaction represents only a partial drawdown of Core’s current inventory, with roughly 55,000 tonnes still available. The company said it is actively exploring options to monetise the remaining stockpile.
Managing director Paul Brown said the deal allows Core to generate immediate cash from existing material while maintaining flexibility for future sales.
“Completing this transaction with Glencore, one of Core’s strategic partners, demonstrates the value of these relationships in providing execution certainty and market access when opportunities arise,” he said in a statement.