ASX-listed production and development company Core Lithium (ASX:CXO) reports its maiden Finniss Lithium shipment has started its voyage from the Port of Darwin in the Northern Territory and is enroute to a customer in China.
The company says the ship Rossana was loaded with about 15,000 dry metric tonnes (DMT) of 1.4% lithium (Li2O) spodumene Direct Shipping Ore (DSO) that was supplied from its flagship Finniss Lithium Operation located south of Darwin.
Core Lithium also notes the shipment marks the company’s first revenue event.
Commenting on the shipment Core Lithium Chief Executive Officer (CEO) Gareth Manderson says: “I am proud of the Core team and our contract partners for safely delivering this ‘significant’ milestone in our company’s history.
“This first shipment of lithium product has also allowed our team to successfully commission the logistics chain linking Finniss to the Darwin Port.”
This first shipment of lithium product has also allowed our team to successfully commission the logistics chain linking Finniss to the Darwin Port.
Our focus now is to safely complete construction of the dense media separation (DMS) plant at Finnis to enable us to produce high-quality spodumene concentrate.”
Core also reports that the DSO cargo was tendered in October 2022 using a digital exchange platform and purchased by a lithium-ion battery supply chain participant in the Chinese city of Fangcheng for a price of about US$951/dmt.
Loading of the cargo is reported to have commenced on 30 December 2022.
Core Lithium is an Australian hard-rock lithium mining company that has a vision of generating sustained value for shareholders from critical minerals exploration and mining projects underpinned by strong environmental, safety and social standards. The company owns and operates the Finniss Lithium Operation, which is located in the Northern Territory’s Cox Peninsula.
The project is situated southwest and about 88km by sealed road from the Darwin Port and currently boasts a JORC 2012 compliant Mineral Resource Estimate (MRE) of 15 million tonnes at 1.3% Li2O.
Other assets included within Core Lithium’s arsenal include the Anningie and Barrow Creek Lithium Projects in the Northern Territory, as well as various copper, lead, uranium, base metal, silver, and zinc tenements located across the Northern Territory and South Australia.
Images: Core Lithium Ltd
