Core Lithium Sells Last Finniss Fines to Glencore

Core Lithium Ltd (ASX:CXO) has entered into a binding marketing agreement with Glencore International AG to sell the final approximately 25,000 tonnes of lithium direct shipping ore fines from the existing fines stockpile at its Finniss Lithium Operation. The agreement carries a base price of approximately US$285 per tonne, which the company gives as approximately A$400 per tonne based on an exchange rate of AUD/USD around $0.71, on a CIF basis and based on indicative Li2O content. Core said it will ship 25,000 wet metric tonnes with the final realised price for the material based on dry tonnes, subject to customary adjustments including grade, moisture, impurities, transport differentials and other standard commercial terms typical for direct shipping ore transactions. The company said the agreement is otherwise unconditional and subject to customary terms for a transaction of this nature.

The transaction is the third sale of the lithium fines stockpile held at Finniss, following two prior sales in April and June. The shipment is scheduled for this quarter through the Darwin port, and net proceeds, which are subject to final grade adjustments and transport costs, are expected to be received in the December quarter. Core said the sale completes the monetisation of all existing stockpiles and that total lithium sales in calendar year 2026 have generated incremental revenue of approximately A$38.5 million. Managing Director Paul Brown said completing sales of the stockpiled material has been a deliberate strategy to generate additional cash and enhance financial flexibility while ramping up operations at Finniss, and that Core has reactivated the Finniss logistics chain and is well-positioned for its first spodumene concentrate shipment in the December quarter.