Core Lithium has signed a binding agreement for the sale of its remaining spodumene concentrate stockpile from the Finniss Lithium Project to Glencore International.

The Finniss Lithium Project is situated 88km south of Darwin Port on a sealed road, in Australia's Northern Territory. The project covers an area exceeding 500km².

The sale, which involves approximately 5,100 dry metric tonnes (dmt) of spodumene concentrate, is set at a fixed price equivalent to the Fastmarkets SC6 CIF China rate of $2,023/dmt at the time of transaction.

Payment for the stockpile is anticipated in the June quarter of 2026.

The transaction will utilise the existing logistics chain from the Finniss project to Darwin Port, a move seen as crucial for building momentum ahead of a potential restart of operations.

Currently, a lithium fines stockpile of around 75,000dmt remains available at the site.

Core Lithium CEO Paul Brown said: “The strategic sale of the concentrate stockpile provides important additional funding and market engagement to support our restart strategy, while also remobilising the Finniss logistics chain from the site through to Darwin Port.

“The sale price reflects the recent strength in the lithium market and is more than 50% higher than the price used in our May 2025 Restart Study.

“The recent inbound interest received for purchasing our stockpiled material reflects the high-quality, coarse-grained nature of the Finniss concentrate, which was well received by offtake customers during the first phase of operations. This outcome helps build confidence in achieving an outcome in our strategic funding process, to support a final investment decision and a restart of operations at Finniss.”

The stockpile was created in 2024 when operations were halted due to an 85% drop in spodumene concentrate prices.