Core Lithium Successfully Sold the First Batch of Spodumene DSO

Australian lithium miner Core Lithium has successfully completed the sale of its first batch of spodumene direct shipping ore (DSO), with a volume of 15,000 dmt at the price of $951/mt (grade 1.4%) on a CIF basis. The ore is expected to be shipped from the port of Darwin in the fourth quarter of 2022 and, taking into account logistics cycle, is expected to enter the market after manufactured as lithium salt in the first quarter of 2023. This is a tender toward several pre-screened participants active across the lithium chain.

If converted with 70% concentrate recovery rate, this batch of SDO equals to 300 mt of LCE, and the converted cost per tonne of lithium carbonate would be around $434,000.

Mr. Gareth Manderson, Core's Chief Executive Officer, said, "The completion of the spodumene DSO auction is a very good result for Core and indicates very strong demand for lithium."

In addition, Core recently announced that Ganfeng New Energy Technology has sold some of its shares in Core, a move that will remove Ganfeng Lithium as one of Core's major shareholders.