[SMM Lithium Carbonate Spot Assessment: LC2407 main contract continued to decline, down 3.38%]

[SMM Analysis] Separator Market Prices Remain Stable Overall

On September 8th, Core Lithium has produced first spodumene concentrate from the recommissioned Finniss processing plant in the Northern Territory, marking a milestone in the company's staged restart of the operation. Core Lithium restarted mining at the Grants openpit in May and recommissioned the crushing circuit in August to build sufficient crushed ore stockpiles for processing. First concentrate was achieved within six months of the company's final investment decision to proceed with the Finniss restart. The company has undertaken targeted upgrades to debottleneck the processing circuit and optimise recoveries, including screen refurbishments, rolls crusher enhancements and improvements to the ferrosilicon distribution system. Crushing and dense media separation operations have been consolidated into a single control room. These upgrades are expected to increase plant throughput capacity by about 20% to 1.2 million t/y. Finniss began initial spodumene concentrate production in February 2023 before being placed on care and maintenance in mid-2024 amid a downturn in lithium prices. The project has since been repositioned as a lower-cost, long-life operation with a 20-year mine life and average production of 214,000 t/y. Finniss is the only major hard-rock lithium mine operating outside of Western Australia.