Core lines up first European sales deal
ADELAIDE’s Core Lithium has signed a non-binding agreement to supply its first European offtake partner, Transamine Trading.
The term sheet – subject to due diligence from both parties – paves the way for a binding agreement later this year, which would see Core supply 50,000 tonnes per annum of lithium concentrate for an initial period of five years. The company, which wants to be Australia’s next lithium producer, is gearing up to have its Northern Territory mine project “construction-ready” by the middle of the year.
The company last year completed a definitive feasibility study on its Finniss Project near Darwin, which showed that an open-pit mining project costing $73 million would have strong cashflow and a payback of just 1½ years.
Core Lithium managing director Stephen Biggins said Geneva-based Transamine had recognised the company could become an efficient and reliable supplier of high-quality spodumene concentrate with the support of the NT government.