Australian Company Core Lithium Has Sold Its Inventory To Glencore.

Sydney, February 26th (Argus) - Australian producer Core Lithium has sold its 5,100 tons of lithium spodumene inventory to Glencore to raise funds for the potential restart of the Finniss mine in Australia, which has an annual production capacity of 205,000 tons.
Core Lithium stated to investors on February 26th that Glencore would purchase Core Lithium's lithium spodumene inventory at a price of $2023 per ton (6% lithium oxide content) for China's import. This transaction does not include 75,000 tons of lithium powder inventory, which is still available for future sales, the company added.
The company cancelled its lithium spodumene purchase agreement with Ganfeng Lithium in September 2025. This move enabled the full production of the Finniss project to be available for new spot sales and procurement agreements. At that time, the company stated that this move was aimed at helping the company raise funds for the restart of the Finniss project.
The recent increase in lithium prices has also prompted other producers to consider restarting mine production. The Australian mining company Mineral Resources is studying the plan to restart its now-idle Bald Hill mine, but has not yet made a restart decision. The company closed the Bald Hill mine in November 2024 due to low lithium prices.