Core Lithium Ltd (ASX:CXO) has completed its maiden shipment from the Finniss Lithium Operation in the Northern Territory headed to a customer in China.
The ship Rossana has set sail from the Darwin Port loaded with 15,000 dry metric tonnes (DMT) of 1.4% lithium spodumene direct shipping ore (DSO) from the company's Finniss operations.
This marks the first revenue event for Core as well as a significant milestone in its journey in delivering 'sustained shareholder value'.
“Significant milestone”
Core CEO Gareth Manderson said: “I am proud of the Core team and our contract partners for safely delivering this significant milestone in our company’s history.
“This first shipment of lithium product has also allowed our team to successfully commission the logistics chain linking Finniss to the Darwin Port.
“Our focus now is to safely complete construction of the dense media separation (DMS) plant at Finniss to enable us to produce high-quality spodumene concentrate.”
Shipment summary
The DSO cargo was successfully tendered in October using a digital exchange platform and purchased by a lithium-ion battery supply chain participant in Fangcheng, China, for a price of $US951/dmt.
Loading of the Rossana commenced on December 30, 2022.