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Tesla offtake deadline with Core Lithium lapses

Kitco Media
By Michael McCrae
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Australian lithium-miner Core Lithium (ASX: CXO) announced today that a definitive product purchase agreement with Tesla annnounced in August passed without the agreement being completed.

Core is advancing the Finniss Project in the Northern Territory, Australia.

"With the recent official opening of the Finniss Lithium Mine and the underwritten share placement to fund accelerated resource definition, Core is well positioned to take advantage of strong global demand and constrained lithium supply," said the company in a news release.

The sale of 15,000 tonnes of direct shipping ore (DSO) shows strong international demand for Finniss lithium, said the company. The DSO sale was tendered on a CIF basis to several pre-screened participants active in the lithium-ion battery supply chain. Demand for spodumene DSO material was strong, evidenced by the price achieved.

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Michael McCrae

Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties. He was co-founder and publisher of MINING.com, an award-winning news site. Before coming to media, McCrae worked in IT and banking. Please reach out: mmccrae@kitco.com or (514) 670-1383. You can also follow him at @michaelmccrae.

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