Australia's Core Lithium to buy Bynoe project

Spanish Market: Metals
19/06/26

Australian producer Core Lithium will buy 100pc of the Bynoe lithium project, located in the Northern Territory, from developer Charger Metals, both companies said today.

Core will buy the 63km² site from Charger for A$3.75mn ($2.63mn) in cash. The site surrounds the Core's recently restarted 214,000 t/yr Finniss project and is 9km away from its lithium concentration plant.

Core will pay a further A$1mn in cash if the Joint Ore Reserves Committee inferred mineral resource reaches 8mn t or more at a minimum grade of 1pc lithium oxide, pending further drilling. Core will also pay a 1pc royalty to Charger on all gross revenue generated from the tenement, capped at A$10mn, Core said on 19 June. The reserves committee is the accreditation body for Australian mineral resources and reserves.

Core's existing Blackbeard prospect is located within the Bynoe project. The company is also developing the contiguous Carlton and BP33 prospects. These exploration sites offer growth options for Core given that spodumene prices have risen sharply in the past 12-months. They may also extend Finniss' 20-year mine life.

Argus assessed 6pc spodumene fob Australia at $2,346.50/t on 17 June, up by 323pc on the year.

Charger originally bought the Bynoe project from battery recycler Livium for $500,000 in 2024. Charger plans to use revenue from the sale to develop its Lake Johnston lithium project in Western Australia state.

By Daniel Gage-Brown

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Brazil’s central bank cuts target rate to 14.25pc

17/06/26

Brazil’s central bank cuts target rate to 14.25pc

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US Fed holds rate steady, signals hike this year

17/06/26

US Fed holds rate steady, signals hike this year

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EU FeSi trends lower as safeguard quotas left unfilled

17/06/26

EU FeSi trends lower as safeguard quotas left unfilled

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GCC steel trade sees slow recovery

17/06/26

GCC steel trade sees slow recovery

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