Australian producer Core Lithium has sold its 5,100t spodumene stockpile to global producer Glencore to raise funds for a potential restart of the 205,000 t/yr Finniss mine in Australia's Northern Territory (NT).
Glencore will buy Core's spodumene stockpile for $2,023/t on a cif China and 6pc lithium oxide (Li2O) basis, Core told investors on 26 February. The deal does not include Core's 75,000t lithium fines stockpile, which remains available for future sales, the company added.
Core scrapped a spodumene offtake deal with Chinese producer Gangfeng Lithium in September 2025, freeing up all future Finniss output for new spot sales and offtake deals, it said at the time. The move was aimed at helping the company raise capital for a Finniss restart.
Core moved Finniss into care and maintenance in July 2024 because of low lithium prices. Argus' lithium concentrate (spodumene) 6pc Li2O fob Australia price was assessed at $909/t on 30 July 2024.
But the price has increased since then. It was last assessed at $2,012/t on 24 February 2026, up from $844/t on 25 February 2025.
Recent lithium price increases have also prompted other producers to consider mine restarts.
Australian producer Mineral Resources is exploring plans to restart its now-dormant Bald Hill mine but has not made a restart decision yet. The company closed Bald Hill in November 2024 because of low lithium prices.
