Core Lithium sells stockpile to Glencore, eyes Finniss restart

Bloomberg News | February 25, 2026 | 4:07 pm Battery Metals Top Companies Australia Lithium

Core Lithium’s Finniss project in northern Australia. Credit: Core Lithium

Core Lithium Ltd. has sold a stockpile of ore from its idled Finniss mine in Australia to Glencore Plc, raising cash to support a potential restart of the project.

The miner shuttered Finniss in early 2024, when it began operating at a loss as prices for lithium sank.

Core Lithium halts mining on “tough” market conditions

Commodities trader and miner Glencore will purchase around 5,100 tons of lithium concentrate at $2,023 a ton, Core said in a statement. The purchase price is 50% higher than levels used in a 2025 study exploring the mine’s potential restart.

The deal does not include a separate stockpile of lithium fines.

Prices of spodumene concentrate, produced from the type of hard-rock lithium mined in Australia, have rebounded in recent months to more than triple levels of around $600 a ton in June and July last year. The apparent recovery, after a protracted slump, has prompted miners to assess project restarts and expansions.

(By Paul-Alain Hunt)