Core Lithium Ltd

Core Lithium began as a junior explorer focused on lithium assets in Australia and was listed on the ASX in 2016. In the same year, it discovered lithium at Finniss and the project has grown ever since. Its growth accelerated after acquiring key tenements in the Northern Territory, including the Finniss Project. Key moments came when a DFS was issued in 2022 and when production began in 2023. Unfortunately, the company suspended production in less than a year due to poor lithium prices. The price of spodumene concentrate – lithium ore in layman’s terms – plunged 86% throughout 2023. Despite suspending production, the company continued to sell stockpiled ore and continued exploration work. And in 2025, it unveiled plans to re-start production, releasing what was effectively an updated DFS. This updated DFS cut mining costs by 40%, processing costs by 33% and increased concentrate production by optimising the plant and simplifying the flowsheet without major capital. Pre-production capex was reduced by 29% to $175–200m from $282m. It anticipated a 20-year mine life with an average concentrate produced of 2,911kt. In March 2026, the company told investors it made a Final Investment Decision to recommence production and secured a US$120/A$170m funding package for this purpose, a package granted by a consortium headlined by Glencore which separately entered into a distribution agreement with CXO.