Core Lithium

Core Lithium Limited (ASX: CXO), headquartered in Perth, is an Australian mining firm focused on lithium exploration and production, owning the Finniss Lithium Operation. It provides high-quality spodumene concentrate essential for lithium-ion batteries used in electric vehicles and renewable energy systems.

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Core Lithium Limited is an Australian mining company specializing in the exploration, development, and production of lithium, a critical mineral essential for the global transition to renewable energy and electric vehicles. Headquartered in Perth, Western Australia, Core Lithium is the 100% owner of the Finniss Lithium Operation, Australia’s newest lithium mine and the only one located outside of Western Australia. Strategically positioned just 88 kilometers from Darwin Port, the Finniss operation benefits from exceptional logistics, enabling efficient export of spodumene concentrate to global markets.

In addition to its flagship project, Core Lithium holds a diverse portfolio of exploration tenements across the Northern Territory and South Australia, targeting lithium, base metals, rare earth elements, gold, and uranium. The company is committed to sustainable and responsible mining practices, emphasizing environmental stewardship, safety, and community engagement. Core Lithium plays a vital role in the battery value chain by supplying high-quality lithium raw materials, supporting the production of lithium-ion batteries used in electric vehicles and energy storage systems.

Battery Technology

While Core Lithium does not directly develop battery technology, it is a critical supplier of spodumene concentrate, a key raw material for lithium-ion batteries. Spodumene concentrate is processed into lithium hydroxide or lithium carbonate, which are essential components in the cathodes of lithium-ion batteries. These batteries power electric vehicles, renewable energy storage systems, and consumer electronics, making Core Lithium a vital contributor to the global decarbonization effort.

The company’s Finniss Lithium Operation produces high-grade spodumene concentrate, which is in high demand due to its suitability for battery production. By focusing on sustainable mining practices, Core Lithium ensures that its lithium supply chain aligns with the growing emphasis on ethical and environmentally responsible sourcing. This positions the company as a strategic partner for battery manufacturers and automakers seeking to meet sustainability goals while addressing the increasing demand for lithium.

Recent Projects

Core Lithium has made significant progress in recent years, particularly with its Finniss Lithium Operation. In 2023, the company achieved its maiden profit, generating $50.6 million in revenue from its first sales of direct shipping ore and spodumene concentrate. The company also reported a net profit after tax of $10.8 million, marking a successful transition from exploration to production.

Recent highlights include ongoing studies at the BP33 deposit, part of the Finniss project, where Core Lithium is optimizing underground mining designs. A final investment decision for BP33 is expected in early 2024. Additionally, the company has been conducting regional exploration programs at sites such as Anningie, Barrow Creek, and Shoobridge, aiming to expand its resource base and identify new lithium deposits.

Investors

Core Lithium has attracted a diverse group of investors, including institutional shareholders and individual stakeholders. Notable investors include Leendert Hoeksema, who holds 2.893% of the company’s shares, and State Street Global Advisors, Australia, Ltd., which owns 2.314%. Other significant shareholders include FINCLEAR SERVICES PTY LTD and Netwealth Investments Ltd.

The company is also supported by institutional investors such as Vanguard Total International Stock Index Fund and Global X Lithium & Battery Tech ETF, reflecting strong confidence in Core Lithium’s growth potential and strategic position in the lithium market.