Core Lithium resumes Finniss mining as lithium prices recover
2026-05-21 15:16:25 [Print]
Core Lithium has recommenced mining at its Finniss lithium operation in Australia's Northern Territory, as a rebound in lithium prices encourages producers to bring idled projects back online.
The company said on May 20 that blasting and earthmoving are in progress, with first shipments of spodumene concentrate pencilled in for the December quarter. The restart is proceeding in stages after Core Lithium secured a A$290 million funding package. Finniss was placed on care and maintenance in 2024, following the sharp price downturn that began in late 2022.
Earlier this year, Core Lithium sold an ore stockpile to Glencore to raise cash for a potential restart.
Lithium is derived from hard-rock spodumene. Spodumene concentrate prices have surged since mid-December, touching their highest level in more than two years this month, though they are still far below the record peaks of late 2022.
The restart adds to mounting evidence of a broader recovery across the lithium sector, after a prolonged slump pushed miners to suspend operations and slash spending.
The company said on May 20 that blasting and earthmoving are in progress, with first shipments of spodumene concentrate pencilled in for the December quarter. The restart is proceeding in stages after Core Lithium secured a A$290 million funding package. Finniss was placed on care and maintenance in 2024, following the sharp price downturn that began in late 2022.
Earlier this year, Core Lithium sold an ore stockpile to Glencore to raise cash for a potential restart.
Lithium is derived from hard-rock spodumene. Spodumene concentrate prices have surged since mid-December, touching their highest level in more than two years this month, though they are still far below the record peaks of late 2022.
The restart adds to mounting evidence of a broader recovery across the lithium sector, after a prolonged slump pushed miners to suspend operations and slash spending.
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