A new managing director has taken the helm at Core Lithium as the company enters into a binding agreement with Glencore International AG to sell its remaining spodumene concentrate stockpile from the Finniss project in the Northern Territory.

The sale covers approximately 5100 dry metric tonnes of spodumene concentrate, reflecting a fixed SC6 (six per cent lithium) equivalent price of roughly $US2023 per tonne. Payment is expected in the June quarter.

Core Lithium chief executive officer and managing director Paul Brown said the strategic sale of the stockpile provides additional funding and renewed market engagement to support the company’s restart strategy.

“It also remobilises the Finniss logistics chain from site through to the Port of Darwin,” Brown said.

“The sale price reflects the recent strength in the lithium market and is more than 50 per cent higher than the price used in our May 2025 restart study.”

Brown, who became chief executive officer in June 2024, brings more than 25 years of experience in the resources industry, including executive leadership roles spanning operations, project development, feasibility studies and corporate management.

Core said Brown’s appointment as managing director reflects the board’s confidence in his leadership. Since joining the company, he has overseen completion of the Finniss restart study, repositioning the lithium project as a “globally competitive” and unencumbered development opportunity.

Core chairman Greg English congratulated Brown on his appointment, saying his work had demonstrated discipline and effective leadership in advancing the Finniss restart.

“His appointment to the board reflects his performance and ensures strong alignment between the company’s strategy, leadership and execution,” English said.

Brown also confirmed in February that an estimated 75,000 dry metric tonnes of lithium fines stockpiled at Finniss are not included in the Glencore agreement and remain available for sale.

“This material has significant value in the current market and also has the potential to be used as a future funding source,” Brown said.

Core also announced the appointment of Mark Hine as an independent non-executive director. Hine has previously served in similar roles at St Barbara, Broken Hill Mines, Perenti and Spartan Resources.

English said the appointments of Brown and Hine would strengthen the company as it advances Finniss towards a final investment decision and potential restart.

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