PERTH (miningweekly.com) – Lithium developer Core Lithium on Thursday announced that shareholder Ganfeng New Energy Technology Development had divested of some of its interest in the ASX-listed company.
Ganfeng previously held a 5% interest in Core, and has a 300 000 t/y binding offtake agreement in place with the lithium developer.
“The decision to divest a portion of our Core shareholding was driven by portfolio weighting considerations and the opportunity to monetise a portion of the investment,” said Ganfeng vice chairperson Wang Xiaoshen.
“We remain a supportive partner of Core by virtue of our existing shareholding and binding offtake arrangement and look forward to seeing Finniss progress towards first commercial production.”
Core on Thursday said that it appreciated the support of Ganfeng as an existing offtake partner and shareholder since Ganfeng subscribed for shares in a placement at a price of 33.8c in August 2021.
Since then, Core has advanced the Finniss project into the construction phase and remains on schedule to deliver first lithium spodumene concentrate production in the first half of 2023.