Core Lithium stops mining as price plunge takes toll
Brad ThompsonReporterJan 5, 2024 – 10.32amListen to this article3 minCore Lithium has stopped mining and warned of a big write-down on the value of its assets as the collapse in prices for the minerals used in battery manufacturing takes a heavy toll on Australian producers.
The Northern Territory’s only lithium producer told investors on Friday that it will revert to processing stockpiled ore and suspend operations at its Grants open pit mine.
The writing has been on the wall for Core since December when the company suspended work on one of Australia’s big lithium developments and warned it could halt production at the existing mine, part of a broader Finniss operations about 90 kilometres from Darwin.
Core Lithium stops mining as price plunge takes tollBrad...
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