Why it matters: Core Lithium is the country’s newest lithium exporter in May
Its strategy is to build multiple, smaller mines rather than one large project
Shares slumped on news that new mine construction will take longer than expected
Core Lithium’s plan to develop multiple small, adjacent mines will take longer than expected to deliver, sparking a 15 per cent slump in Australia’s second most shorted stock on Monday.
Core became Australia’s newest lithium exporter in May and published official volume guidance for the first time on Monday when it told investors it would sell between 90,000 tonnes and 100,000 tonnes of lithium-rich spodumene concentrate through Darwin port in the year to June 2024.
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Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com
