Core Lithium settles Yahua offtake deal - Australian Mining

Core Lithium shares charge higher on big news

Core Lithium Ltd (ASX: CXO) shares are on the move on Monday. At the time of writing, the lithium miner's shares are up over 4% to 7.3 cents. Why are Core Lithium shares jumping? Investors have been bidding Core Lithium's shares higher today after it reached a settlement agreement with Chinese firm Yahua International Investment and Development Company. This potentially paves the way for the restart of its Finniss Lithium Operation in the Northe…

Core Lithium settles Yahua offtake deal - Australian Mining

Core Lithium has terminated a legacy offtake agreement it held with Yahua International via a legally binding deed of release, with Core paying $US2 million in cash as part of the settlement.

Core Lithium to cough up US$2M to cancel offtake deal; says good for restart

Core Lithium (ASX:CXO) has revealed the cost of cancelling its binding offtake agreement with Chinese Yahua Co – a sweet US$2M (A$3.1M). The settlement payment to release the contract comes after it was signed in 2019; updated again in 2022, and then as lithium prices collapsed shortly thereafter. it was simple economics that caused prices to tumble: attracted by high margins, many producers began mining lithium, boosting supply, therefore pushi…