Tesla supplier Core Lithium Ltd. recently provided a development update on its Finniss Project located near Darwin in the the Northern Territory of Australia. Tesla inked an agreement with the Australian Lithium producer earlier this year.

"The Finniss Project is progressing well and remains on track to ship first spodumene concentrate by the end of CY 2022, subject to the successful ramp-up of the Grants open pit, DMS plant and crusher and no further COVID-19 or weather-related delays," stated Core Lithium in its development update.

Tesla signed a Term Sheet agreement with the Australian lithium producer in March. The two companies aim to finish negotiations and execute a definitive product purchase agreement by August 27, 2022. Core’s development update may provide Tesla with more information about the Finniss Project before signing a product purchase agreement.

Core noted that the project’s mining activity has accelerated since the beginning of the dry season. The Australian Lithium producer has commissioned an additional excavator and more trucks to the site, further accelerating mining activity.

Besides Core, Tesla also signed a 5-year Lithium supply deal with Australia’s Liontown Resources, which is expected to commence in 2024. At the last earnings call, Elon Musk stated Tesla believes Lithium will be a limiting factor to its production and overall goals. Tesla is considering the idea of mining Lithium directly.

Source: Re-posted and Summarized from Maria Merano at teslarati.

My Take: Elon is going to need all the Lithium, he can get.

Re Posted From: Tesla Lithium supplier remains on track

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Tesla supplier Core Lithium Ltd. recently provided a development update on its Finniss Project located near Darwin in the the Northern Territory of Australia. Tesla inked an agreement with the Australian Lithium producer earlier this year.

"The Finniss Project is progressing well and remains on track to ship first spodumene concentrate by the end of CY 2022, subject to the successful ramp-up of the Grants open pit, DMS plant and crusher and no further COVID-19 or weather-related delays," stated Core Lithium in its development update.

Tesla signed a Term Sheet agreement with the Australian lithium producer in March. The two companies aim to finish negotiations and execute a definitive product purchase agreement by August 27, 2022. Core’s development update may provide Tesla with more information about the Finniss Project before signing a product purchase agreement.

Core noted that the project’s mining activity has accelerated since the beginning of the dry season. The Australian Lithium producer has commissioned an additional excavator and more trucks to the site, further accelerating mining activity.

Besides Core, Tesla also signed a 5-year Lithium supply deal with Australia’s Liontown Resources, which is expected to commence in 2024. At the last earnings call, Elon Musk stated Tesla believes Lithium will be a limiting factor to its production and overall goals. Tesla is considering the idea of mining Lithium directly.

Source: Re-posted and Summarized from Maria Merano at teslarati.

My Take: Elon is going to need all the Lithium, he can get.

Re Posted From: Tesla Lithium supplier remains on track

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