Lithium Ore Sale Revives Hope for Finniss Mine

Core Lithium Ltd. has taken a significant step towards potentially reopening its Finniss mine in Australia by selling a stockpile of ore to Glencore Plc. The miner had idled the Finniss operation in early 2024, citing operational losses amid a substantial drop in lithium prices.

Commodities trader Glencore will acquire roughly 5,100 tons of lithium concentrate for $2,023 per ton. This transaction price is notably higher than projections used in a 2025 study that explored the mine's potential restart. The deal specifically excludes a separate stockpile of lithium fines.

The market for spodumene concentrate, essential for hard-rock lithium mining in Australia, has seen a robust recovery. Prices have more than tripled from levels around $600 a ton experienced in the summer of 2025. This resurgence has encouraged miners to re-evaluate restarting and expanding their projects.

Separately, JPMorgan Chase & Co. CEO Jamie Dimon drew parallels between the current financial industry's competitive landscape and the period preceding the 2008 financial crisis. He expressed concern over some institutions engaging in risky lending practices solely to boost net interest income, warning of potential credit cycle downturns.

Dimon also commented on the impact of artificial intelligence, suggesting that software could be a surprise factor in the next credit cycle. While JPMorgan plans to scrutinize certain lending related to AI, Dimon indicated it would not significantly impact overall credit losses for the bank.

JPMorgan has been actively competing in the private credit market, offering substantial financing packages and securing key debt deals. Dimon sees the bank as a strong contender in the AI race. Regarding his own tenure, Dimon indicated he expects to remain CEO for "a few years" and potentially serve as executive chairman afterward, contingent on the board's decision.