The Core Lithium Ltd (ASX: CXO) share price has returned to form on Tuesday.
In afternoon trade, the lithium miner's shares are up 5% to 96.5 cents.
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Why is the Core Lithium share price charging higher?
There have been a couple of catalysts for the rise in the Core Lithium share price on Tuesday.
The first is a rebound in the materials sector which has lifted a host of other ASX 200 miners such as BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO).
This has led to the S&P/ASX Materials (ASX: XMJ) index rising by 1.65% this afternoon.
What else?
Also potentially giving the Core Lithium share price a boost has been the release of an announcement.
According to the release, the second shipment of spodumene concentrate from the Finniss Lithium Operation will commence loading at Darwin Port today.
The shipment of approximately 13,100 tonnes of spodumene concentrate is destined for Zhangjiagang in China. It represents the balance of the 18,500 tonnes of commissioning and first production tonnes sold to Sichuan Yahua under additional sales agreements announced in March.
Both shipments were sold on a FOB basis and are linked to the Fastmarkets (spodumene 6% CIF China) price.
Core Lithium's CEO, Gareth Manderson, said:
Core's second concentrate shipment was produced and delivered to the Darwin Port on-schedule, marking an important milestone for Core and Finniss and will complete the additional sales agreements with our foundation customer Sichuan Yahua. As we ramp up to steady-state operations at Finniss, our focus now is on the reliable production and delivery of spodumene concentrate to our long-term offtake partners.
