- Argosy Minerals (AGY) has outlined its plan to begin producing battery quality lithium carbonate at its Rincon Lithium Project from late Q2 2022
- The company currently has a 77.5 per cent interest in the joint venture which holds the project within the Salta Province of Argentina
- Argosy is constructing the 2000-tonne per annum lithium carbonate plant as part of its joint venture obligations
- To increase its ownership to 90 per cent, the company must achieve commercial production at Rincon
- The design of the process plant is future-proofed, set out in such a way as to allow for expansion to a 10,000-tonne per annum scale operation down the track
- Shares are up 9 per cent to 12 cents per share
Argosy Minerals (AGY) has outlined its plan to begin producing battery quality lithium carbonate at the Rincon Lithium Project from late Q2 2022.
The company currently has a 77.5 per cent interest in Puna Mining SA, the joint venture entity which holds the project, located at the Salar del Rincon within Argentina’s Salta Province.
Argosy is constructing the 2000-tonne per annum lithium carbonate plant as part of its joint venture obligations. To increase its ownership to 90 per cent, the company must achieve commercial production at Rincon.
As per the development schedule released today, the construction phase of works is set to be completed in early 2022. Plant commissioning, test-works and ramp-up will follow over the subsequent four months.
“The company’s Puna operations team have prepared a comprehensive and detailed work schedule, and associated timeframe for targeted production of greater than 99.5 per cent battery quality lithium carbonate product,” said Managing Director Jerko Zuvela.
“We are fully funded to transform Argosy into an exclusive producer and cashflow generator, and are completely focussed on achieving this target and establishing the pathway for continued commercial-scale development, as we become only the second ASX-listed battery quality lithium carbonate producer,” he added.
The design of the process plant is also future-proofed, set out in such a way as to allow for expansion to a 10,000-tone per annum scale operation down the track.
Shares are up 9 per cent to 12 cents per share at 10:23 am AEDT.