- Argosy Minerals (AGY) reports progress on the 2000tpa lithium carbonate facility at its Rincon project in Argentina
- The company produced 10 tonnes of battery-quality lithium carbonate in August
- Meanwhile, AGY has completed resource expansion exploration diamond drilling and is awaiting results
- Argosy is aspiring to become the 2nd ASX-listed battery-quality lithium carbonate producer
- AGY shares last traded at 25.5 cents
Argosy Minerals (AGY) is ramping up work on the 2000-tonne-per-annum (tpa) lithium carbonate facility at its Rincon project in Argentina.
In August, the company achieved a significant milestone of successfully producing 10 tonnes of high-quality lithium carbonate, a key material for batteries.
Furthermore, the completion of exploration drilling at six sites is an integral part of the company’s resource expansion efforts.
Currently, samples from these sites are undergoing laboratory analysis, with the results expected to be available by late 2023. These findings will contribute to updating the mineral resource estimate.
Argosy is proactively collaborating with government officials and regulatory bodies to expedite the approval process for its planned 10,000tpa operation.
Pre-development activities for the 10,000tpa facility are currently underway, encompassing various aspects such as planning, engineering, procurement, recruitment, renewable energy sourcing, and water drilling operations.
Additionally, Argosy is advancing discussions with a strategic partner to secure funding and establish long-term off-take arrangements in connection with the 10,000tpa expansion.
“Our Puna operations team is making excellent strides in commissioning the 2,000tpa operation and has already produced 10 tonnes of battery-grade lithium carbonate,” AGY Managing Director Jerko Zuvela said.
“We look forward to achieving further milestones as we work towards realizing the full potential of the Rincon lithium project.”
AGY shares last traded at 25.5 cents.