- Argosy Minerals (AGY) has advised the development of its Rincon Lithium Project is on track, with 10 per cent of construction complete
- The company currently holds a 77.5 per cent stake in the project in Argentina’s Salta Province and is working towards a 90 per cent interest
- The 2000 tonnes per annum processing plant is set to commence commercial production of battery-grade lithium carbonate by mid-next year
- Shares last traded at 9.3 cents on April 19, 2021
Argosy Minerals (AGY) has advised the development of its Rincon Lithium Project is on track, with 10 per cent of construction complete.
The company currently holds a 77.5 per cent stake in the Puna Mining S.A., the joint venture entity which owns the project in Argentina’s Salta Province. However, Argosy has the right to secure a 90 per cent interest in Rincon by funding stage three development.
“The company’s Puna operations team have started positively with the 2000 tonnes per annum (tpa) lithium carbonate production operation construction and development works,” said Argosy Managing Director Jerko Zuvela.
The processing plant is being constructed to produce greater than 99.95 per cent purity lithium carbonate, suitable for sale into the lithium-ion battery and electric vehicle industry supply chain.
Major works at the site which have been advanced since late February include plant construction, equipment installation, earthworks and site construction and expansion of the brine system.
Argosy is aiming to complete the construction phase of development works in early 2022 and to commence commercial production by mid-year.
“We are excited as we continue our works to transform Argosy into a battery quality lithium carbonate producer and cashflow generator, and further progress toward the 10,000tpa enlarged commercial scale development,” said Jerko.
“We look forward to a significant near-term growth phase with increasing development activity at the Rincon Lithium Project.”
Shares last traded at 9.3 cents on April 19, 2021.