- Argosy Minerals (AGY) has nearly completed a quarter of the construction works for the processing plant at its Rincon Lithium Project
- The 2000-tonnes-per-annum (tpa) operation in Argentina’s Salta Province is on track to achieve first battery-grade lithium carbonate production by mid-2022
- Meanwhile, Argosy is continuing strategic investment discussions for fund of the subsequent 10,000tpa project expansion
- Shares closed at 9.9 cents on June 3, 2021
Argosy Minerals (AGY) has completed 24 per cent of the total construction works for the lithium processing plant at its Rincon Project in Argentina’s Salta Province.
The plant will have a 2000-tonne-per-annum production capacity, and the company affirms it is on track to achieve first production of battery-grade lithium carbonate by mid-next year.
“We are excited as we continue our works to transform Argosy into a battery quality lithium carbonate producer and cashflow generator, and to further progress the 10,000tpa project development expansion,” said Managing Director Jerko Zuvela.
“We look forward to a significant near-term growth phase from increasing development activity at the Rincon Lithium Project.”
Meanwhile, Argosy is continuing discussion with several parties in regard to possible offtake arrangements as well as capex funding for the planned project expansion.
This will take Rincon’s production capacity to 10,000 tonnes per annum of greater than 99.5 per cent purity lithium carbonate.
Shares closed at 9.9 cents on June 3, 2021.