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Argosy Minerals Ltd

Argosy Minerals begins lithium carbonate production operations at Rincon

The company has joined the exclusive list of international lithium carbonate producers.

Industrial-scale pilot plant production operations
Industrial-scale pilot plant production operations

Argosy Minerals Ltd (ASX:AGY) has commenced lithium carbonate (Li2CO3) production operations from its industrial-scale pilot plant, part of the Rincon Lithium Project in Salta Province, Argentina.

The production operations comprise the continuous processing of concentrated lithium brine, sourced from the evaporation ponds at the project area using Argosy’s proprietary chemical process to produce a 99.5% lithium carbonate product.

The company will produce and store the Li2CO3 product until ready for shipment, then arrange the transport of product parcels for sale under the sales agreement executed in March 2019.

READ: Argosy Minerals surges 65% after sealing offtake deal with Mitsubishi Corporation

Argosy managing director Jerko Zuvela said: “Yesterday was a memorable and significant achievement for the company – becoming a small-scale lithium carbonate production company in South America.

“I can’t understate the enormous contributions and expertise of all our staff to reach this milestone in such a short timeframe.

Laboratory analysis and quality control testing area

“We are at a distinct advantage to our peers - having successfully proven our chemical processing capability in producing 99.5% lithium carbonate product and secured a reputable international customer to purchase our product.

“We are excited to continue progressing with our fast-track development strategy toward commercial scale production.”

 

Argosy is continuing to work towards the 2,000 tonnes per annum modular operation as the next step in the scale-up development of the Rincon Lithium Project.

In addition to expecting regulatory approvals for this stage of work in due course following recent meetings, Argosy executives will be attending strategic meetings in Japan this month to further advance interest from strategic parties for product off-take and the potential modular scale and/or full commercial project development with associated capex funding/investment.

Quick facts: Argosy Minerals Ltd

Price: $0.09

Market: ASX
Market Cap: $93.33 m
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