Argosy lands final approval for Rincon expansion

Argosy Minerals (ASX:AGY) has received environmental impact assessment (EIA) approval to expand lithium carbonate production at its Rincon Lithium Project in Salta Province, Argentina.

The approval, handed to Argosy by the Salta Province Government and the Secretary of Mining and Energy, confirms the company has all the necessary approvals required to develop a 10,000-tonnes-per-year expansion operation at Rincon. 

Argosy will now focus on advancing its pre-development engineering work, which is currently being conducted in preparation for the financial investment decision. 

Managing Director Jerko Zuvela says the company has been undertaking extensive work on the EIA process to prove the long-term sustainability of the project. 

“The company can confidently advance its strategic partner process, with the EIA approval providing significant de-risking for a potential strategic group to become involved in realising the development of the next 10,000tpa stage of our Rincon Project,” Zuvela says. 

The company adds it will also accelerate the strategic partner process to secure funding via prepayment investment associated with long-term offtake arrangements from a tier one counterparty in the electric vehicle supply chain. 

Argosy Minerals is an Australian company focused on its lithium assets in Argentina and Nevada, US. 

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Images: Argosy Minerals
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Written By Oliver Gray
Originally from Perth, Oliver has a keen interest long-form journalism. He has written for a number of publications and was most recently Contributing Editor of The Market Herald’s opinion section, Art of the Essay.