Australian resource company Argosy Minerals (ASX:AGY) reports it has produced 1 tonne of ‘battery-quality’ lithium carbonate at the Rincon Lithium Project in Argentina.
The company says the product produced is graded at 99.76% lithium carbonate. Argosy also reports the development of the Rincon Lithium Project is nearly complete, with 98% of the total works now complete for the development of the 2,000 tonnes per annum (tpa) lithium carbonate production operation.
Furthermore, this includes the commissioning work which the company reports is 90% complete.
Argosy Minerals Managing Director Jerko Zuvela says: “The company has achieved momentous growth and development at our Rincon Lithium Project 2,000tpa operation during 2022 as we advance towards becoming the second ASX-listed commercial scale lithium carbonate producer.
“The company has achieved momentous growth and development at our Rincon Lithium Project 2,000tpa operation during 2022″
The company will now look to complete the 2,000tpa operation commissioning works and progress with ramping-up toward steady-state production operations and producing battery quality lithium carbonate products.
We look forward to achieving many more ‘significant’ milestones in 2023 as we transform into a cash flow generator, capitalising on lucrative lithium carbonate prices via upcoming product sales revenues, leading to a ‘significant’ near-term growth phase for the company.”
Argosy reports the current commissioning and production testwork phase is scheduled to be completed over the coming weeks, which will then lead to the product ramp-up phase during the current quarter.
The company states it is targeting to complete the ramp-up phase and achieve steady-state production operations by the end of the second quarter of 2023.
Argosy also states it has completed 100% of raw materials procurement, 100% of operations personnel recruitment and development, and has also completed 85% of plant and equipment commissioning tests.
Argosy Minerals is an Australian resource company with a 77.5% interest in the Rincon Lithium Project, located in the Salta Province of Argentina. This project is held under a joint venture with Puna Mining S.A which holds 100% of the mining titles.
The company also wholly owns the Tonopah Lithium Project in Nevada, US.
Images: Argosy Minerals Limited
