Argosy produces battery quality lithium carbonate in Argentina

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(Kitco News) - Argosy Minerals (ASX: AGY) announced today that it has produced battery quality 99.76% lithium carbonate product as part of the overall development towards commencing lithium carbonate production at the Rincon lithium project in Argentina.

The company said it is currently conducting commissioning and production test-works to produce battery quality lithium carbonate product from its 2,000tpa operation.

In its press release, Argosy noted that the final commissioning phase works are scheduled to be completed over coming weeks, leading to then commencing the production operations ramp-up phase during Q1-CY2023.

The company is targeting to complete the ramp-up phase and achieve steady-state production operations by end of Q2-CY2023.

Importantly, Argosy said it is on-track to become only the second ASX-listed battery quality lithium carbonate producer.

Managing Director Jerko Zuvela commented, "This is a significant milestone for the company and our onsite Puna Mining operations team, all who have been working extremely hard for this achievement. We are extremely proud to have built the 2,000tpa operation under budget and successfully proven our clean lithium process technology on a commercial scale, specially developed for our Rincon lithium project.

"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 product. The lithium market and lithium carbonate prices are forecast to continue around record highs into 2023 and beyond, resulting in very lucrative upcoming product sales revenues."

Argosy Minerals is an Australian company with a current 77.5% (and ultimate 90%) interest in the Rincon lithium project in Salta Province, Argentina and a 100% interest in the Tonopah lithium project in Nevada, USA.

The company indicated it is focused on its flagship Rincon lithium project – potentially a game-changing proposition given its location within the world renowned "Lithium Triangle" – host to the world's largest lithium resources, and its fast-track development strategy toward production of LCE product.