(Kitco News) - Argosy Minerals (ASX: AGY) today reported that 98% of the total works completed for the development of the 2,000tpa lithium carbonate production operation at the Rincon lithium project in Argentina.
The company said that current plant commissioning works are 90% complete, have produced 1 tonne of battery quality lithium carbonate product, and have advanced toward full integration of plant and systems commissioning, and progressing toward the production ramp-up phase.
Argosy added that the current commissioning and production test-works phase is scheduled to be completed over coming weeks, leading to then commencing the production ramp-up phase during the current quarter.
The company is targeting to complete the ramp-up phase and achieve steady-state production operations by end of Q2 CY2023.
Importantly, Argosy noted it is on-track to become only the second ASX-listed battery quality lithium carbonate producer.
"Argosy is well positioned to take advantage of current and near-term lithium prices via the 2,000tpa production operations, with the S&P Platts lithium carbonate price CIF North Asia recently trading at US$75,000/t," the company said in a statement.
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" - and its fast-track development strategy toward production of LCE product.
|
| Piedmont Lithium amends its offtake agreement with Tesla |
