Argosy Minerals Limited (ASX: AGY) has revealed battery quality 99.76% lithium carbonate product in commissioning works as part of the overall development towards commencing the 2,000tpa lithium carbonate production operation at the Rincon Lithium Project, located in Salta Province, Argentina.
The company is currently conducting commissioning and production test-works to produce battery quality lithium carbonate product from the company’s 2,000tpa operation. 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.
“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,” Managing Director, Jerko Zuvela, said.
“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 company is on-track to become the second ASX listed commercial scale lithium carbonate producer, transforming into a cashflow generator and leading to a significant near-term growth phase for the company.
“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.
“The Rincon onsite laboratory conducted the analysis works confirming the 99.76% Li2CO3 purity from a 250kg sample of lithium carbonate product produced from the current commissioning phase works.
“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$75,500/t.”
For further information please visit: https://www.argosyminerals.com.au/
