Argosy Minerals Limited (ASX: AGY) has reported that 53% of total construction works is now complete for the development of the modular 2,000tpa lithium carbonate production operation at the Rincon Lithium Project, located in Salta Province, Argentina.
The company remains on schedule to achieve first production of >99.5% battery quality lithium carbonate product from mid-2022.
The 2,000tpa production operation major works comprise three main phases of works, comprising design, construction and commissioning.
The design phase works (including engineering layout) are complete (100%), the construction phase is currently at 55% completion, whilst plant commissioning works (comprising raw materials acquisition and tender works) are 13% complete.
The construction phase comprises the process plant, equipment and associated installations, earthworks and site construction (including additional camp development and associated site infrastructure), and expansion of the brine system (pumping station, plant settling ponds) are progressing on budget and schedule, with;
- 99% of earthworks/land movements completed;
- 86% of site works completed (comprising site camp/accommodation, laboratory, office, and other works);
- 73% of the brine system completed (comprising pumping station and plant settling ponds works);
- 48% of the process plant completed (comprising plant equipment acquisition and plant warehouse works); and
- 45% of utilities and associated services (comprising vapour system, communication system and ancillary services works).
Managing Director, Jerko Zuvela, said the company is progressing toward successfully developing the modular 2,000tpa operation and become a commercial battery quality Li2CO3 producer.
“The company’s Puna operations team continue making significant progress on construction and development works, toward commencing 2,000tpa lithium carbonate production operations at our Rincon Project,” Mr Zuvela said.
“With lithium market activity and lithium carbonate prices further increasing to record levels, and Argosy emerging into a battery quality lithium carbonate producer and cashflow generator and also progressing with the following stage 10,000tpa project development expansion.
“We look forward to a significant near-term growth phase and achieving our upcoming target of initial stage 2,000tpa production operations this year at our Rincon Lithium Project.”
Upcoming project works will focus on advancing the brine system and associated infrastructure, plant equipment delivery, and building the on-site office and laboratory, with significant progress to be made over coming months.
Upon completion of the construction phase works, the plant commissioning works, and production test-works and ramp-up to 2,000tpa operations will follow immediately thereafter.
For further information please visit: https://www.argosyminerals.com.au/
