20 Metric Tonne Of High Purity Li2CO3 Headed To Korea
Argosy Minerals Limited (ASX: AGY) has signed a Spot Sales Contract with Korean chemical company Y. N Chemical Co. Ltd (YNCC), for the sale of 20 metric tonnes of high purity battery quality lithium carbonate product.
The material will be produced at the company’s industrial scale pilot plant at the Rincon Lithium Project in Salta Province, Argentina.
The Sales Contract agreed fixed price equates to the current S&P Global Platts’ assessed battery-grade lithium carbonate CIF North Asia price.
YNCC successfully completed pre-shipment product sample testing, where they achieved analysis results confirming a very high purity battery quality Li2CO3 product with very low impurity levels and have advised the excellent purity is suitable for battery electrolyte applications and multiple other battery uses, as well as other conventional requirements.
Argosy Managing Director, Jerko Zuvela, said this opens up a wide range of market options for future larger off-take arrangements into the Korean market.
“Argosy’s ability to produce high purity lithium carbonate product on an industrial scale rather than just laboratory samples is what separates Argosy’s technology expertise from all our junior peers,” Mr Zuvela said.
“Our high quality product is being recognised by customers across Asia and Europe.
“In addition, the sales price achieved is higher than many of the larger producers, reflecting the quality of and interest to secure our product.
“Argosy will continue to focus on producing a high purity battery quality product, noting other larger lithium operators are producing industrial grade product, whilst others are focusing on lower quality product due to their process technology limitations.
“Argosy’s ability to produce a high purity battery quality product is being recognised by customers and differentiates our fast-track production strategy from many of the current lithium companies trying to progress with their project development.
“With the lithium markets gaining traction recently, we are confident of a capex funding solution, and I am truly excited by the prospect of commencing construction on the ~2,000tpa plant operation, further confirming Argosy’s status on the exclusive list of international battery quality lithium carbonate product producers and exporters.” Mr Zuvela said the 20 metric tonne product sale is a pre-cursor to potential future Stage 2 off-take arrangements, noting YNCC are focussed on, and has long established business relations, purchasing lithium carbonate product from existing larger South American lithium producers.
