Argosy Minerals Limited has provided an update on its Rincon Lithium Project in Salta Province, Argentina, saying operation commissioning and ramp-up phase works are currently underway.
According to the company, it expects steady-state production operations to commence starting in the second quarter.
Current production trials produced over 10 tonnes of battery-quality lithium carbonate products from batch operations during commissioning and ramp-up phase works.
The products have an average quality of 99.79 per cent, achieved during the company’s 2,000 tonnes per annum operations phase.
According to the company, the updated results position it to take advantage of current and near-term lithium prices via the 2,000 tpa production operations, with the Benchmark Mineral Intelligence lithium carbonate CIF Asia contract price being recently quoted as US$ 63,500 per tonne.
“The company’s Puna operations team are successfully progressing the 2,000 tpa operation commissioning and ramp-up phase works towards continuous production operations, and have produced over 10 tonnes of battery quality lithium carbonate product to date,” Argosy Managing Director Jerko Zuvela said.
He added that the milestone at Rincon designates Argosy as the second Australian Securities Exchange-listed (ASX) commercial-scale lithium producer.
The business is also “capitalising on lucrative lithium carbonate prices via upcoming product sales revenues, leading to a significant near-term growth phase for the company,” the Zuvela noted.
Argosy considers its flagship Rincon Lithium Project a game-changing proposition because of its location within the Lithium Triangle, which hosts the world’s largest lithium resources, and its fast-track development strategy to support the production of lithium products.
The company also has a 100 per cent interest in the Tonopah Lithium Project in Nevada, U.S.
