Argosy making progress in Argentina
Tuesday, November 1st, 2022
Argosy Minerals is targeting continuous lithium carbonate production from its Rincon operation, in Argentina, during the next quarter.
The company on Tuesday told shareholders that 98% of the operation development works for the 2 000 t/y operation have been completed, with 86% of plant commissioning completed.
Current plant commissioning works have successfully produced primary lithium product, which is being processed through multiple stages to produce battery quality carbonate product.
“The company’s 2 000 t/y operational development works are culminating towards realising continuous lithium carbonate production operations,” said MD Jerko Zuvela.
“The company is very excited as we progress to become the second ASX-listed commercial scale lithium carbonate production company, transforming into a cashflow generator and leading to a significant near-term growth phase for the company. The lithium market maintains its strong momentum with lithium carbonate prices forecast to continue around record highs into 2023 and beyond, resulting in very lucrative upcoming product sales revenues,” said Zuvela.