Argosy Minerals Produces Battery-grade Lithium at Rincon

- August 7th, 2018

Argosy Minerals has successfully produced battery-grade lithium carbonate equivalent at its Rincon lithium project in Argentina.

Argosy Minerals (ASX:AGY) has successfully produced battery-grade lithium carbonate equivalent (LCE) from the stage one plant at its Argentina-based Rincon lithium project. 

According to the company, it has produced 30 kilograms of LCE product with a Li2CO3 content value of 99.6 percent. The material will soon be prepared for customer samples that Argosy will send to international cathode and battery makers for quality confirmation and testing.

Upon customer verification, the product sent off will then form the foundation for preliminary offtake agreements for stage one production from Rincon.

Lithium in 2018

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The company’s main goal for stage one is to produce consistent battery-grade LCE product for ongoing operations while also ensuring the chemical process is efficient and cost effective.

“We are delighted at this significant milestone — to achieve such a result from our stage 1 500tpa capacity plant is a remarkable success,” Argosy Managing Director Jerko Zuvela said in a statement.

He added, “[w]e believe our chemical process pathway is efficient and scalable, and the success being announced today bodes well for the continued development of stages 2 and 3 at the Rincon lithium project.” Stage two will see Rincon enter an initial commercial stage, while stage three will bring large-scale commercial production.

Argosy owns a 77.5-percent interest in Rincon, and considers the project its flagship asset, referring to it as a potential “game-changing proposition” due to its location in the renowned lithium triangle.

The area, which overlaps the borders of Bolivia, Chile and Argentina, is considered the world’s dominant source of lithium. Meanwhile, Rincon spans over 2,500 hectares through various mining titles in the area.

The company’s stake in Rincon, which it currently shares with lithium-processing company Pablo Alurralde, will rise to 90 percent upon funding development of stage three.

Argosy’s news, released on Monday (August 6), sent the company’s share price as high as AU$0.34 in Tuesday (August 7) trading. It closed down at AU$0.28 that day.

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Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.

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