Argosy readies for first shipment, looks for funding
PERTH (miningweekly.com) – ASX-listed Argosy Minerals is poised to deliver its maiden lithium carbonate product from its industrial scale pilot plant to customer Mitsubishi Corporation in Japan, marking the junior’s first foray into becoming a lithium carbonate exporter.
The maiden shipment consists of five tonnes of high quality lithium carbonate which will be sold under a sales agreement struck with Mitsubishi in March of last year.
MD Jerko Zuvela said that the first shipment was a significant development milestone for the company.
“This is an exciting period for Argosy and Puna, becoming the first high quality 99.5% lithium carbonate product exporter from Salta province, as we continue towards full development of our Rincon lithium project.”
Meanwhile, Zuvela told shareholders that the company was advancing discussions with a number of potential capital providers for the construction of the full-scale 2 000 t/y Rincon project, with the aim of starting construction on the full processing plant during the first half of this year.
The government of Salta province in January this year granted approval of the environmental impact statement for the Rincon project.
Based on the current development plans, construction of the plant will take between 12 to 15 months, with a three to four month commissioning period, at a capital cost of around $14.3-million.
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