Argosy Minerals MD highlights "big positive" at Rincon Lithium Project | News Direct

Argosy Minerals MD highlights "big positive" at Rincon Lithium Project

Argosy Minerals Limited
News release by Argosy Minerals Limited

facebook icon linkedin icon twitter icon pinterest icon email icon Melbourne, Victoria | October 12, 2023 11:35 AM Eastern Daylight Time

Argosy Minerals Limited (ASX:AGY, OTC:ARYMF) Managing Director Jerko Zuvela speaks to Thomas Warner from Proactive after the Australian lithium project developer released a progress update for its flagship Rincon Lithium Project located within Argentina's Salta province.

He explains that Argosy Minerals is in the process of building a 2,000-tonne per annum facility to produce lithium carbonate, with plans to expand operations by an additional 10,000 tonnes annually.

Since initiating the project in 2016, the company has emphasised its focus on chemical processing over mining, extracting brine from the Salt Lake to produce battery-quality lithium carbonate. Despite facing challenges with lithium prices and regulatory approvals, Zuvela believes Argosy has made significant strides in the past two and a half years.

The company's recent announcement highlights the nearing of completion at the 2,000-tonne facility and their ongoing efforts to secure regulatory approval and financing for the 10,000-tonne expansion. He concludes by saying that lithium prices are currently at a supportive level for the project and that the "fact we're getting close to getting regulatory approval for the 10,000-tonne expansion is a big positive...hopefully we can move down that path of securing the financing arrangements and strategic partnerships we've been working on to make that happen."



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