Argosy Minerals Gets Approval To Expand Lithium Carbonate Operations

Argosy Minerals Ltd (ASX: AGY) has secured approval for the development of its 10,000tpa lithium carbonate expansion operation at Rincon Lithium Project in Argentina.

Importantly, the approval of the Environmental Impact Assessment (EIA) by the Government of Salta Province validates the project’s long-term sustainability.

Argosy Managing Director Jerko Zuvela said: “The Company can confidently advance its strategic partner process, with the EIA approval providing significant de-risking for a potential strategic group to become involved in realising the development of the next 10,000tpa stage of our Rincon Project.”

Pre-development works ongoing

The Rincon Lithium Project is in the world-class “Lithium Triangle” in Salta Province, Argentina.

Argosy already has a 2,000tpa operation at Rincon which is producing a battery-grade lithium carbonate product.

The company is currently focused on advancing pre-development engineering works for the 10,000tpa operation expansion.

This will be followed by an FID (final investment decision).

Strategic partner process

Argosy is expediting its search for a strategic partner to secure funding through prepayment or similar investment structures.

The ideal partner will be a tier-1 player in the electric vehicle (EV) supply chain.

Argosy had cash of A$13.8 million at the end of December 2023.

 

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