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Argosy Minerals announces first shipment of lithium carbonate from Rincon project

Australia-based Argosy Minerals Limited confirmed the successful export shipment of five tonnes of >99.5% lithium carbonate product from its industrial-scale pilot plant operations at the Rincon Lithium Project in Salta Province, Argentina.

The preliminary five tonne cargo was loaded onto the ship on Wednesday and set sail overnight from Buenos Aires port, and is being delivered into the Sales and Purchase Agreement executed with Mitsubishi Corporation RtM Japan Ltd. The regulatory approvals process, and all loading and export logistics arrangements ran smoothly and to expected timeframes.

Argosy

Argosy Li2CO3 shipment.


his significant achievement of our first product shipment from operations at Rincon is another key development milestone for the Company, and confirms the marketability of our high quality >99.5% lithium carbonate product. The company and the high-quality Puna operations team are delighted to join the exclusive list of international lithium carbonate product exporters and first from Salta Province, as we continue toward full development of our Rincon Lithium Project.

—Argosy Managing Director, Jerko Zuvela

Argosy has a current 77.5% (and ultimate 90%) interest in the Rincon Lithium Project in Salta Province, Argentina and a 100% interest in the Tonopah Lithium Project in Nevada.

The Rincon Lithium Project currently comprises up to ~2,794 hectares of Mining Titles and mining easement landholdings at the Salar del Rincon in Salta Province, Argentina.

Argosy has executed a sales agreement with Mitsubishi RtM for up to 100 tonnes LCE product. Permitting approvals have been granted for expanding production to up to 2,000 tpa. A non-binding HOA with Mitsubishi RtM provides for the supply of 2,000 tpa for 3 years, with an option to extend for another two years.

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