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Argosy Minerals (ASX:AGY) - Non Executive Chairman, Alex Molyneux
Non Executive Chairman, Alex Molyneux
Source: Mining News
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  • Argosy Minerals (AGY) awaits the approval of an environmental impact assessment to expand the Rincon Lithium Project in Argentina’s Salta Province
  • The company is seeking to upgrade the project’s 2000-tonne-per-annum (tpa) operation, which is currently under construction, by a further 10,000tpa
  • AGY has submitted the report to the Salta Province Secretary of Mining and Energy for assessment, with approval anticipated by the end of this year
  • Managing Director Jerko Zuvela says he is excited to see Argosy transform into a battery-quality lithium carbonate producer
  • Shares closed at 12 cents apiece on July 22

Argosy Minerals (AGY) is awaiting approval of an environmental impact assessment of the Rincon Lithium Project, located in Argentina’s Salta Province.

The company has submitted the report to the Salta Province Secretary of Mining and Energy and is seeking to expand lithium carbonate production at the plant by 10,000 tonnes per annum (tpa).

The expansion would add to the 2000tpa operation that is already under construction at Rincon, with approval of the upgrade expected later this year.

Argosy Minerals Managing Director Jerko Zuvela said progress towards the company’s commercial-scale development enhanced AGY’s strategic value to end-user customers across the battery and electric vehicle industry supply chain.

“With lithium market sentiment and lithium carbonate prices continuing their strong upward momentum, and continued progress toward the fully funded 2000tpa scale production operation, we are excited as Argosy transforms into a battery-quality lithium carbonate producer and cashflow generator,” he said.

Further, the company advised its Puna Mining operations management team had met with recently appointed Salta Province Secretary of Mining and Energy Flavia Royon to provide a virtual tour of the pilot plant.

According to Argosy, the prospective expansion at Rincon is generating interest in potential offtake arrangements and associated strategic propositions.

Shares in Argosy Minerals closed at 12 cents apiece on July 22, 2021.

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