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Argosy receives approval for lithium project expansion

Published by , Editorial Assistant
Global Mining Review,

Argosy Minerals Limited has announced that it has received official signed approval from the Government of Salta Province and the Secretary of Mining and Energy to grant the development of the 10 000 tpa lithium carbonate expansion operation at its Rincon Lithium Project in Argentina.

This official approval confirms the Company now has all the necessary approval required to develop the 10 000 tpa expansion operation at the Rincon project site.

Argosy Managing Director, Jerko Zuvela, said, “We are grateful to the Salta Province regulatory authorities, especially the Secretary of Mining and Energy and her team. The Company has conducted extensive works on this EIA process to prove the long-term sustainability of our project. This is a significant milestone and I thank our team for such an achievement and we look forward to completing our upcoming milestones.

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 10 000 tpa stage of our Rincon Project.

This significant milestone further confirms Argosy’s ambitions and near-term growth phase to fully develop the Rincon Lithium Project.”

The Company now has approval to develop and produce up to a capacity of 12 000 tpa of lithium carbonate product at its Rincon Project. The Company will further focus and promptly advance its pre-development engineering works currently being conducted for the 10 000 tpa operation expansion in preparation for FID (financial investment decision).

The Company will also expedite the strategic partner process to secure funding via prepayment (or similar) investment associated with long-term off-take arrangements from a tier-1 counterparty in the EV supply chain.

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Lithium mining news South American mining news