Argosy Minerals has received environmental impact assessment (EIA) approval to expand lithium carbonate production at its Rincon Lithium Project in Salta Province, Argentina.
This permit from the Government of Salta Province and the Secretary of Mining and Energy allows the company to increase its lithium carbonate production capacity to 12,000tpa.
The company now has all the approvals to proceed with the development of the 10,000tpa expansion operation at the Rincon project site.
Argosy is now poised to enhance its production capabilities in response to the growing demand for lithium, a critical component in the electric vehicle (EV) supply chain.
It is currently advancing its pre-development engineering works for the expansion and is preparing for the financial investment decision (FID).
The company's strategy includes fast-tracking the process to secure a strategic partner. This partnership aims to obtain funding through prepayment investment linked with long-term off-take arrangements from a tier-1 counterparty in the EV supply chain.
Holding a 77.5% stake in the Rincon Lithium Project and a 100% interest in the Tonopah Lithium Project in Nevada, US, Argosy is strategically positioned in the lithium market.
The company's commitment to building a sustainable lithium production company is aligned with the anticipated growth in the lithium-ion battery sector.
Argosy Minerals 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 10,000tpa 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.”
