Argosy Minerals Limited
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Exciting News: Argosy Minerals Rincon Lithium Project Speeds Towards Success
Progress Update: Operational Improvements and Expansion Plans
Why is this important?
Argosy Minerals Limited (ASX: AGY) provides an update on the latest developments at their Rincon Lithium Project. The company is working towards increasing production operations and expanding their facility to meet the growing demand for battery quality lithium carbonate.
Who is involved?
Argosy Minerals Limited (ASX: AGY) is a company dedicated to the production of lithium carbonate. They are focused on improving their operations and expanding their facility to increase production.
What has been achieved so far?
Operational works at the 2,000tpa (tonnes per annum) lithium carbonate facility are progressing. The primary focus is on resolving equipment performance issues in the primary solids filtration circuit to improve filtration rates. The company has conducted test-works with a specialist filtration group from Italy and has identified key areas for improvement.
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Upgrades to filter cloths and modifications to the pump design and piping are currently being performed. The company expects to increase production operations in the first quarter of 2024.
Currently, production output is limited due to equipment modifications and performance testing. However, the company has produced approximately 48 tons of battery grade lithium carbonate to date. They are also near completion of pond harvesting works, which will increase the production of concentrated lithium brine.
In addition to the 2,000tpa operations, Argosy Minerals Limited is also progressing pre-development works for a 10,000tpa operation expansion. This includes process design reviews, evaporation pond design, and engineering, as well as industrial water drilling operations.
Where is this happening?
The progress update pertains to the Rincon Lithium Project, which is located in an undisclosed region.
When can we expect further updates?
The company aims to increase production operations in the first quarter of 2024. Further updates will be provided as progress continues.
How does this impact the industry and Argosy Minerals Limited?
Argosy Minerals Limited is actively working towards becoming the second ASX-listed producer of battery quality lithium carbonate. The progress made in operational improvements and the pre-development works for the expansion will position the company to meet the increasing demand for lithium carbonate used in batteries.
By resolving equipment performance issues and increasing production capacity, Argosy Minerals Limited will play a significant role in the lithium market, contributing to the production of battery-grade materials vital for the growing electric vehicle industry and renewable energy storage solutions.
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