Argosy Minerals Limited provided operational update of Rincon Lithium Project, located in Salta Province, Argentina, with 56% of the total works now completed for the development of the modular 2,000tpa lithium carbonate production operation. The company remains on schedule to achieve first production of >99.5% battery quality lithium carbonate product from mid-2022. The 2,000tpa production operation major works comprise three main phases of works, comprising design, construction and commissioning.

The design phase works (including engineering layout) are complete (100%); The construction phase works are 59% complete; Plant commissioning works (comprising raw materials acquisition and workforce/team development) are 13% complete. The construction phase comprises the process plant, equipment and associated installations, earthworks and site construction (including additional camp development and associated site infrastructure), and expansion of the brine system (pumping station, plant settling ponds) are progressing on budget and schedule, with; 99% of earthworks/land movements completed; 86% of site works completed (comprising site camp accommodation, laboratory, office, and other works); 76% of the brine system completed (comprising pumping station and plant settling ponds works); 52% of the process plant completed (comprising plant equipment acquisition and plant warehouse works); and 53% of utilities and associated services (comprising vapour system, communication system and ancillary services works). The company is progressing toward successfully developing the modular 2,000tpa operation and become a commercial battery quality lithium carbonate producer.