Argosy Minerals Limited announced further progress at the Rincon Lithium Project, located in Salta Province, Argentina, with 98% of the total works completed for the development of the 2,000tpa lithium carbonate production operation, including current commissioning works at 90% completion. The company is currently conducting commissioning and production test-works to produce battery quality lithium carbonate product. Current plant commissioning works have successfully produced primary lithium carbonate product, which is undergoing processing via multiple stages to ultimately produce battery quality lithium carbonate product.

The 2,000tpa production operation major works comprise three main phases - being design, construction and commissioning. The design phase works are completed (100%); The construction phase works are 99% complete; and Plant commissioning works are 90% complete. The construction phase comprises the process plant, equipment and associated installations, earthworks and site facilities (including additional camp development and associated site infrastructure), and expansion of the brine system (pumping station, plant settling ponds), with all construction works at effective practical completion; earthworks/land movements completed (100%); site works completed (100%) (comprising site camp/accommodation, laboratory, office, and other works); brine system works completed (100%) (comprising pumping station and plant settling ponds works); 99% of the process plant completed (comprising plant equipment acquisition, installation and plant warehouse works); and 96% of utilities and associated services (comprising vapour system, communication system and ancillary services works).

The overall commissioning phase works have advanced toward full integration of plant and systems commissioning, producing primary lithium product, and preparing for production of battery quality lithium carbonate, with; 93% raw materials procurement/acquisition achieved; 100% completion of operations personnel recruitment and development; and 85% plant and equipment commissioning tests performed. The company's key operational focus is completing current commissioning and production test-works, and progress toward commencing continuous lithium carbonate production operations during the next quarter. The company's target is to progress ramp-up works and achieve steady-state production operations by end of first half-calendar year 2023.

The company's aim is to ensure the final phase commissioning works are successfully completed to establish efficient steady-state production operations for the longer term. The company is not compromising on ensuring quality outcomes of the final stages of commissioning works to achieve 100% effective production operations and become a successful commercial battery quality lithium carbonate producer during 2023.